Call toll free: 1-866-595-5546
Funding Process
The process for getting a Merchant Cash Advance from Creative Business Lending is a simple one. We place no restrictions on how the merchant chooses to use the cash advance.
Here is a look at the step-by-step process:
Qualify for a cash advance.
You should qualify if your restaurant, retail establishment or service business meets the following criteria:
- Processes at least $2,000 a month in credit card sales
- Has been in business for at least one year
- Has a minimum of one year remaining on your lease
- Has no open judgments or bankruptcies
- Has processed Visa or MasterCard for the past 6 months.
- Willing to switch credit card processors. (We will match or beat your current rate guaranteed, and may payoff all cancellation fees if applicable).
Necessary documentation.
Should you choose to fill out an application, we will need from you the following:
- Three - Six months of credit card and bank statements
- A copy of your lease
- A tax return or financial statement for advances over $25,000
- Landlord verification
- A voided business account check
- These documents will then be submitted to our underwriting department. You will be contacted within one business day to discuss the specifics of the agreement and the pay back schedule. A contract will then be delivered to you by the close of the following business day.
Receive a cash advance
As early as the following business day, you will receive the agreed upon cash advance directly into your bank account. In return, Creative Business Lending will retrieve a fixed percentage of your future credit card sales according to the terms agreed upon. The percentage we retrieve is fixed for the life of the funding.
The process is completely automated and seamless. We get paid when the credit card processor pays you. You never write a check or pay a late fee.
If this all makes sense to you, then please click here to fill out an application.