How much can I qualify for?
A first-look estimate of your funding range, worked out the way an underwriter would from average monthly revenue, time in business, open positions and credit band.
This is not an offer, just an estimate built from four inputs. Bank statements set the real number. How this is calculated.
The working
The starting range runs from 80% to 125% of the average month's deposits, which is how most first-position programs size an advance. Here are three adjustments, made the same way an underwriter trims an initial estimate:
- History: multiply by 0.75 below 12 months, by 1.0 at 12–23 months, and by 1.15 at 24 months or more.
- Open positions: multiply by 0.75 for each one, to a maximum of three.
- Credit band: × 0.8 below 580; × 0.9 for 580–669; × 1.0 for 670–739; × 1.1 for 740 and up.
We round each result to the nearest $1,000 and never show less than $5,000. Most programs won't start with less than six months of history or $10,000 a month, and when that's the case the calculator tells you rather than making up a figure.
Your average daily balance, negative days and industry can push a real offer up or down, so this is no substitute for your statements.
How large a merchant cash advance can I qualify for?
A typical first advance comes to 80–125% of average monthly deposits, so a business that deposits $40,000 a month would usually see offers of $32,000 to $50,000. Being in business for less than a year lowers the range, every open position lowers it more, and the owner's credit band can push it slightly up or down. Your statements decide the amount; your score decides which partners are in play.
Does my credit have to be good to get business funding?
A bank term loan or line of credit usually calls for a score of 680 or higher and two years in business. With advance and revenue-based programs, an owner with a score in the 500s is routinely approved if the statements are clean, though at a higher factor rate, because deposits count for more than the score. Below 580 the field of partners narrows.
Can I qualify with existing advances?
It often happens with a second position, and rarely past a third. Every open position already takes a slice of daily receivables, which means a new partner will advance a smaller amount at a higher price. Taking several at once usually violates the first agreement, so read it before you add another.
Is this estimate an offer?
No. It applies the same arithmetic an underwriter uses for a first look to the four inputs you provided. What a real offer looks like comes down to the partner's own program, your industry and three to six months of complete bank statements.
Want to see how your own numbers come out?
Send one request with three months of statements and get options from our network of funding partners in plain dollars, or a straight answer that a bank would serve you better.