Does the merchants credit score matter?
The short answer is yes. The credit score always matters. The better the merchant’s credit score is, the wider the range of financial opportunities offered to him and his business. With a Merchant Cash Advance, your credit score will matter significantly less than it would if you were to apply for a bank loan. It is one characteristic of a Merchant Cash Advance that many business owners have said that they really appreciate. We have approved merchants with credit scores as low as 500, and a significant percentage of our merchants have credit scores greater than 600. One firm requirement is that the FICO credit score must be over 500. Does this mean everyone who applies gets approved? No. But of those who do get approved, almost all of these qualified applicants will have less than perfect credit scores. Each case is handled on an individual basis. This is why it is so important for you, our representative, to gather the necessary facts and to collect the few required documents. Back to
