Funding In 48 FAQ's

A: Funding in 48 provides lines of credit as a first option for companies that qualify since they are easier to attain and offer the best flexibility for the merchant. However Funding in 48's provides Merchant Cash Advances (MCA's) for business in need of working capital fast as well as restructuring for existing cash advances. 

A: A merchant cash advance is a type of funding option for businesses in which the financer provides a lump sum of cash in exchange for a percentage of the future credit card sales of the business.

A: The advantages of a merchant cash advance include fast approval times, no collateral requirement, flexible repayment terms, and no restrictions on how you can use the funds.

A: As with any financial liability, the disadvantages of a merchant cash advance might include higher fees and interest rates, and a potential for debt accrual that exceeds cash flow if not properly used.

A: Yes, you can typically pay off a merchant cash advance early in many cases with the financial benefit of early payoff incentives. You should check to see what the terms are before entering into an agreement to see what those incentives include as well as  prepayment penalties or fees. 

A: Generally, businesses that accept credit card payments and have a steady flow of sales are eligible for a merchant cash advance. 

A: Funding in 48's approval time can be as little as a few hours depending on how fast documentation is received.  It may vary though and can take anywhere from a day to up to a week to get approved.

A: Repayment of a merchant cash advance is structured as a percentage of your business's daily revenue. The provider will deduct the agreed-upon percentage from your sales daily/weekly/monthly until the advance is repaid in full. 

A: The amount you can borrow with a merchant cash advance depends on the history, financials, and your line of business(s). Typically, the advance amount ranges from a few thousand dollars to hundreds of thousands of dollars. 

A: To apply for a merchant cash advance, you will need to fill out an application with Funding in 48 and provide documentation of your business's sales volume and financial statements.