Arca Funding Business Financing Solutions
Our main goal at Arca Funding is to provide fast working capital to small and medium-sized businesses. We buy your future credit card sales as a cash advance, in order to give you the money you need now. The amount you will receive is based on how much you process from customers’ credit cards.We also have lock-box and ACH options for businesses that do not process credit cards. Our premium program is our bank loan product. If you qualify, we go as low as 9% over a five year term.
Unlike regular loans, our cash advance system does NOT require any collateral or incur interests. The advance is automatically paid for by taking a small percentage of your credit card transactions or by a fixed daily ACH debited to your bank account until it is fully compensated. Application is quick, free, and easy! Simply fill out the form on the left to get started. Our staff is always on standby to contact you about your funding
Do You Qualify For a Cash Advance?
Plenty of small and medium-sized businesses are not familiar with Merchant Cash Advance as an alternative business financing solution. Those who have poor credit card scores, or merchants in the retail and restaurant industries, often find it difficult to get a bank loan. Even if they did, it usually takes weeks or months for the proper paperwork. However, many of them can actually qualify for a sizable cash advance – some for even up to $500,000 – in a matter of days!
Here are the top ten easy ways to tell if your business can qualify for a cash advance:
- You own a business. Most lenders require at least six (6) months of operation. Start-ups do not qualify.
- You are current with your rent/mortgage. This is perhaps one of the most important references a lender would check. Some would be willing to pay for business owners who are one (1) month behind on their rent.
- Your business processes Visa/Master Card transactions. Lenders advance the needed amount against future credit card receivables, and automatically collect payment from future credit card sales. That’s why accepting this mode of payment is very important. A lender might require a business to have at least $5,000 transactions a month.
- You are not under bankruptcy. Most lenders want to know that you have no open bankruptcies – and if you did, that it’s been discharged for at least a year.
- You have above 500 for personal credit.Normally this does not play a huge role; however, your business might not qualify for the traditional cash advance if your personal credit is below 500. You may qualify for a Starter Program instead.
- You accept Split-Funding/ACH/Lockbox as methods of payback. These are the only ways a lender can collect the percentage of Visa/MasterCard sales. You may qualify for one or two of them.
- You are current with your tax lien payments. Lenders want to see that you are on some sort of payment plan for tax liens.
- You are up-to-date on your franchise and/or royalty fees.
- You can provide required paperwork. Lenders will ask for three (3) months’ worth of your most recent bank statements, plus merchant processing statements in the last four (4) months. This may vary for every lender and type of business.
- You are friendly! A merchant’s character actually plays an important role in obtaining a cash advance. During the interview, smile and be cooperative. Lenders are unlikely to fund business owners who are rude or aloof.