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POS Loans, Merchant Cash Advance, Loans Against Card Swipe, Apply Now - FlexiLoans
POS Loans, Merchant Cash Advance, Loans Against Card Swipe, Apply Now - FlexiLoans
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Your typical monthly credit/debit card sales Typical monthly credit/debit card sales determine the cash advance amount. Lenders offer credit card machine loans
between 100% and 400% of your card sales volume. The lender will request your credit card sales statements for the previous three to six months to evaluate your
eligibility.
You seek a lender for a merchant cash advance like a borrower. The lender considers your business’s typical monthly revenue generated via credit and debit cards and
then lends you the appropriate amount. You may then repay the loan whenever you earn money from consumer credit, and debit card swipes.
Here are some features that loan against swipe machine provide to small businesses:
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No Collateral
Unlike traditional business cash advance loans, merchant cash advances do not need the submission of security such as real estate or other assets.
Complete application
It is fast and takes only 5 minutes
Upload documents
Easily upload your documents online
Credit analysis
We will check your documents & evaluate your application
Loan disbursement
Account get funds only after loan approval.
Online Application: Log on to the FlexiLoans website and complete the application form by correctly filling in the relevant information. FlexiLoans will use these details
to assess your eligibility for MCA.
Upload the Required Documents Online: Ensure to upload all the required documents online, namely, KYC documents, current account bank statements, and business
KYC documents.
Credit Analysis: FlexiLoans will assess your business results and operations to calculate the loan amount you'll be eligible to borrow and the interest rates that will
apply. Our loan officers will assist you in understanding the bid and making the right decision.
Loan Disbursement: FlexiLoans shares the loan agreement after verifying the documentation and approving the loan. The account gets funds within 48 hours of
approval.
For quicker loan approval, we have kept the MCA guide short. The followings are the requirement
An individual must be 21 years of age when applying for card machine loans and not more than 60.
MCA is available to individual corporations, sole proprietors, LLPs, OPC, and private companies involved in trading, production, or services.
The applicant must have worked in the industry for three years and have at least five years of experience.
Offers MCA to those businesses running for at least a year and have monthly total sales of at least INR 1,00,000.
If the company has been in service for even more than three years, you can apply for an MCA.
We would also ensure that there are no errors in previous accounts and, as such, the company is tax compliant.
Finally, verify that the paperwork is in order well in advance of applying for a merchant card loan with us and hold it in digital format to be submitted during the
application process.
Benefits
While merchant advance loans are not appropriate for every company owner, they can be beneficial to some.
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After POS loan remittance, payment deducts from your company's accepted credit transactions automatically. This eliminates the need for you to take time out of work
to make the payments, and there is little risk of incurring late penalties. If you frequently fall behind on payments, it might be reassuring to know that you handle your
cash advance payment. Apply Now
Term
c. Funds Loan
are received expeditiously. Loan against POS Line of credit Vendor Financing
When applying for merchant services loans with a bank, the procedure might take weeks or months to complete. If your firm needs immediate working capital, you
generally cannot afford to go through a lengthy financing procedure just to discover that you are ineligible for a business loan. Funds are frequently available in less
than a week with a loan against a POS machine, and many lenders like FlexiLoans may close disburse loans in less than 48 hours
Residential Address proof (Any one) Rent agreement, driver's license, Voter's ID, Ration card, Aadhaar Card, Passport
Banking Last six months' current account bank statement receiving card payment settlements
Business KYC (Any one) GST registration certificate shops and establishment certificate
Financial documents (For loans greater than 10 Lakhs) Last two years’ audited financials or the last two years’ ITR GST Returns of six months
Apply for an MSME loan for business online with FlexiLoans. Check for eligibility criteria for business loans & EMI calculator for business loans.
What benefit does the merchant cash advance provide you? What benefit does the merchant cash
advance provide you?
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Got Questions?
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