While traditional loans are famous for mountains of paperwork and gratuitous credit pulls, getting a merchant cash advance is a much simpler process.

This is because your qualifications are determined largely by your business’s performance, not stickier things like credit scores and financial histories.

To this end, a lender would want to review your bank statements from the past 3–4 months—basically, your Monthly Deposits will make or break things for you. So even if you haven’t been in business for much longer than a year, when you’ve got more than $5,000 in monthly Bank Deposits, your chances of approval are probably bright.

Lenders will be focusing on the likelihood of getting repaid, so if your business has been relatively successful, they’ll see that as a green light. And this unique approach to approval is reflected in the fact that there are typically much higher approval rates for merchant cash advances than for a traditional business loan.