West Virginia

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 West Virginia

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

Trusted

We're frequently interviewed by major media organizations.

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.

Honesty

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

West Virginia Merchant Cash Advance
If you’re a business owner and you’ve never heard of a merchant cash advance, it’s time to learn what it is and how it works. This type of cash advance works in favor of small business owners who need funding to help with their business but do not have the ability to secure a small business loan and/or they don’t have time to wait to secure a traditional loan. A merchant cash advance is great for West Virginia business owners who want to grow their business, but you need to understand how it works before you take on this type of funding.

What is A Merchant Cash Advance?

West Virginia business owners who take credit card payments are eligible to take on this kind of funding by repaying the money they borrow with their credit card sales. A portion of all credit card sales each day is used as a form of repayment for this type of loan. The lender takes the money directly out of your credit card sales via an ACH withdrawal from your bank on a regular basis.

Rather than repaying this loan over the course of several years by making monthly payments, the lender takes different payment amounts each day. The payment they take each day differs because they only take a set percentage of your sales. If you sell less via credit card payments one day than you do the next, the first day will come with a much lower payment than the second day. It takes anywhere from four to nine months to repay this cash advance depending on the gross sales of your business and what you repay daily.

Who Can Get A Merchant Cash Advance in West Virginia?

Anyone who owns a business and takes credit card payments can apply for a merchant cash advance. This type of loan is best for those who don’t meet the minimum requirements for a traditional small business loan. For example, a lender might ask you to provide a business history of at least a year or more. You must also meet specific credit requirements both personally and professionally. You must have a business plan that’s laid out in precise detail, and you must be able to work through the process of a traditional loan.

If you have the proper documents, you can easily apply for a merchant cash advance. All you need is a copy of your driver’s license, your business tax returns, bank statements, your credit score, and your business credit card statements. Once you turn in this documentation, it takes you anywhere from a day or two to secure your funding. It’s a great way for you to secure funding without waiting weeks.

How Much Does it Cost?

The biggest caveat of a loan of this nature is the cost of the loan. One thing you must understand about a merchant cash advance is that it’s an expensive form of borrowing compared to a traditional business loan. However, when you’re unable to secure a business loan, you might not mind paying a little bit more right now to grow your business with the funding you need.

The concept of a merchant cash advance includes a factor rate. This is not the same thing as an interest rate. A factor rate traditionally ranges anywhere from 1.14 to 1.48, and that is comparable to a 15 percent interest rate. Depending on your credit score, your factor rate might be as high as a three-digit interest rate. You must understand the conversion prior to apply for a merchant cash advance.

If you own a business, you know that there is nothing more important than learning to grow your business. You need to have money to spend to make money to grow. This means you have to have capital, but that’s not always easy to come by. What you must do is understand what you need, borrow only that amount, and have a business plan that supports your lending requirements. If you know your loan can make you more money than you’re spending, it’s a good investment. This is not the kind of loan you want to take if you’re not sure you can grow or flourish.