Beyond Merchant Capital Business Loans

A relatively new player in the world of business loans, Beyond Merchant Capital only entered the market in 2016. They provide a variety of products to small and medium size businesses to help Aussie SMEs grow.

Beyond Merchant Capital business loans - what you need to know

Interested in a Beyond Merchant Capital business loan? We’ve gathered a bunch of the need to knows, from their features to their fees; as well as some info on their rather unique merchant advances option.

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FAQs about Beyond Merchant Capital

How are interest rate determined?

Beyond Merchant Capital doesn’t have interest rates in the traditional sense. Instead, a single total amount is agreed upon as the amount you’ll need to repay. This amount is based on the type of business you operate and the finance term required.

What fees are there?

Much like their unique interest rate system, Beyond Merchant Capital has a unique fee structure. They don’t have any upfront, exit fees or ongoing fees. What they do have is the factor fee; this is the amount you need to repay that’s not the initial loan amount.

For example,  if your loan is $10,000 and you need to repay $10,800, then your factor fee would be $800.

How does the Beyond Merchant Capital approval process work?

All of the Beyond Merchant Capital application process is online, but you can call up and talk to one of their consultants if you need any help with any of the steps. With that said, to apply you’ll need to make sure you provide:

  • photo ID for the owner of the business
  • access to your business data via Proviso or with merchant statements for the last 6 months or with bank statements for the last 3 months

What do I need to be eligible?

There aren’t a tonne of hoops that you need to jump through when applying for a business loan with Beyond Merchant Capital, but there are a couple - you’ll need:

  • a monthly average of over $5,000 in sales
  • been operating for at least 6 months
  • an ABN or ACN
  • to be the owner of the business 
What features should I know about?
Merchant cash advances

Merchant cash advances work a little differently from your standard loan, but may be the perfect fit for you business. Instead of making routine payments, merchant cash advances are repaid through your EFTPOS sales. This works by linking your EFTPOS account to your repayments and a percentage of every card sale goes directly towards your loan. So, if your sales are a little slow, then you repay less, but if everything is trucking along, then you’ll pay off your loan lickity split.

Unsecured loans

Not everyone has access to a house, car or brick and mortar store that they can use as collateral for a business loan. This can sometimes make getting a loan a little tricky, but with Beyond Merchant Capital you’re able to receive a loan without any tangible assets thanks to their option for an unsecured loan.

Borrow up to $500,000

The amount you’re allowed to borrow will depend on which sort of loan you choose to get. Borrowers going with the Merchant Cash Advance can borrow up to $250,000, while those looking for an unsecured loan can borrow up to $500,000.

10-15 minute application 

Spending all day filling out applications is not only a waste of time, but it’s also boring. This shouldn’t be an issue when applying for a Beyond Merchant Capital business loan, as the application process should take as little as 10-15 minutes if you’ve got all your ducks in a row.

48 hour funding 

Getting the funds you need quickly can often be vital for businesses looking to get a loan. Beyond Merchant Capital knows this and aims to get you and your business the funds in 48 hours or less.