What is a merchant cash advance?
It’s a purchase of a portion of your business’s future receivables. VitalCap pays you a lump sum up front, at a discount, and those receivables are delivered through small daily or weekly remittances based on your revenue. It is not a loan.
How fast can I get funded?
Offers can come in as fast as 30 minutes once we have your application and bank statements, and most approved deals fund the same day the contract is signed.
How much can I get?
Your offer is based on your average monthly revenue, the consistency of your deposits, your existing obligations and your time in business.
What do I need to apply?
A signed application and your 3 most recent business bank statements. Before funding, we’ll ask for a driver’s license, a voided check, and proof of ownership.
Do I need good credit?
We work with credit scores from 520 and up. Your business’s deposits and cash flow matter more than your score, and applying uses a soft credit pull, so it won’t affect your credit.
How are payments made?
Remittances are a set daily or weekly amount based on an estimate of your revenue, debited automatically from your business bank account. If your sales drop, you can request a reconciliation and your remittance is adjusted to match your actual receipts.
Can I pay off early?
Most VitalCap offers include an early payoff discount, which lowers your total payback if you pay off ahead of schedule. Your underwriter will tell you whether your offer includes one.
What if my sales slow down?
Your remittance is based on an estimate of your revenue, not a fixed schedule. If your sales drop, contact us and request a reconciliation. We’ll review your recent bank statements and adjust your remittance to match your actual receipts.