Merchant Cash Advances » Cleaning Service Funding

Cleaning Service Business Advances

Team of cleaners tidying up room for cleaning service business.

By Richard Wilson

Last Updated on

Estimated read time: 7 minutes

If you operate a cleaning service business and need funding to enhance your commercial cleaning capabilities, expand your home cleaning services, or invest in specialized cleaning equipment, MCashAdvance cleaning service business advances are the swift solution you’ve been searching for.

We offer cleaning service business advances ranging from $5,000 to $900,000 to help grow your cleaning enterprise. We fund all types of cleaning businesses, including commercial cleaners, home cleaners, and specialized cleaning services.

Securing financing from banks for cleaning service businesses can be a lengthy and challenging process, often taking weeks or even months to obtain, with strict approval requirements, extensive paperwork, and a preference for businesses with perfect credit.

An advance from MCashAdvance for cleaning service companies offers simpler approval, no paperwork or collateral, the possibility of receiving funds within 24 hours or up to 3 days, and accepts poor credit scores with no hard credit check that won’t impact your credit score upon application.

Get a Cleaning Service Loan Alternative Now

MCA Feature Offer Details
MCA Amounts: $5,000 – $900,000
Factor Rate: 1.1 – 1.5
Holdback 10 – 25%
Repay In: 3 – 18 months
Funding Time: 1 – 3 days

Applying is easy, free, and won’t impact your credit score.

Get the cleaning service financing you need today.

What is a Cleaning Service Business Advance?

A cleaning service business advance is a type of merchant cash advance (MCA) created for cleaning service businesses, including commercial cleaners, home cleaners, and specialized cleaning services.

Your cleaning service business sells a portion of its revenue to MCashAdvance in exchange for an upfront lump sum of funds called a cash advance.

In exchange, we will deduct a small percentage of your daily sales revenue until the advance is fully repaid.

Emergency Funding for Commercial Cleaning Companies

In the commercial cleaning industry, specific financial needs frequently arise, related to the operational aspects of delivering cleaning services, such as equipment procurement, staff training, and compliance with health standards. A cash advance for commercial cleaning companies offers precise financial support, quickly accessible and tailored for the unique requirements of the cleaning service sector.

Cleaning Company Financing for Any Purpose

Here are 17 common ways a cash advance can be utilized in your Cleaning Service Company:

  1. High-Efficiency Cleaning Equipment: Invest the funds in advanced cleaning machinery, like industrial-grade vacuum cleaners, floor polishers, and carpet extractors, to enhance service efficiency.
  2. Eco-Friendly Cleaning Supplies Inventory: Use the capital to stock up on environmentally friendly and green cleaning agents and supplies, meeting the growing demand for sustainable practices.
  3. Specialized Sanitization Technology: Direct the funds towards cutting-edge sanitization technologies, such as electrostatic sprayers and UV-C light sanitizers, for high-level disinfection services.
  4. Employee Training and Certification Programs: Finance comprehensive training programs for your staff in chemical handling, equipment operation, and the latest cleaning techniques, ensuring high service standards.
  5. Personal Protective Equipment (PPE) for Staff: Use the advance to procure adequate PPE, including masks, gloves, and goggles, to protect your cleaning crew and comply with health regulations.
  6. Branding and Marketing Initiatives: Invest in targeted marketing campaigns and branding efforts to expand your client base and enter new commercial markets.
  7. Vehicle Fleet for Mobile Cleaning Services: Direct the capital to purchase or upgrade vehicles equipped with necessary storage and transportation capabilities for mobile cleaning units.
  8. Digital Booking and Management Systems: Use the funds to implement or upgrade digital systems for efficient booking, scheduling, and client management.
  9. Client Relationship Management (CRM) Software: Finance the adoption of CRM software tailored for service businesses to enhance customer engagement and retention.
  10. Work Uniforms and Branding Materials: Invest in professional work uniforms and branding materials, such as vehicle wraps, to enhance company visibility and brand image.
  11. Compliance and Regulation Adherence: Direct the funds to ensure your business adheres to local and national health and safety regulations, including certifications and audits.
  12. Waste Disposal and Recycling Solutions: Use the capital to establish eco-friendly waste disposal and recycling practices for the waste generated during cleaning operations.
  13. Expansion into Niche Cleaning Services: Finance the expansion of your service offerings into niche areas, such as medical facility cleaning, industrial site maintenance, or post-construction cleanups.
  14. Staff Health and Safety Programs: Invest in health and safety programs, including first aid training and ergonomic assessments, to minimize workplace injuries.
  15. Quality Assurance and Inspection Tools: Use the funds to acquire tools and software for quality control inspections and customer feedback collection.
  16. Business Insurance Coverage: Direct the capital towards comprehensive business insurance coverage, protecting against liability and property damage.
  17. Community Engagement and CSR Initiatives: Finance community engagement projects and corporate social responsibility initiatives to build brand goodwill and community trust.
Cleaning service team of man and woman tidying up room with cleaning supplies and equipment.

