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RATED:
🗺️ Products | Business Loans Merchant Cash Advance |
💰Funding Amount | $10,000 to $300,000 |
📊 Loan Terms | Business loan - No fixed term Cash Advance - 9-12 month or based on sales |
💰 Min. Trading Period | 6 Months |
💰 Min. Trading Turnover | $10,000 a month |
🛍️ Unsecured/Secured | Unsecured |
💳 Funding Speed | 24-48 hour approval Funding 24 hours after approval |
Beyond Merchant Capital (BMC) offers a choice of two lending products, unsecured business loans and merchant cash advance finance facilities. The lender’s primary market is digital natives who require funding fast, with a simple application process and cost structure. Both BCM’s finance products allow you to access capital between $10,000 and $300,000 with a loan term typically 9 and 12 months. You can apply online and have your application approved within 24 hours with the funding accessible to you within 48 hours.
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Loan Products | Unsecured business loan | Merchant Cash Advance |
---|---|---|
Loan Terms & Funding Size | ||
💰 Loan Amount | $10,000 to $300,000 | $10,000 to $300,000 |
⏳ Loan Length | Variable repayments (no fixed term) | Typically 9 to 12 months (fixed) or variable based on % of sales. |
📆Payment schedule | Daily | Agreed % of daily EFTPOS sales |
💳 Line of Credit Option? | ❌ | ❌ |
Loan Costs | ||
💸Fees (exc. interest) | Choice of origination fees | Choice of origination fees |
﹪Interest Rate Type | Factor fee based on loan amount | Factor fee based on loan amount |
🔓 Unsecured Loans? | ✔️ | ✔️ |
👍 Early Repayment | ✔️ (No fees or penalties) | ✔️ (No fees or penalties) |
Loan Qualification | ||
🎓 Qualification Basics | ABN or ACN | ABN or ACN |
🛍️ Min. Trading Qualification | 6 Months | 6 Months |
📅 Min. Turnover Qualification | $10,000 per month avg | $10,000 per month avg |
🗎 Low Doc Loans | ❌ | ❌ |
😕 Bad Credit ok? | Credit check on business & all directors | Credit check on business & all directors |
Approval & Funding Speed | ||
🏍 Approval Speed | 10 minute application Approval with 24-48 | 10 minute application Approval with 24-48 |
💨 Funding Speed | 24 hours after approval | 24 hours after approval |
Beyond Merchant Capital Pros and Cons
Pros
Cons
Products – Types of financing available
- Unsecured business loan
- Merchant Cash Advance (Merchant finance)
Unsecured Business Loans
Unsecured business loan qualification:
Minimum Time Business
6 Months
Minimum Turnover
$10,000 Per Month
Credit History
Credit check on business and directors
Other
ABN or ACN
Photo Identification
Unsecured business loan funding size and loan terms:
Loan Amount
$10,000 to 300,000
Term Length
No fixed term
(9-12 months typical)
Payment Schedule
Daily
Low Doc Loans
No
Unsecured/
Secured
Unsecured
Unsecured business loan costs and fees
Origination Fee
Flexible
Larger upfront/lower loan rate or
Origination fee spread across loan term
Interest Rate
Fixed factor fee
Other Costs
None
No Hidden fees
✓
Early Payment Permitted
✓
Merchant Finance
Merchant Cash Advance eligibility / qualification:
Minimum Time Business
6 Months
Minimum Turnover
$10,000 Per Month
Credit History
Credit Check On Business And Directors
Other
ABN or ACN
Photo Identification
Merchant Cash Advance funding size and loan terms
Loan Amount
80% to 100% Of Monthly Turnover
Term Length
No Fixed Payment Schedule
Payment Schedule
Daily, Weekly
Low Doc Loans
No
Unsecured/
Secured
Unsecured
Merchant Cash Advance costs and fees
Origination Fee
Flexible
Larger upfront/lower loan rate or
Origination fee spread across loan term
Interest Rate
Factor fee consisting of % of future daily or weekly EFTPOS sales
Other Costs
None
No Hidden fees
✓
Early Payment Permitted
✓
Funding Speed
What can you use the loan for?
Ease of application
The application process takes minutes to complete and is as easy as can be. You just need to provide the following information:
- Photo identification for the director or owner of the business
- Evidence that you trading as an Australian business for at least 6 months
- Bank statements that show you generate an average minimum revenue of $10,000 or more per month
- Link your bank account to Proviso (or similar tools) or the most recent 3 month months of bank statements
- 6 months of Merchant statements (for Merchant cash advance)
This can be done online or via a call with a loan specialist from Beyond Merchant Capital