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STEP 1

Complete an uncomplicated loan application form. Few minutes are required to complete the loan application form. It is quick, simple, and private.

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STEP 2

Sign your documents and get authorized by one of over 150 reputable lenders - safely and fast. The approval process is quick, so stay in touch.

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STEP 3

Directly deposit the required amount into your bank account. The transfer will occur on the next business day following approval of your application.

Merchant Cash Advances Same Day Funding From a Direct Lender

What is the meaning of merchant cash advance?

Merchant cash advances are short-term loans for small businesses that need money fast. They offer flexible terms, competitive rates, and no collateral. The loan is paid back when the company sells inventory or makes sales. You can get a merchant cash advance here at KashPilot.

Is a merchant cash advance legal?

Yes, it’s legal as long as the business has been in operation for at least six months, like KashPilot. It’s also permitted if the company is new and needs financing to start up. Merchant cash advances are legal in all 50 states. However, they are illegal in some states, such as New York and California. The Federal Trade Commission has issued guidelines for merchants who use these loans. They include:

  • Merchants must be licensed to do business in the state where the loan is made.
  • A merchant cannot charge any fees for the loan.
  • You should only use the loan to cover the short term.

What is the difference between a KashPilot loan and a merchant cash advance?

A loan is when you borrow money from KashPilot for a specific purpose. On the other hand, a merchant cash advance is when you use your business’s credit card to purchase inventory. If you use the money from a merchant cash advance to pay off your debt, you may reduce your interest rate. The advantage of using a merchant cash advance is that you don’t need collateral, making it easier to obtain financing. However, the disadvantage is that you must repay the entire amount at once.

Can KashPilot take me to jail for not repaying?

No. There is no criminal penalty for failing to repay your merchant cash advance. However, you could lose your license to operate your business, though. If you fail to pay back your loan within 60 days, you will likely face additional fees and interest charges. The lender may also report this information to credit bureaus, affecting your ability to borrow money from another source.

Do KashPilot’s cash advances hurt my credit score?

It depends on how many cash advances you take out and whether you make payments on time. If you have a history of taking out cash advances, you’re going to see an adverse impact on your credit score. You’ll want to avoid getting into this situation by making sure you pay off your cash advances before the due date. This way, you won’t damage your credit score.

How can I get a merchant cash advance from KashPilot?

You will need to apply online at KashPilot.com. Some lenders require that you provide them with proof of income, while others allow you to apply without providing any documentation.

You can expect to get anywhere from $1,000 to $5,000 for a cash advance. KashPilot will determine how much they shall lend you.

What happens when you default on a KashPilot’s merchant cash advance?

If you don’t pay back your cash advance, KashPilot may sell your account to a collection agency or file a lawsuit against you. In either case, you will have to pay higher interest rates and late fees. These penalties could lead to more cash advances being taken out against your account.

Can I get a merchant cash advance from KashPilot with bad credit?

Yes! KashPilot offers loans to people who have poor credit scores. If you do not qualify for a loan from a bank, you may still be able to obtain one through a merchant cash advance with bad credit here at KashPilot. Small businesses often use these types of loans to help them pay off high-interest debt and cover unexpected expenses.

How do I qualify for a KashPilot’s merchant cash advance?

To qualify for merchant cash advances from KashPilot, you should be in good standing with all of your creditors. It’s essential to keep track of your outstanding balances and make sure that you always pay off your bills on time. Also, you should ask yourself whether you would be willing to increase your spending if you received a cash advance. To be eligible for a merchant cash advance, you must also own a business.

Does a merchant cash advance from KashPilot involve collateral?

No. A merchant cash advance doesn’t require any collateral as long as you have a steady income stream. Even if you haven’t been paying your bills on time, putting up any assets as collateral isn’t necessary.

What are the alternatives to a KashPilot merchant cash advance?

There are various other options available to people who need money quickly:

A payroll advance (also known as a payroll loan)

Employers usually offer payroll advances to employees. They give you access to funds to pay taxes, insurance premiums, or medical costs. You’ll typically have to repay the amount borrowed plus interest over a set period.

