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| Merchant cash advance | Term loan | Line of credit | |
|---|---|---|---|
| Rate range | Factor 1.1 - 1.5 | 2% APR | 7.99% APR |
| Interest charged on | A fixed factor on the advance | The full amount from day one | Only what you draw |
| Repayment | A share of daily card sales | Fixed payments, set end date | Revolving, minimum payment |
| Re-borrow without reapplying | Renewal only | No | Yes |
| Best when | Card revenue is steady but assets are thin | A sized investment with a payback horizon | Cash-flow gaps that come and go |
| Watch out for | Factor pricing costs more than the rate suggests | Prepayment terms differ by lender | No end date means a balance can persist |
It is a purchase of future receivables. The provider advances a sum and takes an agreed share of daily or weekly card sales until a fixed total is repaid.
That distinction has three consequences that matter:
It is priced as a factor, not a rate. A factor of 1.3 on $50,000 means repaying $65,000. Full stop.
Early repayment saves nothing. The repayment total is fixed at the outset. Repaying in four months rather than eight costs the same amount and simply costs it faster.
It is not covered by the 35% interest cap in the same way an interest-bearing loan is, because the structure is a receivables purchase rather than a loan at interest.
10 of the lenders in our network price this way.
The arithmetic is simple and rarely presented.
Advance amount multiplied by the factor equals total repayment. The difference is the cost.
$50,000 at a factor of 1.3 repays $65,000. The cost is $15,000.
Whether that is expensive depends entirely on the repayment period, and the repayment period depends on your sales volume rather than on a schedule. Repaid across twelve months, $15,000 on $50,000 is one thing. Repaid across five months because sales were strong, it is a much higher effective cost.
This is why we show factor-priced products separately rather than sorting them into an APR list. Blending the two misrepresents both.
Genuinely, sometimes it is.
A multiplier on the advanced amount. A factor of 1.3 on $50,000 means repaying $65,000, regardless of speed.
No. It is a purchase of future receivables, not a loan at interest, and it is priced and regulated differently.
No. The repayment total is fixed at the outset.
Only with an assumed repayment period, and the result is usually a large number. Because the period depends on your sales, the conversion is an estimate rather than a fact.
It is available to businesses that cannot qualify for term debt, and repayment scales with revenue rather than following a schedule. Both carry cost.
