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What
is a cash advance? |
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A Cash Advance provides small business owners with the
ability to raise needed capital. We advance Cash by
purchasing a pre-determined amount of the business's sales
volume sold through your credit cards merchant account.
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BACK
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How
long will I have to wait to find out if I
have been approved for a cash advance? |
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Pre-approval is usually obtained within the time required
documents are sent to underwriting. Funding usually takes
1-3 weeks.
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How much can my I qualify for? |
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Their average business volume will qualify them for $3,000
to $125,000.
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How do you determine the size of the cash
advance I can qualify for? |
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The amount of receipts purchased is determined by their
average credit card volume over a 90-120 day period. We ask
that you provide any documentation, (bank statements, sales
tax receipts) that supports total sales volume in order to
be approved for the highest amount possible. We will give
you the largest amount based upon the documentation provided
and you can decide how much they would like to accept. If
you have chosen not to take the entire approved amount on
the first funding, they may contact us anytime to request
the unused portion.
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How
do I repay my cash advance? |
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We collect a small percentage of each credit card
transaction through our processing bank. There is a minimum
payback term of 90 days, but you can take up to
approximately 6 months if you need the time. |
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Will I receive the same low rates as my
existing credit card processor? |
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Yes, we will match or beat current processing rates.
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Do
I qualify? |
- Restaurant or 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 of at least $4,000 per
month in credit card sales $2,500 franchises
- 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)
- Has no open tax liens, judgments or
bankruptcies
- Is in good standing with landlord with at
least one year remaining on their leases
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Customer Benefits: |
- 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
- Available funding for opportunistic buys
- Tax deductible
- Improves cash flow
- Builds 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
requests
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