Business Cash Advance by RapidAdvance

Business Cash Advance by RapidAdvance

Rapid Advance 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.

Nav's Verdict

Cost
20% Complete
LowHigh
Effort to Apply
80% Complete
EasyDifficult
Funding Speed
60% Complete
MonthsMinutes
Repayment Terms
20% Complete
MonthsYears

5/10

Bottom Line

A very expensive option that should only be used if you have cash flow emergencies and don't have other alternatives.

Pros

No monthly minimum payment. No business lien placed. No application fee.

Cons

Extremely Expensive. Not all digital. Prepayment penalty.

Qualification requirements

Sales

At least $3,500 per month in credit card sales.

Cost
70% - 250% APR
Repayment Terms
3 - 12 months
Funding Amount
up to $500,000
Funding Speed
7 days
Application
Not digital

Add Review

Reviews Disclosure: The responses below are not provided or commissioned by the credit card, financing and service companies that appear on this site. Responses have not been reviewed, approved or otherwise endorsed by the credit card, financing and service companies and it is not their responsibility to ensure all posts and/or questions are answered.

There are no reviews yet. Share your thoughts with other customers.