Business Cash Advance by Rapid Finance
Rapid Finance is one of the largest merchant cash advance providers. Like all MCA providers, instead of charging an interest rate, you sell a portion of your future card sales in exchange of an upfront lump sum. Your total payment will be capped, typically 125% – 150% of the borrowed amount, which is expected to be paid back within a year. Unlike other MCA providers, RapidAdvance doesn’t charge a monthly minimum. The payment would be solely based on your monthly card sales. They also don’t require your business asset as a collateral, which other MCA providers typically request.
No monthly minimum payment. No business lien placed. No application fee.
Extremely Expensive. Not all digital. Prepayment penalty.
At least $3,500 per month in credit card sales.
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