This is a merchant/business cash advance, so no, you cannot.
No, we do not charge any application fee for a Merchant Cash Advance with LendC.
You can use them for whatever you need. It’s your money and we don’t want to limit your growth or success in any way. You can use the money to buy equipment, repair machineries, buy more inventory, invest in extra marketing, remodeling the premises, it’s entirely up to you how to best utilize the funds.
At LendC, we realize that every business is unique. This makes it hard for us to give you an exact estimate, to tell you exactly what your business could qualify for right now. However, we look into the history of your credit card sales which can be of great help in determining how much you qualify for. All you have to do is call our customer support teams and they will help you figure it out!
The best part about repayments through LendC, you don’t have to set one specific payment amount! Unlike traditional business loans, there is no set monthly payment that is due, regardless of how your business is doing. We collect a manageable percentage of your credit card sales on a daily basis depending on how your sales went. If they are good, a good amount comes our way, if they are less, we get less too!
There are various differences, some of them being that a Merchant Cash Advance is easier and faster to get when compared to a traditional business loan.
We assure you that your information is secure. Whenever there is any sensitive information, we use 128-bit encryption to transmit. This ensures that all of your personal information is secure and safe.
We provide funding to over 400 industries across all states.
That does not matter as much because our financial partners will focus on your business when deciding whether to fund you or not. Unlike a traditional bank loan, your personal credit history does not play a major role in the decision.
While we are fairly flexible, a few primary qualifications are:
- At least three months of credit card transactions (sales)
- Your business must not be home-based
That’s great for everyone! We don’t charge any penalties for prepayment.
Good question! We tell everything there is to know on our Merchant Cash Advance page! Click here to read the details.
The most important thing, unlike these traditional banks, LendC will not complicate the process of receiving funds. It is next to impossible to qualify for a loan at banks whereas LendC offers some major advantages, such as:
- More funding options
- Faster, simpler and more secure application process
- A choice of repayment methods catered to your business
- LendC gets your funds within days rather than weeks or months