Oklahoma

Small business owners can use loans to grow their business. You can use the funds however you wish.

Cover Expenses

Pay for any unexpected expenses that arise.

Invest in your business

Use the loan to grow your business however you wish.

Payroll

Use the loan to pay your employees.

Liquid

Keep the cash on hand for future expenses.

Equipment

Buy new equipment to grow your business.

Staff

Use the loan to hire new employees.

We Fund Fast

24-48 Hours

Loans up to

$10 Million

Google Rating

5 Stars

Delancey Street Can Help with Oklahoma

We're committed to building relationships and helping people all over the USA get access to the RIGHT loan for them. Regardless

Trusted

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Easy Application

Our app process is super easy. All it takes is one application, and we handle the rest for you.

Service

Service is key. You can ask for advice on ANYTHING and we'll bend over to help.

Experts

Many of our team members are former business owners, and understand your challenges.

Customized

We customize each loan for you, and to your unique specs. Everything is customized.

Universal

We help virtually any industry, any business, anywhere in the USA. It doesn't matter.

Nationwide

We fund business loans nationwide. It doesn't matter where you are, we can help you.

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This is crucial, and critical. We are 100% honest with our clients, and never strive for less.

Hear from people we’ve helped

“Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.”

- Leena, VP of Sales at Waist Karma

Small business owners may find an Oklahoma merchant cash advance to be the perfect source of emergency funding when cash flow declines.

What Does a Merchant Cash Advance Involve?

A misconception exists about merchant cash advances. Small business owners confuse advances with loans. While similar to a loan, an MCA isn’t precisely the same as one. With an MCA, a financing company fronts cash to a business and, in return, receives a flat fee along with a percentage of credit and debit card revenues.

Merchant cash advances provide business with a simple, streamlined means of acquiring a business cash advance. Unlike a loan, an MCA does not require any collateral nor do applicants need a strong credit rating.

Loan and Fee Amounts

Many types of businesses may benefit from a merchant cash advance. The loan amounts range from $2,500 to $250,000. Fees are in the 1% range, and approvals can arrive within two days. The overall application process doesn’t require many steps. Business owners won’t agonize over filling out complex forms.

Be mindful that the fees will be higher than is the case with standard loans. Switching to a different merchant service provider isn’t easy, and cash flow decreases due to the deduction from credit and debit card payments. Many business owners, including those with bad credit, may discover an MCA to be a viable arrangement.

Applying for a Merchant Cash Advance

The average applicant owns a business in operation for more than two years and generates roughly $180,000 in revenue per year. Average credit scores rank in the 500 range.

When a business owner applies for a merchant cash advance, the financing company looks at the credit/debit card statements carefully. After all, these statements represent the means for repayment on the cash advance. Revenue streams here become more critical than credit scores. However, credit scores, along with bank statements, will likely undergo some examination.

Merchant cash advance applications usually require online submissions. Online applications speed up the proceedings. Expedited processing makes it possible for news on possible approvals to arrive within one day. Applicants must submit certain items to be considered for an Oklahoma MCA.

Businesses Suited for an MCA

Certain businesses might find a merchant cash advance deal preferable than standard loan options. Retail stores and dining establishments deal with a significant amount of credit card transactions. Therefore, these types of businesses could be a proper fit for an MCA arrangement.

Businesses that require a short term infusion of capital to cover debt, inventory, unexpected expenses, and tax obligations. The process of applying for funds involves the submission of essential items such as a drivers license, bank statements, business tax returns, a voided business check, and credit card processing statements. Submitting the requested documents does not entail performing any unnecessary steps. As long as the applicant provides all required information, the application should move along on time.

Risks and Fees

The fee rate on an Oklahoma merchant cash advance comes with a rather high price. How do the fees compare to an annual percentage rate? The fees would be equivalent to an APR of more than 15%. While costly, paying the excessive fee may be the only option for the merchant. Not every business owner has multiple sources of emergency funding available.

The repayment time varies from business-to-business. On average, repayment takes around 8 to 9 months. Of course, some may pay their obligations off sooner while others may take a little longer. Terms commonly range from four months to 18 months. Applicants should select the most feasible terms with timely repayment in mind.