Although CAN Capital offers lower advance amounts than Rapid Finance, they’re also a worthwhile option for startups with at least six months in business, as well as businesses with bad credit (as they have no minimum credit score requirement).
In addition to their short-term loans, CAN Capital offers merchant cash advances in amounts up to $250,000 with factor rates ranging from 1.15 to 1.48. It is important to note, however, that CAN Capital charges a $595 administrative fee on all MCA products.
This being said, CAN Capital requires daily repayments for their MCAs and they estimate most of their customers take six to 18 months to pay back the advance. As with most merchant cash advance companies, CAN Capital can provide funding very quickly, in as few as two business days.
You can apply for an MCA from CAN Capital with minimal paperwork online and receive funds as fast as the next business day after approval.