Yellowstone Capital Merchant Cash Advance
Yellowstone capital is a merchant cash advance company. They are ok with poor credit, provide 2-8 month terms on advances, and have a fast 48 hour funding decision process. Yellowstone capital is a New Jersey based company which non-collateralized merchant cash advances to small businesses. They are ok with businesses that are stable, yet may have poor credit history. If this is your first time looking for a merchant cash advance deal, it might help to educate yourself about merchant cash advances before speaking to a company like Yellowstone Capital.
Merchant cash advance from companies like Yellowstone Capital is something businesses can turn to when they need short term funding, and may not qualify for a traditional loan, term loan, or SBA loan. In general, you should be prepared to pay a premium interest rate on the funds you get.
Typically, in order to qualify for a merchant cash advance loan, you should be in business for at least a year, have a good history of revenue for the last few months. Yellowstone Capital can provide loans anywhere from $2k to $500k, with a length of 2-8 months.
MCA’s are different than traditional loans
Rather than charging an interest rate(like on a traditional loan), MCA’s have you pay back a flat amount which is equal to the amount you borrow multiplied by a factor rate. For example, if you borrow $10,000 at a factor rate of 1.46, you might end up paying back $14,000 to $15,000. Needless to say, it can be expensive money! The weird quirk with merchant cash advance is that the faster you pay it off, the higher the effective APR is. Some MCA companies are ok with you paying off the advance early, but this can vary by funder. Unlike a traditional loan, you’ll be making payments daily, or weekly, with a merchant cash advance. This is done daily by an automated clearing house. Cash advances can be paid back via a % of your daily credit card revenue. MCA’s from companies like Yellowstone capital are unsecured, meaning you don’t need specific collateral.