What kind of businesses qualify for a Business Cash Advance?
Sun Funding Solutions grants Business Cash Advances to over 200 different types of businesses, including Nail, Hair, Beauty Salons, Restaurants, Auto Repairs, Dentists, Super Markets and hundreds of other retail business and service providers. To ensure that your individual business qualifies for this program, please contact us or complete the Quick Contact Form. There is no obligation and no cost for the inquiry.
What information do you need from me for your application?
- Application completed and signed by principles/owners
- 3 months most recent credit card processing statements (all pages)
- 3 months most recent bank statements(all pages)
- Photo of the principles/owners Driver’s License
- Copy of voided business check lender will use to ACH transfer your funding to
Additional documentation may be required for a larger business funding or exceptions requested.
Will bad credit affect my Business Cash Advance request?
A Business Cash Advance is not based solely on your credit score. We consider several factors to determine your approval. Therefore it is not necessary for you to have good to excellent credit in order to receive an advance.
What is the repayment process?
In most cases you have two convenient options:
- An ACH weekly or daily debit from your authorized business checking account. We will inform you of your exact payment amount, and an online loan management portal allows you to monitor the activity.
- Percentage Payment. We work with your Credit Card Processor to collect a small percentage of your daily Visa and MasterCard receivables until your Merchant Cash Advance is settled.
Would I need to change Credit Card Processors?
In most cases you do not have to change processors because we do have an ACH program.
How much do you charge for an application fee ?
Sun Funding Solutionsdoes not charge an application fee .
How long does it take to get approved?
Once we receive your application, approval can take up to two (2) business days.
How long will it take for me to get the money?
Upon approval, your funds are typically wired into your bank account within five (5) business days.
If I need additional funds, does my account have to be paid in full?
Once you have successfully repaid 60% of the principal of your loan, you are eligible to apply for a renewal.
Can I repay a Business Cash Advance at any time without penalty charges?
Certainly! You can always pay off your remaining balance on the advance at any time without any penalty charges.