Merchant Credit Advance
Can I apply again when I have repaid my first revenue advancement?
Yes, most renewals are funded in less than 24 hours! If you have experienced no change in financial status you will be approved automatically. As soon as the advance balance is down to approximately 20% of the original balance, you can apply again. More than half of our customers opt to do just that. You can renew by phone, fax, or e-mail.There are many payoff options available in the cash advance program depending upon the amount of money you receiveWe purchase your future receivables. Advance Co Financial’s transactions are based on a previously agreed percentage of your future sales. A formula is calculated based on your cash flow projections.
How soon can I get the money?
Once your business is approved following the submission of your initial application submission your funds arrive in approximately 5-10 working days.Healthy, sustainable communities need businesses that provide quality, living wage jobs with benefits. Access to capital drives small business development and economic growth, and the Initiative Foundation provides gap financing which supplements owner equity to help businesses start up and grow.
How does the program work?
We purchase your future receivables. Advance Co Financial’s transactions are based on a previously agreed percentage of your future sales. A formula is calculated based on your cash flow projections. Essentially we provide whats called a Revenue Advancement. You can actually monitor and manage your account on our affiliates Web site as often as you would like.Global Cash Direct will determine an amount you can receive based upon an average of your monthly Visa/MasterCard sales. Generally we fund between $1,000 and $500,000.You can usually qualify up to 120% of your average monthly credit card sale.
What is Asset Based Lending?
Asset based lending is a secured business loan in which the borrower pledges as collateral any assets used in the conduct of his/her business. In industrial terms, its also referred to as commercial finance or asset-based finance.Once your business is approved following the submission of your initial application submission your funds arrive in approximately 5-10 working days.No, there are no administration fees nor any application fees.
Is there a fee for providing a revenue advancement?
No, there are no administration fees nor any application fees. We partner with you to determine your optimal payment. The sooner your application is complete and approved, the quicker we advance you the cash.No, there are no administration fees nor any application fees. We partner with you to determine your optimal payment. The sooner your application is complete and approved, the quicker we advance you the cash.Our goal is to provide a unique financing program that assists small businesses with the extra cash flow and working capital necessary to succeed. At the same time we strive and aim to avoid putting our clients through the same rigorous scrutiny and hassles of the normal banking system.
How does my business qualify?
You must have been in business for 1 year, and have at least $1,500 a month in Visa/MasterCard sales. For most small businesses, the business owners credit is important to evaluating the company for an advance. However, we have a business-friendly scoring model that takes into account many variables, not just your personal credit score. Our inquiry will not affect your credit report and we do not require personal guarantees!Yes, you will be mailed a monthly statement. In addition your daily statements can be viewed online at anytime. You simply log into a private and secure area of our affiliate website.Global Cash Direct will determine an amount you can receive based upon an average of your monthly Visa/MasterCard sales.
Filed under: Small Business