Merchant Cash Advance
Merchant Cash Advance or POS or Swipe Machine finance is a short term quick means of raising small working capital where enterprise can convert future POS card swipes into current cash flows.
Usually retailers, traders, and restaurant that accept credit and debit card for daily business transactions can avail Merchant Cash Advance. This capital can be used for execution of various business activities and fulfilling short-term operational requirements of the enterprise.
Point of sale/swipe machine user enterprise can avail this finance.
Lender lends finance to enterprise on the basis transaction through the POS/swipe machine. It shouldn’t be less than Rs. 2 lac.
It’s a quick and easy finance for enterprise (retailer/wholesaler/distributor etc.)
Short-term, Quick and easy.
Who Can apply
Private Ltd, Public Ltd, LLP, Proprietor
Business continuity proof of last 3 years.
Rented Real-estate property.
Any Retailer, wholesaler, distributor etc.
Minimum 12 months card swipe history.
Minimum 2 lac monthly transaction through POS/Swipe machine.
Minimum 2 years of business operational history.
1 year bank statement of the company.
PAN card of the company.
PAN card of the Promoters/Directors.
Business registration document.
Company address proof.
3 years balance sheet, P&L with audit report.
3 years I.T.R of the company.