Frequently Asked Questions
Why Go with a Brokerage house?
90% of the cash advance deals done in this industry are done by brokers. Brokers are the lifeline and pipeline for all the cash advance lenders. Most banks don’t have a sales staff for cash advance, therefore ISO brokerage houses are the middle man between the merchant and the lender. Most lenders know that merchants are found by sales reps and this has been the way the industry has been for 10 years. Also brokers speed up the time the process takes from 10-14 days to 5-7 days.
What is a Merchant Cash Advance?
A Merchant Cash Advance is a funding product for small and medium-sized businesses that process credit card sales. A Merchant Cash Advance allows business owners to have quick access to working capital that can be used for any business need.
What’s the catch?
As a business owner, you make business decisions every day. There is no “catch” just a question: Will the cost of capital allow you to grow and expand your business, or help you deal with a short term emergency effectively? Since this is not a loan, but instead a very innovative type of financing, the simple, flexible and attractive terms can seem too good to be true, especially if you’ve just gone through the painful task of trying to get money through other sources.
How much working business capital can I get?
We have developed the 3 minute application that can be taken over the phone or faxed in, and the free consultation line with Funding Director, David Ross at (888) 564-5551. This takes 5 minutes of your time. It will consider several factors including your Visa / MasterCard sales. You will know how much working capital you can get within 24-48 hours. The totals range from $30,000 to nearly $300,000 in timely, simple to get working capital!
Is this legitimate?
Absolutely – and it’s backed by two of the most admired financial institutions in the world. However, with all of the things you hear about on the internet, we’re glad this is on the minds of our customers. Over the past 7 years, more than 15,000 business owners have received over $600 million of working capital to invest in their business as they see fit, without collateral or personal guarantees.
Can I use the funds for any small business expenditure?
There are no restrictions placed on the use of funds, though of course the business takes responsibility for the legality of said use. You can use it to finance marketing programs, used equipment purchases, auction participation, and other such activities.
Will I get reports / documentation / evidence / reconciliation?
Yes. You’ll have access to your account online and can easily track and reconcile your account at any time.
Does the business owner need personal collateral for a Merchant Cash Advance?
No. There is no personal collateral required for a business to receive a Merchant Cash Advance.