How much is the interest? Our cash advances carry no interest rate. We provide you with a cash advance based on your past credit card receivables. We will calculate how much we can advance you, the amount of your total payback, and the percentage that we will take from your credit card sales towards your loan. Once we provide you with this information, you can make the decision to move forward with your funding.
How does the payback work? You will never receive a bill from us. Your payback is accomplished as we take a small percentage from your daily credit card sales until your loan is repaid. There are no fixed monthly payments. When your credit card sales are low, your repayment is low. This way, you can continue business as usual without feeling the financial burn during periods of slow business.
How much will my payback be? We can not provide you with any realistic numbers until we analyze your last four months of merchant statements, as every business is unique. Once we have your statements, it will take us less than one hour to provide you with actual numbers.
What are the differences between a bank loan and a business cash advance? If you are part of the minority that qualifies for a bank loan, you will be held personally responsible for that loan, putting your personal possessions at risk if you falter on your payments. With a business cash advance, if your sales lessen, your payments lessen accordingly, posing no threat to your personal property.
How do I get the money? Your cash advance will be directly wired to the bank account of your choice.
Will I have to change processors? In most cases yes, but not all. If yes, you will be upgraded to one of the best processors in the country.
How long does the whole process take? Once we receive your application along with the last four months of your credit card statements, it will only take a few days for you to receive your funds.
What paper work do I need to provide? All we need is a one page application, the last four months of your merchant account statements, a copy of your driver's license and a voided check from the account you want the money wired to.
I am paying a very low rate for processing; will my rates stay the same? We will make sure that your rates stay the same, and we will even lower your rates whenever possible.
Can I pay the loan back early? Yes. At any time you may pay off the remainder of your cash advance.
