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Uplyft Capital: Get a Merchant Cash Advance with Same Day Funding

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Uplyft Capital offers a merchant cash advance with same-day approval and next-day funding. Since 2012, Uplyft Capital has provided small businesses fast and reliable access to working capital needed to fuel growth and success.

If you’re looking for quick access to a no collateral merchant cash advance, our Uplyft Capital review will help you determine if this type of business funding is for you.

Uplyft Capital merchant cash advance review

Uplyft Capital is a good fit for: Small businesses with at least six full months of demonstrated sales.

Pros

  • Get same-day approval
  • $5,000 and $500,000 by the next business day
  • Pre-payment discounts
  • No collateral required
  • No hidden fees

Cons

  • Requires copies of your business’ recent bank statements
  • Requires frequent (daily or weekly) repayments

How Uplyft Capital works

Like most merchant cash advance providers, Uplyft Capital allows you to borrow against future earnings to access the capital needed today. Merchant cash advances are typically funded much more quickly than other small business financing options. Here is the process:

Apply online

It only takes a few minutes to fill out a simple one-page online application. You can apply for unsecured working capital for amounts ranging from $5,000 to $500,000 with no collateral required.

Fast approval

Once required business checking account statements are received, approval typically occurs the same day.

Funding offer

If approved you’ll be presented with a funding offer. Once you accept an offer and sign an agreement, Uplyft Capital will wire the funds to your business account within 24 hours, sometimes even the same-day funding.

Merchants with multiple businesses

Uplyft Capital can provide funding for multiple businesses. You will not have to submit personal information again but you will be required to submit business checking account statements for your other business.


How Uplyft Capital compares with merchant cash advance Blursoft.com

The merchant cash advance at Blursoft.com offers funding up to $500,000 but one of the major differences is that Uplyft Capital is a direct lender and Blursoft.com is a matching service that connects applicants with lenders and third parties. How they compare:

Uplyft Capital merchant cash advance

  • Uplyft Capital is a direct lender that values a long-term relationship with small businesses
  • Merchants can apply for a single business or multiple businesses
  • Get same-day approval
  • $5,000 and $500,000 by the next business day
  • At Uplyft Capital, merchants can call or email customer support
  • Pre-payment discounts to merchants who use funds for a period significantly shorter than what was contracted
  • No collateral required

Merchant cash advance Blursoft.com

  • Blursoft.com is a matching service that does not endorse any particular lender
  • Blursoft.com partners with a network of 47 lenders
  • $10,000 and $250,000
  • You’ll get a decision in as few as 24 hours.


Can a startup get a business merchant cash advance?

No. Startup businesses may qualify for Uplyft Capital’s business line of credit or microloan but not for the merchant cash advance. The reason startups don’t qualify for a merchant cash advance is that funding is based on borrowing against future earnings to access that capital today.

Startup businesses typically don’t have a consistent record of earnings. Daily sales and business checking account statements may be insufficient to support approval. A line of credit may be a better solution for start-up capital needs.

Benefits of merchant cash advances

Small business loans are generally paperwork intensive, meaning in most situations, SBA loans are not well suited for business owners who need cash right away. The entire SBA loan process generally takes about 60 to 90 days.

Here are the benefits of a merchant cash advance:

    • Quick access to funds. Merchant cash advances are funded much more quickly than other forms of business financing
    • Easy approval process. A merchant cash advance offers business financing without the hassle.
    • Accessible to businesses with bad credit. Merchant cash advances are usually easy to qualify for even if you have bad credit.
    • Suitable for a range of business purposes. Borrow against future earnings to access that capital today for just about any small business needs like working capital, equipment, inventory business expansion, and more.

Downsides to merchant cash advances

A merchant cash advance is a flexible way to receive the cash for your business’s financial needs but it can also be an expensive form of business financing.

  • Repayment based on your sales. You pay back the merchant cash advance through a percentage of your debit card and credit card sales.
  • Reduced cash flow. Daily deduction of credit card sales reduces cash flow.
  • Lack of regulation. Merchant cash advances are not considered business loans so there’s very little regulation around the industry.

Before taking the offer of a merchant cash advance consider the terms as well as the APR you’re offered and make the best decision for your business financing needs.

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