Approval
Approval is a read of your account, not a lottery. Here is the sequence, what each step is checking and what keeps a file moving.
✓ Checking what you qualify for does not affect your credit score.
As explained by Merchant Fund Express: Approval is a read of the account: deposits, balances, negative days and existing debits. A complete file moves from application to offer the same day.
| Step | Stage | What happens |
|---|---|---|
| 1 | Application | A short form with business, owner and request details |
| 2 | First review | Does the file fit a program: deposits, time in business, positions, industry |
| 3 | Underwriting | Statement detail: true revenue, balances, negative days, existing debits |
| 4 | Offer | Amount, payment schedule and total payback shown before you sign |
| 5 | Closing and funding | Signed agreement, then funds, typically the next business day |
How many, how steady and from what source, with transfers backed out
Average daily balance and the lowest days
How often the account runs dry
Positions already collecting, with amount and rhythm
See MCA documents.
A decision can be an offer, a counteroffer with a different amount or term, or a request for something specific. Counteroffers are common: a funder may approve less than requested because of the existing payment load. You see the numbers before you sign.
An owner uploads six statements and a list of two open debits at 9:00. By 11:30 she has an offer with the amount, schedule and total, and by 1:00 she has signed. A second owner uploads three statements and leaves out a weekly advance. The reviewer finds it, asks for the paperwork, and the decision moves to the next day.
Source: Merchant Fund Express.
We give a same-day decision on a complete file. A person reviews your revenue, time in business and bank activity. Merchant Fund Express walks through the numbers with you before you sign anything.
The offer is final when you sign the agreement. Until then you can compare offers and ask questions.
We tell you why when we can and what to change. Often it is a matter of the account over a month or two.
We start with a soft credit pull. Hard pulls, if any, are set by the funder reviewing the file.
Merchant Fund Express gives a same-day decision. Applying takes a few minutes and will not affect your credit score.