Janitorial Service Business Advance Example

Let’s say you need $17,000 of cleaning business cash advance to buy a used truck to expand your fleet for your janitorial service business. If you are approved for $17,000 and receive a funding offer with a factor rate of 1.15, your total repayment amount will be $19,550 (Advance Amount + Fees).

Advance Amount$17,000
Factor Rate1.15
Avg Monthly Credit Card Sales$11,000
Holdback Percentage15%
Daily Credit Card Sales$366.67 per day (approx.)
Daily Payment Amount$55.00 per day (approx.)
Repayment Term (in days)Approximately 311 days
Repayment Term (in months)Approximately 10.22 months
Total Repaid$19,550 (Advance Amount + Fees)

Cleaning Company Funding Eligibility

To be eligible for funding from MCashAdvance you must meet these 5 criteria:

  1. Your cleaning service must have been operational for at least 6 months.
  2. Your cleaning business should be generating a minimum of $100,000 per year in revenue.
  3. As the cleaning service owner, your personal FICO score needs to be 550 or higher.
  4. Your cleaning company must utilize a business checking account.
  5. You, as the cleaning service proprietor, must be over 18 years of age and a U.S. citizen.

How to Get a Cleaning Service Advance from MCashAdvance

To get an advance for your cleaning service business from MCashAdvance, follow these 5 steps:

Step 1: Begin Online Application: Click Apply for an MCA to begin.

Step 2: Fill in Your Details: Provide information about your cleaning service business and personal details as the owner.

Step 3: Submit Bank Statements: Upload the last three months’ bank statements of your cleaning service business.

Step 4: Await Review Process: Our underwriters will review your cash advance application to decide on funding.

Step 5: Receive Offer and Funding: Once you get a funding offer, review it. If it suits your business needs, accept it, sign the MCA agreement and the funds will be deposited into your business account

Get a Cleaning Service Business Advance Now

or learn more about merchant cash advance funding

Cleaning Service Company Funding FAQs

Can cleaning service businesses get an SBA loan?

Cleaning service businesses may be eligible for SBA loans, and they are most likely to qualify for options such as the SBA 7(a) Loan, SBA Microloan, and SBA Express Loan, offering financing solutions suitable for their industry.

Can cleaning services get invoice financing loans?

Cleaning services might not typically meet the criteria for invoice financing, as they often have a high frequency of smaller transactions. However, if they offer commercial cleaning services and issue invoices for larger contracts, they could potentially qualify for invoice financing.

Can cleaning service businesses get loans from banks?

Banks usually demand that cleaning service companies have a minimum of two years in operation, a FICO credit score of 680 or higher, three years of cash flow records, and a clear business plan detailing fund usage. Meeting these criteria raises the chances of bank approval. If you can’t meet these standards, consider exploring alternative lenders like MCashAdvance, which may offer more favorable eligibility criteria for obtaining financial support for your cleaning service business.

How does cleaning service equipment financing work?

Cleaning service businesses can buy equipment such as commercial vacuums and use the commercial vacuums as collateral to secure financing. At MCashAdvance, you can acquire commercial vacuums using our advances without having to use the equipment as collateral.

Can cleaning service businesses get business lines of credit?

Certainly, cleaning service businesses can obtain a business line of credit from most lenders if they meet certain qualifications related to the cleaning service industry. These typically include maintaining a FICO credit score of 660 or higher, having at least one year of experience in the cleaning service business, and consistently generating monthly revenue exceeding $5,000 as a cleaning service provider.

About the Author: