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Flexi-Merchant Advance

meet short-term business needs with collateral-free loans

Eligibility criteria for Merchant Cash Advance Loans

  • Business with at least 12 months history
  • Annual Business Turnover of at least 12,00,000 rupees
  • Net Profit of at least 3,00,000 rupees
  • You have a registered POS device and accept card payments
  • You have been using the machine for at least 6 months
  • You accept card payments of at least 50,000 rupees per month
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Merchant Cash Advance Loans

 

Are you looking for a loan to expand your inventory or products and maybe procure new brands as per customer demands? However, distributors ask for upfront payments and you don’t want to make bulk payments at the end of the month at the cost of working capital for inventory procurement. Even banks aren’t ready to consider lending a small amount to shops. NBFCs, on the other hand, follow a very long process of documentation and data processing which can be time consuming. You can avoid all the hassles if your business accepts payments via POS/EDC device through a credit or debit card.

 

We can provide you with quick funding to scale up your business offline or procure new stock for the upcoming festive season. We can help you to solve your short-term hurdles to stay ahead of the competition curve. The best part is that the entire process is based on the transaction history of your card swipes.

 

Adopt our pay-as-you-swipe repayment via your POS sales for easy repayments

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Benefits of FlexiLoans Merchant Cash Advance Loans

time

Disbursal within 48 hours

money

Top-up in case of timely repayment of loan

quick

Quick and seamless processing

nohidden

No Hidden Charges/Fee

money

Refund in case of excess deduction

devices

Fully online process

Features of FlexiLoans Merchant Cash Advance Loans

 

  • Repayment from POS/EDC Sales
  • Daily repayment to minimize the burden of  monthly EMIs
  • One-time processing fee up to 2%
  • Interest rates basis eligibility
  • Flexible tenure up to 12 months
  • Credit limit of 15– 60 days of Average Monthly Turnover basis eligibility

Documents required for Merchant Cash Advance Loans

 

  • All bank statements of last 12 months
  • KYC documents for yourself and your organization*
  • Financial documents*
  • Shop establishment certificate
Loan Process
  • Fill

    Fill Online Form

    Fill the online Application Form in less than 15 minutes

  • Upload

    Upload Documents

    On submission, FlexiLoans generates Credit Score in less than a day

  • Receive

    GET APPROVED

    Sign the documents and get the loan approved in less than 48hrs

How to apply for Merchant Cash Advance Loans with FlexiLoans

 

  • Register with us or login to your dashboard
  • Complete our application form by filling up the required details
  • Upload the relevant documents on our website
  • Once you are sanctioned a loan subject to eligibility, accept the loan agreement by logging on to the site
  • Loan will be disbursed to your loan account within 48 hours
  • You will be informed about the split %age to be debited from your card swipe settlement as part of the agreement you accept
  • Split %age is decided basis your financials and credit profile
  • For example, if we keep split %age as 5%, for every 100 rupees you swipe via your card machine, 5 rupees will be paid towards the loan. Rest of the 95 rupees will be credited to your account by your POS machine provider after deducting commissions (if any)
  • This recovery will be daily and will depend solely on the amount your customers’ swipe
  • At the end of the month, we will calculate the amount received by us from your machine.
  • In case, we receive any excess amount, the same will be refunded to you within 2 working days
  • In case, we receive any shortfall in the amount received, we will be presenting an NACH or a cheque to recover only the shortfall amount
  • This process will continue till your entire loan is repaid
  • Like any other loan, you can choose to prepay the loan without any charges

Documents required for Merchant Cash Advance Loans

  • List of KYCs accepted
  • PAN Card (Mandatory) and
  • Any one of
  • Aadhaar
  • Passport
  • Voter’s ID
  • Driving License
  • Electricity Bill
  • Ownership Documents
  • Shops Establishment Certificate
  • VAT/Service Tax Registration Certificate
  • Certificate of Incorporation
  • For any loan above 5 Lakhs
  • 12 months of All Bank Statements
  • List of Financial documents to be submitted
  • ITR (Income Tax Return)
  • 2 years of audited P&L Statements

FAQS

How can Merchant Cash Advance help you?

 

If you have good Credit / Debit Card sales in your store, Merchant Cash Advance can help you get a working capital loan against your future card sales. You get easy access to funds and repay money daily via your card machine.

 

How does Merchant Cash Advance work?

 

We will provide you with a working capital loan based on your last 1-year card sales data. We work with your card machine provider to deduct a percentage of your daily sales as installment towards the loan.

 

Do you have to provide any collateral or security?

 

We provide 100% unsecured loans and you do not have to provide any collateral or security for a Merchant Cash Advance loan.

 

How can you pay installments against the loan?

 

The loan installments are automatically deducted daily from your card sales settlement. Balance amount is automatically collected from your bank account via NACH at the end of the month.

 

What are the charges for Merchant Cash Advance loan?

 

We only charge a processing fee of 1-2% when a loan is sanctioned to you. There are no other charges for the loan.

 

Who can qualify for Merchant Cash Advance?

 

  • Business with at least 12 months history
  • Annual Business Turnover of at least 12,00,000 rupees
  • Net Profit of at least 3,00,000 rupees
  • egistered POS device and business accepting card payments
  • Using the card machine for at least 6 months
  • Accepting card payments of at least 50,000 rupees per month

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