F.A.Q.

We provide working capital in the form of a Merchant Cash Advance.

We require that you submit four bank statements and a completed MCA application.

To qualify for an MCA, you will need to submit at least four bank statements. We may also be required to run a credit check.

As fast as 4 hours from when we get a completed application and at least four of the latest bank statements.

Yes! By coming to us, you can skip the brokerage fees.

A factor rate is the difference between the amount we advance you and the amount of your receivables that we purchase.

Alternative lending is a term used to describe a wide variety of fundings outside of a traditional bank loan, including: merchant cash advances, factoring, and accounts receivable financing.

There are two major factors that affect your application: your bank deposits and the length of time you have been in business.

Our advance amounts range from $5,000 to $250,000 with payment terms generally between three and twelve months.

Our application process is simple and typically takes about 10 minutes. You can apply online or over the phone by calling 516-236-9818.

We deduct a fixed payment from your business bank account on a daily or weekly basis, depending on the product you are approved for. This amount is based on historical percentage of your average daily receivables. The fixed amount can be adjusted from time to time depending on your future experience. These fixed payments help ensure minimal impact to your cash flow and prevent the snowball effect often caused by missing larger monthly payments. You can request your balance statements and pay off letters by emailing us at submit@fastcapitalsource.com or calling us at 516-236-9818.

Our merchant cash advances are generally secured.

We are faster than a bank or any other alternative provider of funds on the market. Unlike banks, we can deliver decisions in minutes or hours and we value your overall business performance – not just your personal credit score. We build your business credit and deduct fixed daily or weekly payments, rather than a batch percentage of your sales.

We work with more than 700 different kinds of businesses in all 50 U.S. states, including restaurants, retailers, auto repair shops, healthcare professionals, HVAC contractors and many other service providers, provided they are grossing $10,000 per month.

Small business lending has been slow to recover since the recession. Traditional lenders lack an efficient system to underwrite small businesses, so many tend to defer to the personal credit score of the business owner as a measure of creditworthiness. It’s also cost prohibitive to underwrite smaller sized loans – it’s more profitable to make a $3,000,000 loan than it is a $30,000 loan.

We use our advanced scoring technology to make financing decisions based on the health of the business, rather than a personal credit score. We look at a variety of data points when analyzing businesses, and are able to deliver decisions in minutes or hours and funding in as fast as 1 business day.

Fast Capital Source is different than traditional lenders in a several ways:

1. Our advances are between $5,000 and $250,000, with terms generally between 3 and 12 months. Bank loans are typically larger – up to $5 million – and can have terms anywhere from 2 to 25 years.
2. Fast Capital Source makes funding decisions in minutes or hours and can deliver funding in as fast as 1 business day, while banks can take up to 2 weeks to review the application and an additional 30 to 60 days to fund the loan if approved.
3. Fast Capital Source also deducts a fixed, payment directly from your business bank account each business day or weekly, which helps to ensure minimal impact to your cash flow. Traditionally, banks collect payments on a monthly or quarterly basis.