Merchant Capital Source Review

By: Derek Porter

Ideal For

  • Small businesses in need of immediate financing options with flexible terms
  • Borrowers that desire a simple and quick decision-making process

Pros

  • Same-day decision making
  • Funding can take as little as 3 days
  • Flexible financing options
  • Easy to complete online form

Cons

  • Minimum Requirement of $10,000 in Gross Monthly Sales

The Bottom Line

Merchant Capital Source offers small business loans and merchant cash advances through a quick and easy decision-making process. Loans can be uniquely structured to meet the immediate cash requirements of your business.

Visit Merchant Capital Source

Why Go With Merchant Capital Source?

Small businesses that depend on banks and conventional lending institutions for loans can end up experiencing lengthy waiting times, meticulous review of financial records and the likelihood of loan denial or inadequate credit line approval.

Merchant Capital Source offers small businesses a reprieve from traditional lending processes. Loans from the company do not require bank approval and can result in funds being provided to your small business within 3 days. Merchant Capital Source provides customers with an expedient alternative for sourcing the financing that they need for their small business.

Merchant Capital Source is a leader in the market for alternative finance solutions, understanding that entrepreneurs frequently have credit challenges that banks just can’t overcome.

When submitting an application to Merchant Capital Source, customers will receive a preliminary approval of your cash needs within the same day that you submit. The application process takes about 15 minutes of your time, and the supporting information that will be requested to reach a final approval generally consists of a recent bank statement and a copy of your business license.

Merchant Capital Source funds small businesses’ cash needs within 3 to 4 days after you submit the information compared to 60 days with typical bank financing.

Merchant Capital Source will collect a percentage of future credit card sales volume, or a fixed daily payment. With a cash advance, if your business has a strong month, Merchant Capital Source benefits by collecting a little more, but if your business has a weak month, they collect less.

Customers can also choose the path of a small business loan that enables you to know precisely your future daily payments and the exact term of your loan. This provides you all of the information you need to forecast your daily business operations.

What They Offer

  • Term of Financing 6-14 months
  • Minimum FICO score 575
  • Range of financing available $5,000 - $500,000
  • Merchant Cash Advance
  • Small Business Loan

More Reasons to Choose Merchant Capital Source

A Small Business Loan or a Merchant Cash Advance from Merchant Capital Source gives customers the ability to successfully manage working capital – which can be key to the overall success of your business. Many businesses struggle to maintain an adequate amount of working capital. Even highly profitable businesses experience periods of limited cash flow and need to access working capital to operate successfully.

If you have operated your business for more than 6 months and generate at least $10k/month in gross sales then your business is eligible for Merchant Capital Source financing.

Utilizing immediate financing options can help your small business in a variety of areas:

Inventory: Take advantage of volume discounts, special buying opportunities or seasonal purchases.

Advertising: Increase the volume of your business by expanding your customer base and increasing your customer’s awareness of your products/services.

Expansion/Remodeling: Grow your business into new markets and new locations, or attract new business to your existing locations with a new image.

Equipment Purchases: Modernize and improve the efficiency of your business with new technology and equipment necessary to compete in your markets.

Emergencies: Respond to the unpredictable demands of your business to maintain your competitive advantage and expand your business.

Taxes: Pay your taxes on time to avoid penalties, interest and liens.

Back Bills: Get caught up with important vendors in less than 5 business days.

Minimum Qualifications

To apply for a loan with Merchant Capital Source, you will need to provide the following information:

  • Business Type
  • Years in Business
  • Monthly Credit Card Volume
  • Monthly Gross Sales

What’s Unique About Merchant Capital Source?

Merchant Capital Source provides two different finance options to tailor to each borrower’s unique situation:

Merchant Cash Advance

If you have a history of credit card acceptance, then a Merchant Cash Advance may be just what you need. Your history of credit card volume is used to determine the amount of funds that can be advanced.

A Merchant Cash Advance requires a minimal operating history and the lowest possible credit requirements. Your payments fluctuate, and are dependent upon the amount of your future credit card sales. The amount that you pay is either collected directly through the daily deposits of your merchant processing account or collected by daily ACH debit to your bank account.

You can access funding from $5,000 to $300,000.

Merchant Capital Source purchases a set dollar amount of your business’s future credit/debit sales at a discounted price, they pay you this price in a lump sum cash funding. The company collects an agreed upon percentage of each future credit/debit transaction that you process.

Customers future payments vary based upon your future sales volume— so payments are cash flow friendly.

Small Business Loans

This solution is ideal for the stronger credit profile, and business with strong consistent cash flow that desires a fixed payment structure. Additionally, the funding amount is not limited by your credit card processing volume. If you have at least 9 months operating history in your business, and prefer a fixed payment structure, then a Small Business Loan might be for you. Funding time is still about 3 days after submission of your complete application package!

With this solution, you can access funding $5,000 to $500,000. The steps to get funding are easy:

The company reviews your application and your banking and credit card processing history. Then Merchant Capital Source will consult with you on the loan amount, payment, and funding structure. Your future payments are fixed so you can plan your future cash flow.

Repayment Terms

Interest rates and fees are not listed as information for either loan. The repayment structure will vary depending on the time frame of the loan and which loan you choose. Merchant Capital Source tailors their approach based on customer needs.

Merchant Capital Source Security Measures

Merchant Capital Source limits access to customer files to those officers who have a business need to know and access such information. As well as maintains policies and procedures to secure physical access to its confidential customer information, including:

  • Locking down its physical files;
  • Maintaining a professionally monitored alarm system at its facilities where confidential customer information is stored;
  • Shredding all discarded customer information;
  • Requires its independent contractors and third party vendors who provide services to Merchant Capital Source to adhere to strict privacy standards;
  • Uses technological means (including backup files, offsite secured storage of electronic files, firewalls, and encryption schemes) to protect against unauthorized access or alterations of confidential customer data.

Merchant Capital Source collects and maintains customer information as part of the application process. The company also collects information about merchant business and its owners/operators from a variety of sources.

Merchant Capital Source will promptly notify a merchant business in writing or by telephone if the company suspects that there has been a breach of confidentiality regarding confidential customer information.

Help & Support Availability

Merchant Capital Source can be reached via email, phone or direct mail. Unfortunately the site does not offer a FAQ section providing answers to the most common questions. However, the site does have a blog that posts helpful topics to help small businesses improve operations.

Merchant Capital Source Review In Short

If you are a small business in search of quick and easy financing options, then Merchant Capital Source might be exactly what you are looking for. Merchant Capital Source offers customers pain-free financing options with uniquely structured terms to meet the immediate cash requirements of any small business.

About Merchant Capital Source

Merchant Capital Source was founded in 2005 with the recognition that the banking community was not necessarily meeting the needs of the small and mid-sized business community. Banks and other business lenders typically have awkward lending procedures that can take weeks to review and they typically require a high degree of paperwork.

Merchant Capital Source was formed by business people that appreciate the need for immediate cash is sometimes a reality in doing business. The company’s primary concern is enabling customers to access the value of sales and cash flow in the most optimized manner possible. Offering Small Business Loans or a Merchant Cash Advances allows Merchant Capital Source to give customers the financing that best suits their needs.

Address

Merchant Capital Source
2120 Main Street, Suite 220
Huntington Beach, CA 92648

Contact Details

Phone: 1.866.969.7878
Email: sales@merchantcapitalsource.com

Visit Merchant Capital Source
 

Top 5 Business Loan Companies