A Cash Advance NOW !
Money When You Really Need It !
Many companies find themselves in need of a sudden unexpected source for funds that are outside their normal resources for quick capital. Perhaps the money is needed to cover a company emergency such as an equipment break down or perhaps payment for cash to buy a new piece of equipment at an auction for way under value.
If company credit lines are fully committed, or there is not enough available credit on a company credit card, then the company may obtain a cash advance from their merchant account provider based upon the credit card volume the company transacts with its customers.
What is a MERCHANT CASH ADVANCE?
A Cash Advance will provide business owners the ability to raise needed capital when other financial sources are unavailable. We will advance you Cash by purchasing a predetermined amount of your future business's sales volume sold through your credit card merchant account.
How long will I have to wait to find out if my company has been approved for a cash advance?
Pre-approval is usually obtained within 24-48 hours. Funding usually takes 1-3 weeks depending on the amount of the transaction and the time it takes to get the necessary documents required to fund.
How much can my company qualify for?
Their average credit card volume will qualify them for $3,000 to $125,000, per store if you have more than 1 business location.
How do you determine the size of the cash advance my company can qualify for?
The amount of receipts purchased is determined by the average credit card volume over a 90-180 day period. You would be required to provide any documentation, (bank statements, sales tax receipts, merchant account statements) that supports the total sales volume in order to be approved for the highest amount possible. We will give your company the largest amount based upon the documentation provided and you can decide then how much you would like to accept. If you have chosen not to take the entire approved amount on the first funding, you may then contact us at anytime to request the unused portion.
How does my company repay the cash advance?
We collect a small percentage of each credit card transaction through our processing bank. There is a minimum payback term of 30-days but you can make monthly payments of up to 6 months if you need a longer term.
Will my company receive the same low rates as our existing credit card merchant processing account?
Yes, we will match your current processing rates.
What kind of company will qualify?
- A Restaurant, Retail, or Service Business.
- At least 1-year in business.
- Accepts credit cards as a form of payment.
- Provide processing statements for the previous 6-months with at least $4,000 per month in credit card sales.
- Provide 6-months of bank statements with consistent balances for higher approval amounts.
- Acceptable personal and business credit. (May have as low as 500 personal credit score.)
- Has no open tax liens, judgments, or bankruptcies.
- Is in good standing with landlord with at least one year remaining on their lease.
The Fee.
The fee can range from 1.25 to 1.45 based upon: your credit worthiness, length of time in business, length of lease, monthly credit card volume, average monthly sales volume and past business history.
What are the benefits for my Company:
- The program is simple!
- Funding can occur in as little as 10-days.
- Easy payback terms and conditions.
- Can include all fees in cost of goods sold.
- Available funding for opportunistic buys.
- Is Totally Tax Deductible !
- Improves your cash flow.
- Builds your business credit.
- Increases open to buy for retailers.
- No need to markdown inventory to raise cash for new inventory.
- May receive additional funding for other purposes upon request.
Money Now when you need it most !
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