An asset-based loan

Asset-based loans are secured by your personal property, such as vehicles, equipment, or real estate. The value of this property serves as security for a loan. You’ll generally have to provide the lender with evidence of ownership before receiving approval for an asset-based loan.

A vendor finance company

Vendor Finance Companies specialize in providing financing to businesses. They charge lower rates than traditional lenders, but the federal government doesn’t regulate them.

Home equity lines of credit

Home Equity Lines of Credit allow you to borrow against the equity you’ve built up in your home. It is an excellent option for homeowners because it will enable them to tap into the equity they’ve created in their homes without selling their properties.

Business loans

Business loans are another way to get fast cash. You’ll likely have to prove that your company has a history of profitability and stability.

What types of businesses should use a KashPilot merchant cash advance?

If you’re looking for quick cash to meet short-term needs, a merchant cash advance could be suitable for your business. Here are some examples of what kinds of industries might benefit most from a merchant cash advance:

Restaurants and bars

Many restaurants and bars struggle to maintain consistent sales due to slow seasons or increased competition. A merchant cash advance can help them deal with seasonal fluctuations in revenue while giving them more flexibility to plan.

Fitness centers and spas

Many fitness centers and spas rely on memberships to generate revenue. However, when membership fees go unpaid, these companies lose money. A merchant cash advance allows them to avoid waiting until the end of the month to collect payments.

Health care facilities

Some healthcare facilities operate on thin margins and don’t have much room for error. If they miss one payment, they may not be able to cover the cost of services for patients. By using a merchant cash advance, these providers can ensure that they won’t run out of money at the last minute.

Senior Personal Finance Writer at KashPilot | + posts

Editor and writer for over a decade , she has written and edited finance for both national technical and consumer readership, Julia Snearl is the editor for Personal Finance in KashPilot. Her experience in editing business books also includes working as the editor of charts of Ahead of the Curve. More than 3 years' experience in editing content for finance on KashPilot, Julie is interested in learning about how to use digital content to assist people make better financial choices.


Types of Loans We Offer

Installment Loans

Receive your cash and repay it in equal monthly installments. Each payment will include interest, and prepayment is any time without penalty.

Payday Loans

Payday loans online are loans given to people who need money in the short term. Most payday loans are meant for small expenses, such as utility bills or vehicle repairs

Loan Consolidation

KashPilot Offers Loan Consolidation Online for Bad Credit, these are people who can’t manage their loans or can’t repay all the fees and rates (apr) on right time.

Title Loans

KasPilot Offers Title Loans, Your vehicle’s title serves as collateral for a loan you may think of as a secured loan. When you use your car as collateral for a loan



FAQ's

A Payday Loan can be used to cover costs until your next income arrives. Whether you need to pay rent, cover an unexpected medical bill, or purchase groceries, Payday Loans can provide you with the quick cash you require.

You must produce identity, proof of income, a bank statement, and a personal check in order to qualify for a loan. If you do not have a personal check, you can offer a debit card or ACH authorization in several jurisdictions. There is no requirement for personal property to obtain a Cash Advance.

Payday loans are short-term loans owing on the borrower's next payday. Timing is contingent upon your pay schedule.

KashPilot's Payday Loans are accessible to all credit types. When KashPilot evaluates a Payday Loan application, a credit history is among the many elements analyzed.

Yes, Cash Advances are often referred to as Payday Loans. This is a short-term, personal loan that is payable upon receipt of your next paycheck.

State legislation establishes the maximum amount of money you can get through a Payday Loan. In addition, you will qualify for a specific loan amount, within the permissible range, based on your current income.

When evaluating your Cash Advance application, we may use information from third-party data sources to determine your creditworthiness.

Typically, your Payday Loan is payable on your next payday. We provide numerous payment alternatives, including in-person and online payment choices, to make the repayment of your loan easier (varies by state).

KashPilot has assisted thousands of individuals with poor credit by offering a number of financial options, such as Payday Loans, Online Loans, Installment Loans, Title Loans, and Personal Lines of Credit.