Frequently Asked Questions
How does the program work?
After a simple application process, you will get an advance on your business's future sales. Repayments are flexible, payments are only made when you make a credit card sale. The repayment of this advance is a % of your daily credit card deposits. There are no personal guarantees or complicated documents.
How does my business qualify?
You must have been in business for 1 year, and have at least $2,500 a month in Visa, MasterCard, American Express or Discover sales. Many newly purchased businesses that have been in business for over a year will also qualify.
Does anyone look at my personal credit?
For most small businesses, the business owner's credit is important in evaluating the company for an advance. However, the underwriting / scoring model used takes into account all factors, not just a personal credit score. Don't worry about your score, we understand that you need capital. We hope that the Advance you request will help in your success. What is most important is that the business is making sales. In fact we do not require a personal guarantee. Your business is evaluated on its own merits.
How large of an advance can my business get?
The amount you can receive is based upon an average of your monthly Visa/MasterCard/American Express/ Discover sales. Unlike our competitors we also look at your American Express and Discover volume. Most Advances fund between $2,500 and $150,000 per location. If you need more, please ask.
How soon can I get the advance?
Once approved, you'll have funds in your bank account in as little as 7 business days. The approval process is very fast: you'll have your money usually no later than the next business day after we receive all the documents!
What is the rate I will be charged?
The money you get is not a loan; it is an advance against your estimated future monthly Visa/MasterCard/American Express/Discover sales. You're selling a portion of your future sales today. Therefore, there is no rate. You simply pay a fixed fee that is paid back over time. The average advance is paid back in six months, however if you take longer there is no penalty.
What can I use the money for?
That's up to you. Many of our clients use advances for such things as payroll, equipment purchases, expansion, advertising, additional inventory purchases, to meet payroll and tax obligations, repairs, and emergency expenses. The decision on how to use the money is yours.
Does my business have to switch credit card processors?
When we look at your processing statements we often suggest a change to make sure you have the best rate. When your costs of processing go down, your profits will go up. This always helps in approving an advance or increasing the amount. If you do need or decide to make a change in processor, we will handle that for you; often, it only takes a few minutes, and you can still use the processing terminals you already have. Our processors guarantee to meet or beat your current processor's rates!
How are my payments determined?
One of the best thing is there are no fixed payments! Simply, an agreed upon percentage of your future Visa and MasterCard/American Express/Discover sales are split off until your advance has been paid back.
So if your business is a little slow one month, the amount you pay will go down. Try asking a bank to offer you that flexibility!
How do I keep track of what I paid?
You will be sent a monthly statement detailing how much you have paid for the previous month and the outstanding balance on the advance. You will have access to on line reporting. You are always welcome to call.
How do I get started?
Simply click below to complete a simple online application or call us. You're about a week away from funds. It takes money to make money, so get started now!