These funding vehicles are for businesses who accept credit cards. If you accept credit cards and have sales over $5,000 monthly, you might be a great candidate for merchant advances and card credit.

With Merchant Advances lenders review your merchant processing history to determine approval. If you do consistent credit card sales of $5,000 or more each month, and if you have limited chargebacks, you can qualify for this program even if you have challenged personal credit now.

This program offers approvals as high as $250,000. Your approval amount will vary based on the amount of credit card sales you typically process in a month. The lender will see how much you process each month in credit cards, will then determine the time frame they want paid back, and will then give you an offer of what percentage they will collect on your future credit card sales until they are paid back.

This is not based on a standard interest rate like normal bank loans, instead you will pay a set fee based on the risk of the transaction. This account will be reported to the business reporting agencies and will help you build your business credit profile.

The lender will look at your personal credit just to insure you are not currently in trouble, such as having any large outstanding collections owed or judgments or liens. The lender just wants to insure no creditors are going to purse you causing you to default on the merchant loan, they don’t look at the personal credit to make their main lending decision.

This is a great funding program for you if you have good credit card procession volume monthly , even if you have personal credit issues.