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FAQ

Frequently Asked Questions

Find answers to the most common questions about merchant cash advances and working with Olam Funding.
What is a merchant cash advance?

A merchant cash advance (MCA) is a lump sum of capital provided to your business in exchange for a percentage of your future daily revenue. It’s not a loan — it’s a purchase of your future receivables, which makes it faster, more flexible, and more accessible than traditional bank financing. There is no interest rate; instead, you’ll see a fixed factor rate applied to your advance amount.

Olam Funding provides merchant cash advances ranging from $5,000 to $500,000 depending on your monthly revenue, time in business, and overall business health. We tailor every offer to your unique financial profile.

Most applications receive an approval decision within 2–4 hours. If approved before 3:00 PM ET, funds can be wired directly to your business bank account the same day. Otherwise, funds typically arrive the next business day via ACH transfer.

Generally, you need at least 6 months in business, a minimum of $20,000 in monthly revenue, an active business bank account, and a FICO score of 500+. We consider all credit types — past credit challenges or a previous bankruptcy won’t automatically disqualify you. We focus on your actual business performance.

Repayment is automatic and revenue-based. A small fixed percentage is deducted daily or weekly from your business bank account via ACH. On slower days, you pay proportionally less. There are no fixed monthly payments to worry about, and no penalties for paying early.
Applying for a merchant cash advance with Olam Funding only requires a soft credit pull for initial review, which does not negatively impact your personal credit score. Your business credit may be reviewed as part of underwriting.
No. An MCA is technically a purchase of your future receivables at a discount. This distinction means MCAs are not subject to the same regulations as traditional loans, and there is no APR or interest rate — instead you’ll see a factor rate, which determines the total payback amount clearly disclosed before you sign.
Absolutely. Many of our clients come to us after being turned down by traditional lenders. We evaluate your business based on revenue and cash flow, not just your credit score. We say yes when other funders say no.
No hidden fees whatsoever. We believe in complete transparency. The total cost of funding is clearly disclosed upfront before you accept any offer. What you see is what you pay — no surprises.
Once approximately 50% of your advance has been repaid and your payment performance is satisfactory, you become eligible for a renewal — typically at improved terms. Our renewals team actively reaches out to help you access additional capital when you need it most.

We work with businesses across virtually all industries — retail, construction, healthcare, food service, transportation, professional services, manufacturing, e-commerce, and many more. Contact us directly if you have questions about your specific industry.

To get started, you’ll typically need 3–4 months of business bank statements (4 months if you’re in California or New York), a valid government-issued ID, and a voided check. No tax returns or lengthy financial packages required upfront — we keep it simple.

A factor rate is a multiplier used to calculate your total repayment amount. For example, a factor rate of 1.30 on a $50,000 advance means you’d repay $65,000 total. Factor rates typically range from 1.10 to 1.50 depending on your risk profile and term length. Unlike interest rates, factor rates are fixed and clearly disclosed upfront.

Yes, you can pay off your advance early at any time without prepayment penalties. In fact, paying early may reduce your overall cost of capital and help you qualify for better terms on your next advance. Contact your funding specialist for a payoff quote.

Since repayments are automated via ACH from your business bank account, missed payments typically happen due to insufficient funds. If this occurs, reach out to your account manager immediately. We work with you to find solutions — communication is key. Chronic NSFs may affect your renewal eligibility.

Your daily payment is calculated by dividing your total payback amount by the number of business days in your term. For example, if you receive $50,000 with a factor rate of 1.30 over 6 months (~132 business days), your daily payment would be approximately $492. Weekly payments work similarly but divide by weeks instead.

We typically require at least 6 months in business to qualify. If you’re a newer business, we encourage you to apply once you’ve established consistent revenue and bank deposits. Startups with under 6 months of operating history are generally better suited for alternative funding sources.

Absolutely. We use bank-level encryption (256-bit SSL) to protect all data submitted through our platform. Your documents and personal information are stored securely and never shared without your consent. We take data security as seriously as any financial institution.

In some cases, yes — this is called “stacking.” However, we generally recommend consolidating existing advances before taking on additional debt. If you have an existing MCA, let us know and we’ll work with you to find the best solution. Transparency about your current obligations helps us serve you better.

Daily payments are deducted every business day (Mon–Fri), while weekly payments are deducted once per week. Daily payments spread out the cost more evenly, while weekly payments may be easier to manage for businesses with fluctuating daily revenue. You can often choose your preferred frequency.
We’re a direct funder with in-house underwriting, which means faster decisions, better terms, and no broker fees. We offer complete transparency, dedicated account managers, real-time support (Mon–Fri, 9AM–8PM EST), and a focus on building long-term relationships — not just one-time transactions.

Our inbox is monitored in real-time to ensure timely replies and updates. Expect a fast response from a real member of our team — not an automated system.

Ready to Fund Your Business?

Join thousands of business owners who trust Olam Funding for fast, transparent merchant cash advances.

Complete our simple pre-qualification form and receive a personalized funding offer — no obligation, 100% secure, built for your business.

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