Our top pick for the 5 Top Merchant Cash Advance Companies in 2021 is Blursoft because of their amazing versatility in serving all different types of companies, from start-ups to more mature businesses. Blursoft’s requirements are more forgiving than most companies, requiring a 500+ credit score and minimum 4 months in business. Blursoft is well suited to work with businesses who don’t have good credit or who are just starting out. Credit lines are available starting at $5,000 to $200,000 for 2 years. Blursoft offers many different lines of credit tailored to your business needs.
With an easy, fast, and convenient website with an easy way to apply online, Blursoft makes the application process a snap. After applying online, you’ll then be connected with a loan specialist who will help you choose the right small business loan for you. Approval can come in as few as 24 hours. Plus, Blursoft also offers short-term loans and lines of credit as well as other financing services, so you may also find that another solution from Blursoft that meets your funding needs.
2. Rapid Finance
For number 2 on our 5 Top Merchant Cash Advance Companies in 2021 list we chose Rapid Finance. With only three months in business and a minimum personal credit score of 550 required, Rapid Finance is a good merchant cash advance company for both startups and businesses with bad credit.
Even though Rapid Finance are certainly more expensive than some of their competitors, they are quick and offer the option for daily or weekly payments.
3. CAN Capital
Number 3 on our list of the 5 Top Merchant Cash Advance Companies in 2021 is CAN Capital. CAN Capital provides lower advance amounts, but they can be interesting for startups that have been least six months in business, as well as businesses with bad credit.
CAN Capital offers short-term loans and merchant cash advances in amounts up to $250,000. You should however consider that CAN Capital charges a $595 administrative fee on all MCA products.
CAN Capital demands that you repay daily for their MCAs and says the majority of their customers take up to eighteen months to pay back the advance. You can apply for an MCA from CAN Capital with minimal paperwork online.
4. National Funding
Number 4 on our list of the 5 Top Merchant Cash Advance Companies in 2021 is National Funding. The company provides advances up to $250,000 and has an option for automatic daily repayments as well as fast approval rates.
Conditions to pre-qualify for National Funding are to have been in business for one year minimum and to have over $3,000 of monthly credit card transactions. It is a good option for businesses that have lower revenue. To get started, you need to fill out an online application and send in the last four months of credit card processing statements.
5. Reliant Funding
Our final company on the 5 Top Merchant Cash Advance Companies in 2021 is Reliant Funding. Reliant provides MCAs in amounts up to $250,000 and their factor rates are based on your business’s qualifications. They also have a fast online application and approval process.
To qualify for funding, you must have at least six months in business and $10,000 in monthly credit and debit card sales. No minimum credit score is required, making Reliant an option for businesses with bad credit.