While it is true that you can get a merchant cash advance in as little as 72 hours, that is dependent on how prepared you are to deal with your lender. There are some requirements that need to be satisfied before you are approved, including verification of the right equipment to process payments. A business cash advance requires more than just an application, there is also business paperwork required to help the lender determine your ability to repay the loan with your credit card receivables. The more you delay in getting these items done early, the longer it will take to process your application leaving your looking at least 10 days or more to actually get the funds. Here’s a few things to help speed up the process.

Become An Approved Processor Early

This is what can essentially halt the process much more than any other aspect of the application. Specific type of credit card processing equipment that does split funding is required before you can be given a business cash advance. That means you need to have some credit card processors that are willing to work with your lender to ensure they get a portion of your future receivables. You may think you can use your present credit card provider, but they may not have this option and it will delay your application. In the event you do have to switch processors, it can add several days to the entire application process. Don’t feel rushed to switch to a more expensive processor. Your cash advance lender should be able to direct you to some processors they’ve worked with before who have similar rates than your old processor.

Get Your Paperwork In Order

Documentation for your credit card receivables, and business income, is necessary. Some other types of documentation like landlord verification will also be required. If you’re not sure what you need to get, contact the lender early to be sure you have all your paperwork in order.

Give Out Your Current Contact Information

If you want to remove obstacles to approval, be sure to list current contact information on your application. If you have a cell phone where you can be reached, or a business fax, this can tremendously speed up the process, rather than waiting for emails to be lobbed back and forth across the Internet. Once you are able to talk to someone directly, be sure you are giving the lender exactly what they need to speed up the approval of your loan.

Be Patient

It does take more time and effort to get approved for a merchant cash advance than just 24 hours. Be patient with the process and the quickest you can expect the funds to arrive is 72 hours. Otherwise, the most common time frame to receive the funds is at least a week, if not two. The more you are able to meet the lenders requirements and settle on terms agreeable to you both, the easier and quicker it will be to get the money you need to fund the shortfalls in your business.