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How does the process work?
It’s simple
and quick. Just complete the application and submit 4 months master card and
visa credit card statements – this will determine the amount that your
business will qualify for. A representative will contact you within 48 hours
to process your agreement
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Does
it matter what kind of business I have? Can I only apply if I am in the
food & beverage or entertainment industry?
We can
fund practically every business, and will work with you to determine the
option that best suits your business and financial needs
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What
is the interest rate?
This is
not a loan so the only thing set in stone is the percentage rate retrieved
from your credit card sales. When sales are down less is taken and when
sales are up the amount will be more.
The percentage will never be
more than 8% of your gross sales in order not to hurt your cash flow.
For
example if your percentage rate is set at 8% and you take $1000.00 in
credit card sales, we will retrieve back $80.00
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Are
there any application or processing fees?
NO
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What do I
need to qualify for a cash advance?
The
only requirement is that you accept Visa and MasterCard as a form of
payment. Your eligibility will be determined by
the amount you process via credit card on a monthly basis
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Do
I have to change my credit card processor?
No you don't need to change your processing
company, however we work with a broad selection of credit card processors
offering the lowest fees and best rates available. By going through one of
our preferred processors you could save thousands of dollars. We will work
with you to determine what is best for your business
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How
much can I apply for?
We can
obtain funding anywhere from $5,000 to $500,000
plus. We will do an assessment on your business to determine your needs
and your comfort level.
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How
do you retrieve the monies back?
A set
percentage of your MasterCard and Visa sales are retrieved directly from
your account each month. Since it is a percentage and not a fixed amount
the payment will fluctuate with your business. This is especially
beneficial for seasonal clients,
or companies whose business fluctuates throughout the year
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Do
I have to sign a personal guarantee or put up any collateral?
No
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What
if my credit score is less than perfect?
Credit
score is not the only determining factor, often times after working with
our program will actually improve your credit because
it will give you the opportunity to pay off outstanding bills, old debt,
and grow and expand your business.
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Am
I required to bill a minimum amount via credit card per month?
No
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What can I use the money for?
You can
use the funds for anything, marketing, expansion, cash flow, upgrades,
debt resolution, or to create a savings account for a 'rainy day'
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How
long does it take to receive the funds?
The
entire process usually takes about 1 week from application to seeing the
funds deposited into your account
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Do
I get a discount for paying back the advanced cash early?
There are no prepayment discounts or
penalties. If you are looking for a short term loan there might be other
options available to you. We will work with you to determine which option
best fits your specific needs |
FREQUENTLY ASKED QUESTIONS
