Qualifying for a merchant cash advance is far easier and faster than qualifying for a bank loan. No long application, usually no collateral, and approval can come the same day you apply.
Here's exactly what Lenifi looks at, and how to make your file as strong as possible.
The 4 Core Requirements
At least 6 months in business. Six months gives us enough revenue history to judge your cash flow and set a repayment schedule that works. If you're newer, apply once you hit 6 months.
A business checking account. All MCA funding goes into, and is repaid from, a business checking account. Personal accounts don't qualify. If you don't have a business account yet, open one before you apply.
$15,000 or more in monthly revenue. Monthly revenue matters more than anything else. Lenifi requires at least $15,000 a month in deposits to your business checking account. Stronger revenue means a higher potential amount and better terms.
500 or higher personal FICO score. We check your score with a soft pull, not a hard inquiry, so your credit isn't affected. We accept scores as low as 500, far more flexible than most traditional lenders. A higher score may get better terms, but 500 is the minimum.
What Documents Do You Need?
Lenifi keeps the application simple. In most cases you'll need: the online application (about 2 minutes), your last 3 months of business bank statements, a government-issued photo ID, and a voided business check or bank letter confirming your account.
For some files, especially larger amounts, we may also ask for your latest business tax return or a year-to-date profit and loss statement. Your specialist will tell you if anything else is needed.
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Apply NowWhat Strengthens Your Application?
Consistent monthly deposits. Steady revenue beats sharp spikes and drops. Funders want predictable cash flow.
Few or no NSF (non-sufficient funds) events. Overdrafts and returned items are a red flag. Clean statements make your file much stronger.
Few negative days. Days when your balance hits zero or goes negative signal cash flow stress. A balance that stays positive is a strong sign.
Strong average daily balance. The higher your average daily balance relative to your monthly deposits, the better. It shows you are managing cash well.
Limited existing advances. If you already have advances outstanding, we'll weigh what you owe. Stacking is decided case by case, based on the strength of the whole file.
Common Reasons for Denial and How to Avoid Them
Less than 6 months in business: wait until you hit 6 months, then apply.
Monthly revenue below $15,000: grow revenue first, or apply for a smaller amount.
Too many NSF events: steady your cash flow for 30–60 days before applying.
Personal FICO below 500: improve your score before applying. Paying down debt and clearing collections or judgments can raise it fairly quickly.
Active bankruptcy: an open or recent bankruptcy may affect eligibility. Contact our team to talk through your situation.
Checking your eligibility with Lenifi takes 2 minutes and doesn't affect your credit score. Apply, and a dedicated specialist reviews your file the same day.
About the author
The Lenifi Underwriting Desk
Lenifi's underwriting desk works out of New York. We review merchant cash advance and term loan files every business day, reading bank statements, existing advances, revenue consistency, and time in business, and we publish the same criteria our underwriters use, so nothing in these guides is theory. Figures quoted here reflect our own published criteria, commission terms, and funding timelines.
Educational content only. It is not legal, tax or financial advice, and approval terms vary by file. Reviewed and maintained by the Lenifi underwriting and partner desks.
Questions? Contact our team or apply in 2 minutes.