Any business owner that needs capital right now can apply for a Merchant Cash Advance with Onyx and get the funds deposited into his or her account in 3 days after the application gets approved. We help you turn future credit or debit card sales into working capital that you can use today. Apply today and receive a lump sum of cash in exchange for a percentage of your future credit and debit card sales. Our Cash advances are fast, easy to get, and unsecured, meaning you won’t have to risk any of your personal or business’ assets.
A conventional bank loan places your business at risk of losing the collateral or even hurting your credit score if you default or repay the loan late. Unlike the bank loan, an MCA will not affect your credit score since it is a sales transaction. Collateral is not even required to secure the advance.
Once you submit the application form, we will determine if you qualify for the program and how much capital you can get. If your application is approved, we will transfer the funds to your bank account. Below is the detailed application process:
Complete the business loan application formFill the loan application form with basic details like your name, social security number, business tax identification number, business location, and any other essential information regarding your business.
Provide 4 months of business bank statementsSubmit the documents that will be used to assess your business’s financial health as well as your identity. Some of the documents include your government-issued ID, and a statement showing your business’s credit card transactions.
Approval processAfter completing the loan request form and providing the necessary documentation, a loan specialist from Onyx will approve the advance. Getting approved for an MCA with us is easy.Take a look at some of the features that our cash advance program has for you: