FAQ

Frequently Asked
Questions

Find answers to the most common questions about merchant cash advances and working
with Olam Funding.

A merchant cash advance (MCA) is a form of business funding where you receive a lump sum of capital in exchange for a percentage of your future daily revenue. It is not a loan — repayment is flexible and scales with your sales.
We fund from $5,000 to $500,000. The amount depends on your average monthly revenue. Most businesses qualify for 75%–150% of their average monthly deposits.
Most businesses receive an offer within 2–4 hours of submitting a complete application. Funding via wire transfer typically occurs the same business day the agreement is signed.
Most businesses qualify if they have been operating for at least 6 months, generate $20,000+ in monthly revenue, have a FICO score of 500+, and maintain an active business bank account with 5+ monthly deposits.
A fixed percentage of your daily or weekly revenue is automatically debited from your business bank account until the advance is fully repaid. Payments adjust with your revenue — less on slow days, more on busy days.
No. We perform a soft credit pull only, which does not impact your credit score. The soft pull allows us to verify identity and assess creditworthiness without affecting your credit.
No. An MCA is not a loan. It is a purchase of future receivables. There is no interest rate — instead a factor rate is used. Because it is not a loan, it is not subject to the same regulations as traditional bank loans.
Yes. Banks deny businesses for many reasons — thin credit history, insufficient collateral, or time in business. We approve based on your revenue, not just your credit score. Many of our clients were previously denied by banks.
No. We disclose all costs upfront in your offer: funding amount, factor rate, total payback, and estimated payment. What you see is what you sign. No origination fees, no annual fees, no surprises.
Most clients are eligible for a renewal after repaying 50% of the original advance. Your funding specialist will proactively reach out when you are eligible.
You can use your MCA for any legitimate business purpose: inventory, payroll, equipment, marketing, repairs, expansion, or anything else your business needs.
We fund most industries including restaurants, retail, healthcare, construction, trucking, professional services, e-commerce, and many more. Contact us if you're unsure about your industry.
A signed merchant application, 3–4 months of business bank statements, a government-issued photo ID, and a voided business check. No tax returns or business plans required.
A factor rate is the multiplier used to calculate total repayment. For example, a $50,000 advance at a 1.30 factor rate = $65,000 total repayment. Factor rates typically range from 1.10 to 1.50.
Yes. You can pay off your advance at any time. Because MCAs use a factor rate rather than an interest rate, the total payback amount is fixed regardless of when you pay it off.
Because repayment is a percentage of daily revenue, payments naturally decrease when sales are slow — making missed payments uncommon. If you experience an unexpected hardship, contact us immediately to discuss options.
Your daily payment is calculated as: (Funding Amount × Factor Rate) ÷ Number of Business Days in the Term. Use our calculator for an instant estimate.
We require a minimum of 6 months in business with consistent revenue. We generally do not fund startups with less than 6 months of operating history.
Yes. All data is transmitted via SSL encryption. We partner with Plaid for bank verification — your bank credentials are never shared with us. We follow all applicable data privacy laws.
Yes. We consider second and third position funding for qualified businesses with strong revenue. Your funding specialist will review your current obligations and revenue before making a recommendation.
Daily payments are debited Monday–Friday on each business day. Weekly payments are debited once per week, typically on Mondays. Weekly payments are a single larger amount; daily payments are smaller and more frequent.
We are a direct funder — no brokers, no middlemen. We offer same-day decisions, transparent terms, dedicated account managers, and competitive rates. We invest in long-term relationships, not one-time transactions.

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