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Frequently Asked Questions

Who We Are

Who We Are

Lendora Inc. has established itself as a leading specialist in the Merchant Cash Advance (MCA) industry. Each month, our funding specialists work with business owners across various industries to help them acquire the working capital needed to reach their business goals. We understand the serious investment of time and resources that business owners make when chasing the dream of starting and operating their own businesses. We at Lendora Inc. pride ourselves on helping turn those dreams into realities by stepping in to support our clients when their banks turn them down for loans. At Lendora Inc., personal credit is not a barrier to business funding. Rather, we look at your time in business, your business growth potential, and your business’s monthly revenue stream.


What is a Merchant Cash Advance?

Merchant Cash Advance products are small business loans of $5K - $500K offered to eligible businesses that accept Credit Cards. These loans are offered in 6, 12, and 18 month terms and are unsecured by business assets.

Am I eligible for a Merchant Cash Advance?

To be eligible for a Merchant Cash Advance, your business must:

  • Accept major Credit Cards (Visa, Master Card, American Express, Discover)
  • Have a minimum of $100,000 in annual business revenue
  • Have a minimum of $10,000 in monthly credit and debit receivables
  • Have been in business for at least 12 months (we will consider strong applicants with less than 12 months on a case by case basis)
Please note that not all industries will be eligible for Merchant Cash Advances.

How can I use Merchant Cash Advance funds?

Because a Merchant Cash Advance is a commercial loan, proceeds may only be used for business purposes. In addition, these funds may not be used to pay dividends to principals, to purchase real estate or fund construction, or for personal, family or household purposes.

What do I need to apply?

Along with your basic contact information, you will be asked to provide the following when you apply:

  • Tax ID Number
  • Total Annual Credit & Debit Card Receivables
  • Credit Card Processor Name and Number
  • Total Annual Business Revenue
  • Social Security Number
  • Date of Birth
  • Copy of Driver’s License
  • Copy of voided check for the business account where the money will be deposited and ACH’d
  • Percentage of Ownership
  • Type of Business Entity
  • 3 most recent months Business Bank Statements
  • Business Bank Account Details (bank name, routing number, account number)
You may be asked to provide additional details and documentation depending on your loan amount and repayment plan. A few examples are: additional bank statements, or monthly statements from processors, personal credit score and proof of ownership.

I was told I was pre-approved - what does that mean?

Pre-approval means your business is qualified and meets our preliminary approval requirements, but it doesn’t guarantee final approval. Approval of your application is subject to there being no material changes to the financial condition or creditworthiness of you and/or your business, fraud review and other conditions.

What loan terms does a Merchant Cash Advance offer?

For loans > $35K and ≤ $500K, we offer 6-month, 12-month, or 18-month terms, and for loans ≤ $35K, we offer 6-12 month terms. Your repayment options will be determined following a review of the information you provide when you apply.

Is this a bank loan?

No. It’s not a bank loan, in fact, it’s not a loan at all. It is literally a purchase of your future receivables from your merchant processing sales.

How is the amount of capital I receive determined with an advance based off my credit card sales?

We will typically offer between 125-200% of you average monthly credit card sales. On the first advance we extend you it can be a little closer to 125%, particularly with those who have poor credit. However, once we establish a credit relationship with you, that percentage increases. So if you’re making $50,000 a month in credit card sales and it’s you first merchant cash advance with Lendora, we would offer you roughly $75,000.


What’s a fixed fee?

A fixed fee is a percentage of your loan amount and is repaid automatically over the course of your term as part of your total repayment. With a Merchant Cash Advance, there’s no interest rate or variable APR.

How is my fixed fee determined?

Your fixed fee is determined by Lendora and is based on the creditworthiness of your business and other factors, including your processing arrangements, referral source, and the length of your term.


How long does it take to get funded?

We do our best to disburse funds as quickly as possible. After completing their application, most approved merchants receive funds within 1 business day or same day if completion is prior to 4:15pm EST.

How do I get my funds?

Your funds will be direct deposited in one lump sum into the business bank account into which you receive settlements for your credit and debit card transactions.


How do I repay?

A fixed amount will be automatically debited from your business bank account(s) each business day until your loan is fully paid off. Fees for insufficient funds may apply.

How long does it take to pay back a Merchant Cash Advance?

Anywhere from 6-18 months typically, depending on the amount of the advance and a few of other variables such as length of time in business or number of active Merchant Cash Advances.

Can I repay early?

Yes; there are no pre-payment penalties for repaying early. In fact, your business could qualify for a rebate on your fixed fee so long as there’s been no default on your loan.


How do I renew my loan?

You may be eligible to apply for more money once you’ve repaid at least 50% of your loan. To apply for a renewal, please call a Merchant Cash Advance Specialist at 855-536-3672, Monday through Friday, 8am - 6pm PST.