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Our cash advance program is a fast, convenient merchant cash advance program allowing your merchants to quickly raise working capital to meet their business needs. The merchant cash advance program is not a loan – it’s a purchase of future credit card processing receivables at a discount.
Our Merchant cash advance program has no fixed term, no fixed payment amount, and no personal guarantee unlike a traditional loan. Repayments are a fixed percentage of sales, not a fixed amount. Repayment is based on a withholding of settlement funds, so the percentage of funds withheld stays the same if the merchant’s sales decrease or increase. Our cash advance program makes it easy for merchants to keep up with their changing needs with a seamless renewal process.
Approvals are much faster than a typical loan, typically just 1-2 business days, with funding available within 2-3 business days of approval.
Advances range from $500 – $500,000, and funding is provided as a lump sum, so merchants can spend all at once, or over time depending on their needs.
Repayments are deducted automatically from a percentage of credit card sales (the maximum is 20%). Repayment is based on a withholding of settlement funds, so the percentage of funds withheld stays the same if the merchant’s sales decrease or increase.
Merchants can renew an advance once 60% of the current advance has been repaid, making it easy to keep up with changing needs.
Our Merchant cash advance program is not a loan and there is no personal guarantee, so Clover Capital does not display on the merchant’s credit report.
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