Forward Financing Merchant Cash Advance Review 2025
Forward Financing’s MCA helps entrepreneurs secure funding as high as $300,000.
Overview
The bottom line:
Forward Financing’s merchant cash advance may be a good option for bad-credit borrowers in need of fast financing of up to $300,000, but, like all MCAs, the funding cost will be high.
Loan details
Min. Loan Amount
$5,000
Min. Term Length
3 months
Max Loan Amount
$300,000
Max Term Length
12 months
Qualifications
Min. credit score
500
Min. Time in Business
12 months
Min. Annual Revenue
$120,000
Pros & Cons
Pros
Low credit score requirement compared with other MCAs NerdWallet evaluates.
Can be used to build business credit.
Solid user ratings on platforms like Trustpilot and Google.
Cons
High origination fees.
Daily or weekly repayments required.
Need to contact company to request a payment adjustment if your business’s revenue drops.
Forward Financing is an online lender that provides merchant cash advances
Founded in 2012 and headquartered in Boston, Forward Financing works with business owners in all 50 states. The company has earned strong reviews on platforms like Trustpilot and Google, reflecting positive customer experiences.
Did you know...
MCAs are not technically small-business loans
Forward Financing is best for borrowers who:
- Can’t qualify for traditional business financing. Many traditional business loans have high barriers to entry, especially bank loans. With Forward Financing’s MCA, you may be able to secure funds with bad credit, no collateral and 12 months in business.
- Need fast access to cash. Depending on when you apply, you may be able to receive funds the same day.
- Want a short-term solution. MCAs are designed for short-term needs, not long-term financing. With Forward Financing, you’ll pay back the advance over an estimated 3 to 12 months.
- Have strong profit margins. Since MCAs are costly, they’re best suited for businesses with healthy profit margins. This helps ensure you can cover the repayment while still managing day-to-day expenses.
🤓
Merchant cash advances are typically one of the most expensive types of business financing. In general, you should consider all other small-business funding options before an MCA. Nerdy Tip
Forward Financing MCA requirements
To qualify for an MCA from Forward Financing, you’ll need to meet the following minimum requirements:
- Credit score: 500.
- Time in business: 12 months.
- Annual revenue: $120000.
...
Forward Financing MCA features
| Advance amount | $5000 to $300000. |
| Estimated factor rate | Not disclosed. |
| Fees |
|
| Estimated term length | 3 to 12 months. |
| Repayment schedule | Daily or weekly. |
| Funding speed | Approval within hours and funding as soon as the same day. |
Where Forward Financing stands out
Easy access to funds
Forward Financing says its application process takes minutes, with approval decisions typically made within a few hours. If approved before 3:00 p.m. ET, borrowers may receive funding the same day. As part of the application, Forward Financing collects basic personal and business information and connects to business owners’ bank accounts via Plaid for easy access to bank statements.
Borrowers may also tap into additional funds without having to submit a new application if they’ve paid back at least half of their current cash advance.
» MORE: Best fast business loans
Can be used to build business credit
Forward Financing reports borrowers’ payment activity to Experian Business Credit, one of the three major business credit bureaus. Its startup-friendly qualification criteria can help newer business owners with strong cash flow establish a business credit
From Our Nerds: Convenient funding is helpful, but can be a double-edged sword
“Forward Financing’s streamlined application process and easy access to additional funds can be a lifeline for business owners in urgent need of short-term capital. However, that convenience can be a double-edged sword. If you repeatedly tap into more cash advances, you may find yourself unintentionally entering a cycle of debt that’s hard to get out of.”
Ryan Brady, lead writer, Small Business
Where Forward Financing falls short
High origination fees on smaller advances
Forward Financing charges an origination fee, which is an upfront cost borrowers pay. This fee scales with the size of the cash advance, and for smaller funding amounts, it can be relatively steep. For example, the company charges $495 on advances between $5,000 and $10,000. This translates to an origination fee of between 5% and 10%. That’s relatively high compared with other MCA providers NerdWallet evaluates, some of which don’t charge an origination fee at all.
Have to reach out to account executives to adjust payments
Forward Financing withdraws payments from your business bank account based on estimated revenue at the time you applied. While payment amounts may be adjusted if your sales decline, you'll need to contact an account executive to request a change — an extra step that may be inconvenient for some business owners.
Alternatives to Forward Financing
Fundomate
Consider if: You need more funding than Forward Financing offers.
Fundomate is another online provider offering MCAs to small-business owners. It offers larger funding amounts up to $500000, making it a good alternative for business owners seeking a higher advance. Like Forward Financing, it requires at least 12 months in business and $120000 or more in annual revenue, but has a slightly higher minimum credit score requirement (600 vs. Forward Financing’s 500).
Uplyft Capital
Consider if: You can’t meet Forward Financing’s time in business and revenue requirements.
Uplyft Capital may approve business owners with as little as 6 months in business and $102000 in annual revenue, making it a more accessible option for startups that don't meet Forward Financing’s slightly stricter requirements. Uplyft also has a lower credit score requirement, only 475. And if you need slightly more than what Forward Financing offers, Uplyft Capital can issue MCAs up to $500000.
» Interested in more options? Check out our list of best merchant cash advance companies