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Here are some commonly asked questions: |
What are the Terms and details of getting cash for my business?
How do I qualify?
What does it cost?
How fast can I get money?
How do I get started?
What will be my Clients' reaction when I sell my accounts receivable?
Can you give me an example of how it works?
How long does it take to repay the advance? |
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What are the Terms and details of getting cash for my business? |
- No application fees
- No closing costs
No equity loss just cash when you need it the most
- Tax returns are not required except on a case by case basis
- Financial statements are not required except on a case by case basis
- No fixed payments, no fixed repayment schedule- we get paid only when you get paid
- Approval as fast as 24 hours
- Pre-approval in as fast as 48 hrs
- Cash funding within 7 days
- Approval for all credit types good and bad
- 90% approval rate for funding approval
- 98% approval rate for merchant card services
- Businesses must accept credit cards
- Business must process minimum $5000 a month
- Business must provide 6 months of past credit card statements and bank statements
- Must have been in business for at least 1 year
- Must have no open tax liens, judgments or bankruptcies
- Business is in good standing with landlord with at least one year remaining on your lease |
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How do I qualify? |
If you are processing over $5,000.00 average per month in credit card transactions, and have been processing credit cards for at least a year, you already meet our minimum requirements for funding. Next step is to fill out the online application and then wait for underwriting to let you know what else if anything is required for final approval. |
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What does it cost? |
The application process is free. Once funding occurs and when payback begins, the funding fee is added to the original principal and then gradually withdrawn on a percentage basis every time a batch total is performed. The funding fee will vary based upon the level of risk that is being assessed. However we do have a 90%+ approval rate! |
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How fast can I get money? |
Pre-approval can occur within 48 hours of receiving the initial application, and if approved funds in most cases are advanced within 7 business days, sometimes sooner. |
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How do I get started? |
Everybody's first step should be to fill out the online application. If there is an extreme emergency feel free to call our 800# and talk to one of our funding specialists. |
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What will be my Clients' reaction when I sell my accounts receivable? |
Since this is not receivable financing the clients won't even know or care that this transaction has taken place. |
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Can you give me an example of how it works? |
Once approved, your merchant account(s) are transferred over to our processing system. As soon as the first batch is verified and correctly deposited through the new system the approved funding is automatically deposited into your account. It's that simple. |
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How long does it take to repay the advance? |
Repayment is variable depending upon how much and how frequently batching out takes place. We withdraw a small percentage from the batch total as our payment. If you don't get paid we don't get paid. If you get paid slowly we get paid slowly. There are no prepayment penalties. Typically we try to estimate a repayment program with all of our clients to fall within 6 to 12 months. But obviously this needs to remain flexible. |
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