Frequently Asked
Questions

A Merchant Cash Advance is not a loan — it's a purchase of your future business receivables. We give you a lump sum of capital upfront, and in exchange, a small percentage of your daily or weekly revenue is automatically remitted until the agreed amount is paid back.

Because it's not a traditional loan, it's not subject to the same regulations as bank loans, making approvals much faster and more flexible.

Several key differences:

• Speed: Bank loans take weeks or months. MCAs fund in 24–72 hours.
• Credit requirements: Banks need good credit. We focus on your revenue.
• Collateral: Most bank loans require collateral. MCAs typically don't.
• Repayment: Bank loans have fixed monthly payments. MCAs flex with your revenue.
• Cost structure: Bank loans use APR. MCAs use a factor rate.

There are virtually no restrictions on how you use your funds. Common uses include:

• Purchasing inventory or equipment
• Covering payroll during slow seasons
• Marketing and advertising campaigns
• Renovations and expansion
• Paying down higher-cost debt
• Seizing a time-sensitive business opportunity

Our basic requirements are:

• At least 6 months in business
• Minimum $10,000/month in gross revenue
• A business bank account
• You are the owner or authorized signer of the business

We work with many industries including restaurants, retail, construction, medical, trucking, and more.

Yes! We look at the overall health of your business, not just your credit score. Business owners with personal credit scores as low as 500 can still qualify.

Our primary focus is on your monthly revenue, business banking history, and time in business — not your FICO score.

We work with virtually every industry, including:

• Restaurants & food service
• Retail stores
• Auto repair shops
• Construction & contractors
• Medical & dental practices
• Salons & spas
• Trucking & transportation
• E-commerce businesses
• Gyms & fitness centers
• Law firms & professional services

If your business generates consistent revenue, we want to help!

Yes, in many cases we can work with businesses that already have existing funding. This is called a "consolidation" or "stacking" situation. We'll review your current obligations and structure a deal that works for your cash flow.

Our process is simple and fast:

• Step 1 — Apply: Fill out our 5-minute online application or call us at 855-785-2281
• Step 2 — Submit docs: Send us 3 months of business bank statements
• Step 3 — Get approved: Receive your offer within hours
• Step 4 — Get funded: Funds in your account within 24–72 hours

We keep it simple. You'll typically need:

• Completed application form
• 3 months of business bank statements
• Copy of a government-issued ID
• Voided business check (for ACH setup)

In some cases, we may ask for additional documents depending on the funding amount or your industry.

Funding amounts range from $5,000 to $500,000 depending on your monthly revenue, time in business, and overall business health. Most businesses qualify for 50%–150% of their average monthly revenue.

A factor rate is how the cost of an MCA is expressed. It's a simple multiplier applied to your funded amount. For example:

• You receive: $50,000
• Factor rate: 1.30
• Total payback: $50,000 × 1.30 = $65,000

Factor rates typically range from 1.15 to 1.49 depending on your business profile. All costs are disclosed upfront before you sign.

No. We believe in complete transparency. Before you sign any agreement, we will clearly disclose:

• The funded amount
• The factor rate
• The total payback amount
• The daily or weekly remittance amount
• Any origination fees (if applicable)

There are no prepayment penalties on most of our products.

Repayment is automatic. A fixed daily or weekly amount is debited from your business bank account via ACH. The amount is agreed upon upfront and stays consistent — it doesn't fluctuate with your sales (unlike traditional MCAs based on credit card splits).

This predictability makes budgeting simple.

Yes! In most cases you can pay off your advance early. Some of our funding partners offer early payoff discounts — meaning you may pay less than the original payback amount if you settle early. Ask your funding advisor for details on your specific offer.

Absolutely. Once you've paid down approximately 50% of your advance, you may be eligible to renew for additional capital. Many of our clients renew multiple times as their businesses grow. Renewals are typically faster since we already know your business.

Yes. We take the security of your financial and personal information extremely seriously. All data is encrypted and handled with strict confidentiality. We will never sell your information to third parties. See our Privacy Policy for full details.

You can reach us multiple ways:

• Phone: 855-785-2281
• Email: info@eljaycapital.com
• Address: 2715 Coney Ave, Brooklyn, NY 11235

Our team is available Monday–Friday, 9am–6pm ET.

We're here to help! Call us at 855-785-2281 or apply online and a funding advisor will reach out to answer all your questions personally — no pressure, no obligation.