Business & Merchant Cash Advance The business and merchant cash advance is a type of credit card that can be used to pay for goods or services in the United States. It allows you to make purchases with your debit card, which has a limit of $10,000 per month.
What is a Merchant Cash Advance Loan? A merchant cash advance loan (MCL or MCM) is an unsecured personal credit card with the ability to be used for purchases of goods and services at merchants that accept it. The purpose of this type of loan is to help consumers who are unable to obtain a conventional form of credit.
$5,000 – 200,000
As Soon as 24 Hours
Up to 2 Years
As Low as 18%
Business & Merchant Cash Advance The business and merchant cash advance is a type of credit card that can be used to pay for goods or services in the United States. It allows you to make purchases with your debit card, which has a limit of $10,000 per month.
You can also use your credit or debit cards to purchase goods and services from merchants in other countries. For example, you can use a credit /debit card to buy goods from a U.S. merchant and then pay the merchant with a foreign currency, such as the Canadian dollar. If you pay with your card, the transaction is considered to be a “foreign transaction” and you will be subject to the foreign transaction tax.
You may also be able to deduct the cost of goods you purchase in Canada. This is called an “expense deduction.” Expenses that are not deductible in the year you claim them are called a deduction. The amount of the deduction is equal to the lesser of: the total of all the expenses you claimed that year, or the amount by which your adjusted gross income (AGI) exceeds your allowable expenses for the tax year. If your AGI is less than $ 50,000, you can claim a deduction of up to $2,500.
If you are a Canadian citizen or permanent resident, the following rules apply. You can deduct the cost of goods or services you purchase from an American merchant in Canada.
If you have a business in the United States and you sell goods to Canadians, your Canadian business expenses are limited to the amount of those sales made by you. However, if you make purchases with foreign currency, such as dollars or euros, then any deduction will apply only on amounts paid out after receiving payment in these currencies.
The process to apply for an inventory financing loan is easy. Use our simple online application to get started. One of our friendly Loan Specialists will get in touch to discuss your financing options.