Merchant Cash Advance

Overview

With emerging Digital India, merchants have also started accepting plastic money (Debit/Credit Cards) using the POS Machines for the convenience of customers. Now a days POS machines are not just used as a mode of accepting payment but also becoming a great alternative to raise finance by merchants.

Merchant Cash Advance is a unique offering from TAB Capital Limited which helps you convert future POS card swipes into current cash flows.

Retailers, traders, and restaurant owners can avail Merchant Cash Advance, if they accept credit or debit card payment for the daily business transactions. Merchant Cash Advance for small businesses can be used for execution of various business activities and satisfy your short-term operational requirements.

Features and Benefits

Features

  • Loan amount up to Rs. 2 crores You can get loan amounts up to 2 times of your monthly card sales
  • Repayment tenure up to 3 years You can expect greater convenience with repayment tenure up to 3 years
  • Nil prepayment charges* There are absolutely no prepayment charges levied if you repay the entire loan amount before the completion of the tenure

Benefits

  • Higher Loan Eligibility We offer higher loan eligibility in order to help you suffice your Loan requirement
  • Minimal documentation & quick processing We also offer minimal documentation along with super-fast processing
  • Disbursement within 2 working days Funds are disbursed within just 2 working days for small businesses which help get access to urgently needed capital

Eligibility and Documents

Eligibility

  • Age of key person should be in between 21-55 years
  • Business stability of more than 1 years
  • Annual business turnover should exceed Rs. 15 lakhs

Documents required

For getting a Merchant Cash Advance, the following documents are needed:

  • KYC Documents:
    • A copy of PAN Card.
    • Proof of Address: (Passport Copy / Aadhaar Card / Electricity Bill / Registered Rent Agreement)
    • Statutory documents: In the case of Proprietary Firm: Shop Act, GST Registration Certificate, Udyog Aadhaar Memorandum, VAT Registration, other Registrations as applicable.
    • Statutory documents: In the case of Private / Public Limited Company/One Person Company: MOA & AOA, Certificate of Incorporation, Certificate of commencement of business in case of the public limited company, GST Registration Certificate, Shop Act, Udyog Aadhaar Memorandum, VAT Registration and other Registrations as applicable.
    • Statutory documents: In the case of Partnership Firm: Registered Partnership Deed, In Case of LLP: LLP Agreement, Shop Act, Udyog Aadhaar Memorandum, GST Registration Certificate, VAT Registration and other Registrations as applicable.
  • Income Documents:
    • Last 2 years Financials (IT Returns, Computation Sheet & Balance-sheet) and Proof of turnover vide latest sales/service tax returns and Invoice / Purchase Order Copy (for loan against receivables)
    • Last 1-year bank statement of an operative bank account.
    • Details of all existing loans: Sanction Letter and Loan Account Statement for last 1 year.
  • Profile:
    • Brief Profile of the Promoters and Company / Firm
  • POS Machine Transaction Statements:
    • Last 1-year Bank Statement of POS Machine Transactions

How to Apply

You can apply for a Merchant Cash Advance through the following steps:

  • Apply Online
  • Scan and upload documents online
  • Verification & assessment
  • Get funds credited to your bank account within 2 working days

Contact Us

For applying offline/any other query, you can reach out to us at:

FAQs

  • What is the purpose for using Merchant Cash Advance?

    You can use this funding for short term working capital needs or even for expanding your business among other needs.

  • Can the loan amount be prepaid early?

    Yes, you can prepay the loan amount before the completion of the full tenure and there are no prepayment charges* that are levied by TAB Capital Limited.

  • I already have a business loan. Will this impact my eligibility for Merchant Cash Advance?

    No, this will not impact your eligibility for Merchant Cash Advance provided you should meet the basic criteria & need to provide necessary documents.

*Terms & Conditions Apply