Cash Advance FAQ's Give You Knowledge And Power

Merchant Cash Advance FAQ’s

Q. Can you describe the program in a few sentences?

A. We get cash in your account quickly by advancing money on your future credit card business. Money is electronically deposited into your business checking account and you pay it back through a flexible payment schedule. We can have money in your hands within 7 days after you have been approved.

Q. What are the qualifications for me to get a cash advance?

A. If you have been in business for a full 6 months and accepting credit cards during that time, you will probably qualify. You must; however, do at least $2,500 a month in credit card processing to get any cash at all. The more business you do, the more cash you can ask for.

Q. How about the Fees?

A. Although our Operations Dept will give you the final quote, you can expect to pay the advance back over 6-8 months from your daily credit card receipts. It is usual to pay back 20% of the daily MasterCard and Visa transactions. American Express, Cash and checks are not touched nor used for repayment.

Q. Do you play hardball if I can’t pay the funds back on time?

A. We hope that you will pay back the entire advance in 6 months. However, some businesses need longer. Some businesses may need more money for growth. All of that is OK.

Q. Can you place a lien on my Personal Assets?

A. No. Remember, we are not even asking you for a personal guaranty. We think that your business should pay for the advance of funds. Don’t you?

Q. Will I get my money quickly?

A. Yes, it takes 7 business days to receive your funds as long as the required documents are complete and the requested information is turned in. That information may include bank statements, landlord data, proof that you own the business, lease etc. We need this information because this is an unsecured advance. Fast response equals fast funds!

Q. Can I use the Money any way I wish?

A. Yes. Most merchants use the funds to increase their business by remodeling, increasing inventory, marketing their business etc. You could use it to go to Disney Land if you wish.

Q. What if I need Credit Card Processing for my business?

A. Click on this link to merchant application Then, fill it out and I’ll make sure you get the proper documentation to get accepted. After 6 months you will qualify for this program.

Q. What if I decide to pay the advance off in three months instead of six months? Any Penalties?

A. No penalties for paying the cash advance off early. You may also negotiate a reduction of the fees for paying the advance off early.

Q. What is the Finance Charge?

A. There really is no finance charge. There are no fixed payments. We simply get paid when your customer pays you with a credit card. We advance you against your estimated future credit card sales first. Then we take a percentage of your monthly MasterCard and Visa sales as payment previously agreed upon. This continues until you have settled your account.

Q. What do I do first?

A. Call Larry Cohn at 510 504 5419 or you can just fill out the cash advance application by clicking on this link. Cash Advance Application Go Back to Need Cash For Your Biz?