Florida Merchant Cash Advance Lenders
When you need to quickly raise capital for your Florida small business a merchant cash advance can be the best option for fast funding your business. Florida cash advance loans can be expensive but make sense for some Florida businesses.
How Do Florida Merchant Cash Advances Work?
Florida cash advances are not loans, rather a Florida business cash advance is a payment against your Florida business future income. The merchant cash advance provides a lump sum of funds that is to be repaired using a percentage of your daily average credit card receipts.
The cost percentage you pay back to a Florida merchant cash lender is referred to as a retrieval rate or holdback cost. This ranges depending on many factors from 3-25% of your business card sales and the repayment period of the Florida cash advance. The terms of Florida cash advance ranges from 90 – 18 months. Florida business repayment plans start immediately after funds are recorded.
Florida merchant advances are determined by your average credit card sales. Florida merchant advice provider will review your income statements over the previous 3-6 months to calculate of large of a cash advice you qualify for. Standard Florida cash advance amounts from 50% up to 300% of your business credit card receipts.