Frequently Asked Questions

Hi, how can we help?

The Capify Merchant Cash Advance (MCA) is a simple solution for businesses that accept credit card/EFTPOS sales and are also seasonal. As an alternative to traditional business finance, the MCA is designed to match the cash flow of your business, so rather than being a fixed sum each month or fixed daily repayments being taken directly from your bank account, a small percentage of the businesses credit card and EFTPOS terminal sales are repaid daily for the term of the cash advance. This means greater flexibility to make lower repayments during slower periods.

 

The MCA is ideal for businesses who accept credit and debit card payments from their customers; like retailers, pubs, bars and restaurants.

A merchant cash advance is good for seasonal businesses that have multiple EFTPOS transactions daily, weekly or monthly. It works with your cash flow needs because if you only make a certain amount of money on one day through your EFTPOS machine no matter how much you make only the agreed percentage with Capify gets taken out and you pocket the rest. Businesses who could find a cash advance helpful are cafes, restaurants, bars, retail shops, fashion boutiques, beauty stores, homeware stores, and health businesses.

An application is a fast ten-minute application over the phone with one of our experienced lending specialists.

 

Once it goes to our credit department, you can be fully approved in less than 2 hours, funded in 24 hours for a small business loan and 48 hours for our merchant cash advance. (Approval time based on receiving all required documents during the application process).

 

Once approved your conditional approval will last up to 30 days.

To apply for a Merchant Cash Advance with Capify you need to meet the following eligibility criteria;

 

– A minimum of 2 months in business and $10,000 monthly turnover
– A minimum of 15 credit or debit card settlements a month
– Must be an Australian citizen or permanent resident
– Registered business ABN or ACN

 

Please note you will still need to meet Capify’s standard credit assessment criterias and T&C’s to get approved for an MCA.

All our loans are unsecured and do not require any security or assets.

No, we unfortunately do not allow split payment between fixed and variable rates.