Get Same-Day-Deposit Business Cash Advance With Minimal Paperwork
Capitalize on opportunities with a merchant cash advance. Minimal paperwork and no collateral required.
$200,000,000+
total dollars funded
4,000+
businesses helped
Funding Amounts From
$10,000 – $10 million
Available Terms
6 – 18 months
Time To Funding
Same Day Deposit
What is a Business Cash
Advance and
How
Does It Work?
A business cash advance, also known as MCA funding, is a type of loan that is based on the future revenue that a company will produce. In other words, a company can receive a small business cash advance immediately, and then cover it by selling future sales to the lender at a discounted rate.
Unlike a traditional loan, where you can borrow a fixed sum and then pay interest until the amount is paid in full, a business cash advance uses a fixed sum that will need to be paid back in the form of a percentage of all future sales.
For this reason, these types of capital cash advance funding options are popular among companies that deal with point-of-sale technology, such as those operating in retail or hospitality. A cash advance for business allows companies to pay back the loan by giving back a percentage of every single transaction, making it much easier to manage.
Funds available within hours
Merchant Cash Advance funds quickly with minimal paperwork. Once contracts are signed, funds are wired within hours.
Freedom of unsecured funding
Get funded based on future sales without strict credit card requirements or collateral. And there’s no prepayment penalty. Ever.
Credit isn’t perfect? No problem.
We understand your credit doesn’t reflect the health of your business. We review banking statements to get the full picture.
Fixed cost of capital
We keep things simple for better budgeting and cash flow management. No variable APR or interest rate. Just fixed cost of capital.
How Does Our Process Work
Step 1: How to Apply for
Cannabis Business Loans
To apply for a cannabis business loan, you will need to provide the same documentation needed for a traditional business loan, in addition to:
Step 2: A Business Plan
and Project Plan
You will need to present a professional, polished business plan to your desired lenders. It should thoroughly detail the scope of your business. Address your business’s operations, market analysis, legal environment, and any additional information that will convince lenders to invest.
Step 3: Fully Disclosed Financials
All cannabis business owners must disclose financial projections. For startups, share personal financial information, such as past credit history, investments, and debts, of all those involved in your venture. Ideally, they should each have a FICO score of at least 700.
Step 4: State Licenses and Background Checks
Before applying for funding, review state guidelines. Proactively seek state licenses and certifications. Also, present your lender with a recent background check from the state you plan on operating your business. This creates confidence and reduces perceived risk.
We are here to help, but don’t
just take our word for it.
"Our distributors were charging us premiums because we didn't have the money to pay for our inventory in advance. L3 arranged a merchant cash advance within days and we were able to capitalize on huge discounts available to much larger businesses. We've never looked back since and consider L3 a long tern partner."
Chad, Spokane, WA
$155,000
Total Funding Deposited
4 hours
Time to funding
"Our oven stopped working right before our busy tourist season and our bank denied our loan request. L3 Funding was able to get us the cash we needed in a couple of days and we were back in business in time to handle the rush of customers. L3 has been an awesome partner and they really provide peace of mind."
Alex, Myrtle Beach, SC
$75,000
Total Funding Deposited
24 hours
Time to funding
"We were rapidly scaling but our customers would take too long to pay our invoices. We had to choose between growth or stability. Our bank wouldn't even consider our special circumstances and denied our credit line outright. The financing with L3 Funding opened up our cash flow and helped us expand a lot faster than we ever could alone."
Justin, Austin, TX
$48,000
Total Funding Deposited
48 hours
Time to funding
Don’t waste any time.
Apply Now to Get
Funding
Fast!
You have questions, we
got answers
What is the Application Process Like?
Requirements for a line of credit will depend on each lender. However, lenders typically look at the following few factors when approving a LOC:
-
Collateral: As mentioned previously, for a secured business line of credit, the lender will require you to put up some sort of asset.
-
Business history: The longer your business has been in operation for, the easier it is for lenders to approve your line of credit.
-
Profitability: Lenders will check for cash flow and income statements to verify business profitability.
-
Credit score: Having a good credit score is especially important if you want a business line of credit with no personal guarantee. Similar to an unsecured real estate line of credit or even your regular credit card, lenders scrutinize personal credit scores a lot more with an unsecured loan, since they are the ones taking on the risk.
What Do You Need to Be Approved?
A business line of credit can be used to cover any type of business-related expenses. There are not a lot of restrictions besides using it for business purposes. It is, however, typically used as a short term line of credit for fulfilling immediate or temporary business needs. These needs can include:
-
Fulfilling payroll or staffing requirements
-
Paying suppliers
-
Increasing inventory
-
Funding a marketing campaign
-
Repair or upgrade equipment
-
Cover seasonal lulls in cash flow
-
Emergency funds
Why L3 Funding is the Right
Choice for
Your Needs
At L3 Funding, we specialize in providing flexible business cash advance terms to small and medium businesses. We understand that every situation is unique, and try to work with companies to offer a solution that is the most beneficial for their particular needs.
And since your business might need funding right now, we have streamlined the application process to make it as short as possible: you can have funds delivered to your account within hours, with minimal paperwork required. Unlike many other business cash advance lenders, we don't ask our clients to provide collateral, and we don't judge them based on their credit score alone, so you can get rates and terms that are more favorable.
Finally, our simple business cash advance approach doesn't have variable APR or interest rates. Instead, we use a simple and easy to understand fixed cost of capital approach. Apply for the working capital you need today!
Talk To Our Funding Specialists
Get funding options quickly with no obligation and an easy application process.
Let us get to work for you.