You have a business that accepts Visa and MasterCard as a form of payment.
You process a minimum of $1,500 a month. You can provide recent credit card statements (3 months if business is not seasonal and 12 months if business is seasonal).
You have been in business for at least 1 year.
How does the program work
You can be advanced $1,500-$250,000 (up to $500,000 subject approval) based on your current credit card receipts. A small agreed upon percentage is then deducted from your future Visa/MasterCard receipts for payback. There are no fixed payments and there is no fixed term time frame.
Is there a fee for receiving a cash advance
No, there are no administration fees.
How fast can I get a cash advance
As fast as 72 hours! However if relevant documents are missing or are difficult to obtain, the process can take as long as two weeks or more.
How will I pay back the cash advance
On a formula calculated based on your cash flow projections. We partner with you to determine your optimal payment.
When I have repaid my first cash
advance, how easy is it to apply again
If you have experienced no change in financial status you will be approved automatically.
Is it going to cost me to apply
No - the application is free and there are no up-front fees charged to our customers. The sooner you get your application in, the quicker we can get back to you on the amount of monies we will be able to advance you.
Do I have to switch my
current credit card processor
Yes. You must switch to our affiliated processors to receive funding.
Our affiliated credit card processing companies will meet or beat your current credit card processing cost structure. The bottom line is that you're not going to lose money for having to switch. Most likely, you will be saving money by switching.
How easy is it to get approved
It is a lot easier and faster than a typical bank loan. We understand the reality and the hardship of owning and operating a small to medium sized business. The majority of our Executive Funding Specialists have also owned and operated their own small to medium sized business and understand how quickly you need capital, so our efforts to get you business funding is a top priority.
How much will a cash advance cost
Pricing is based on the size of your cash advance, the estimated time of distribution, and various other integral details of the cash advance program. This is explained fully in the sheet.
Will bad credit affect my cash advance request
It is not necessary for you to have good credit to receive a cash advance. A poor credit rating, including delinquencies, will not normally influence a cash advance.
How much of a cash advance can I receive
You could receive $1,500 to $250,000 (up to $500,000 subject approval).
No. This is not a loan. It is a purchase of your future credit card receivables.
I am already with another financing company
providing similar financing. Does that mean
I will get approved
Our credit underwriting standard is slightly higher than that of similar companies; however, approximately 95% of our competitors' customers who applied for our cash advance have been accepted. The only sure way to find out is by submitting an application.
Can the advance be renewed
No. This is not a loan. It is a purchase of your future credit card receivables.
Do I have to get a new credit card terminal
Not usually. All you have to do is re-program your terminal, which takes only 10 minutes and it can be done over the phone. Our credit card processor will call you to give step-by-step instructions.