Got Questions? We've Got Answers!
What types of small business financing does Meridian offer?
We offer debt consolidations, business lines of credit, equipment financing, sba bridge loans, and property loans. Click Here to read more about what we have to offer.
What documentation is generally required to apply for working capital?
We require that you submit four bank statements and a completed MCA application.
How fast can I get my money?
As fast as 4 hours from when we get a completed application and at least four of the latest bank statements.
How do I know if I qualify?
If you have been in business for over a year and have gross sales of at least $10,000.00 a month than you qualify!
How much will it cost?
Our rates are the most competitive in the industry. We judge each client on a case by case basis, ensuring that you receive the maximum financing for optimal cost.
What if I have bad credit?
A poor D&B rating or personal credit score, including delinquencies will not be the sole determining factor in the approval or decline of a cash advance. We fund deals for businesses with bad credit and with principals who have very low FICO scores.
What industries do you work with?
We work with more than 700 different kinds of businesses in all 50 U.S. states, including restaurants, retailers, auto repair shops, healthcare professionals, HVAC contractors and many other service providers, provided they are grossing $10,000 per month.
How is Meridian different from a traditional bank loan?
Meridian is different from traditional lenders in several ways:
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Your advances are between $5,000 and $1,000,000 with no exact payback term since an MCA depends on your sales. Bank loans are typically larger – up to $5 million – and can have terms anywhere from 2 to 25 years.
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Meridian makes funding decisions in minutes or hours and can deliver funding in as fast as 1 business day, while banks can take up to 2 weeks to review the application and an additional 30 to 60 days to fund the loan if approved.
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Meridian also deducts a fixed, payment which is an estimated percentage of receivables purchased directly from your business bank account each business day or weekly, which helps to ensure minimal impact on your cash flow. Traditionally, banks collect payments on a monthly or quarterly basis.