Gokapital offers working capital to small and medium size business
In the form of a business cash advance.
BUSINESS CASH ADVANCE
If you process at least $5,000 in credit card sales each month, for three months, you are well on your way to approval.
With a Business Cash Advance, you get a lump sum of cash, for any business need, automatically deposited into your bank account. An automated payback system is set up based on your daily credit card transactions.
Most business owners find that the need for quick capital funding will become a reality at some point in the business cycle.
Unexpected struggles with cash flow can occur at any time. However, obtaining a merchant cash advance provides fast, short-term funding and may be used toward any working capital or debt. Best of all, minimal collateral is required, there are no late fees, and you don’t need to have a perfect credit score
HOW DOES IT WORK?
Essentially, GoKapital purchases a small portion of your future credit card sales for a discount, upfront. Another term that may be used for this type of funding is “credit card receivables factoring.” Since we’re purchasing your future sales, it is important to note that this is NOT a loan.
So if you’re concerned about it affecting your credit score, not to worry!
HOW DO I RECEIVE MY FUNDS?
If you qualify and provide us the necessary documentation, you could be receiving funds in a matter of days!
The approval process for an advance quick and simple. All we typically require is 3-6 months of your merchant processing statements, 3-6 months of your business bank statements, and a GoKapital application.
HOW MUCH DOES IT COST?
Unlike most funding sources, we won’t charge you an application fee. Your advance is remitted based on a fixed percentage of credit card sales. Remittance is easy and adjusts itself to your business’ cash flow needs.
The costs of running a business involve everything from employee payroll and equipment rental to legal fees – and more.
When you need short term funding, a business cash advance from GoKapital can provide you with the necessary working capital to keep moving forward. Our mission is to help your business grow.
TOP 3 MOST FREQUENTLY ASKED CASH ADVANCE QUESTIONS
- Is a merchant cash advance the same as a business loan?
A business cash advance is based on your credit card processing (merchant account) and repaid via a daily percentage of credit card sales, while a revenue-based business loan takes into account cash and check deposits (in addition to credit cards) and is paid back via a fixed daily or weekly payment. Despite the minor differences, in both cases, business owners obtain quick funding with the total payment due at a future date.
- Will I qualify for a business cash advance if I don’t process credit cards?
Since a merchant cash advance is repaid via a daily percentage your credit card payment processing, you will not qualify. However, you would easily qualify for a revenue-based business loan if your business bank account reflects a minimum monthly average of $10,000 in deposits. In fact, you don’t even need to accept credit card payments at your business to qualify for a revenue-based loan.
- Does a business cash advance improve my business credit?
It is possible for either a merchant cash advance or revenue-based business loan to build your business credit. You would have to contact business credit reporting agencies and provide information on your business financing.
Business Cash Advance Benefits
- PURCHASE New Equipment and Software
- RENOVATE and Expand your Business
- INVEST in Marketing and Advertising
- CAPITALIZE on New Business Opportunities
- ELIMINATE Existing Financial Obligations
A Merchant Cash Advance is an attractive alternative to a traditional business loan. It provides immediate short-term funding and may be used for any working capital expense or debt.
No Collateral Required | No Personal Guarantee Required | No Fixed Repayment Term | Minimal Paperwork
Range from $5,000 to $250,000
Funds can be used as you see fit for your business needs
From application to receipt of funds, the process is simple
Requires a fraction of the paperwork as traditional sources of funding
Funds are available in as little as 5 business days
No application fees or closing costs
No personal collateral
Industries We Fund
- Administrative and Office Management
- Arts and Entertainment
- Educational Services
- Finance and Insurance
- Health Care
- Information Technology
- Hospitality and Food Services
- Manufacturing and Engineering
- Professional and Technical Services
- Retail and Consumer Goods
- Transportation and Warehousing and more