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Merchant Cash Advance | Quick capital to grow your business

Posted by Alex Neir on Tue, March 13, 2012 @ 02:23 PM
Merchant Cash Advance Loan

A merchant cash advance is an easy, quick and cost effective way to get working capital for your business without the headache of a traditional loan. Qualification for a merchant cash advance is far less strenuous than traditional lending instruments. Cash is available in as little as 4 business days and is deposited directly into your business account.

How does it work?

A merchant cash advance allows your business to receive a lump sum payment based on your future credit card payments. You decide how much money you would like advanced. That money is then deposited into your account for use as you see fit. The cash advance is automatically paid back over a predetermined number of months. Over those months a specific percentage of each sale is used to pay for the advance. You have absolutely nothing to worry about as the advance is paid back automatically.

What are the qualification requirements?

Qualification for a merchant cash advance is easy and includes:

  • A least a 500 credit score
  • You are currently processing greater than $5,000 a month
  • Your business primarily swipes credit cards and your average ticket is less than $600
  • You perform at least 15 batches per month
  • Your business has been operational for more than one year

If you would like additional information on a merchant cash advance, please provide us with your contact information and a representative will be in touch to discuss the program in detail.

Merchant Cash Advance Get Started

Tags: Merchant Cash Advance, Cash Advance, Merchant Account Education

Merchant Cash Advance | An easy way to get capital for your business

Posted by Alex Neir on Tue, December 06, 2011 @ 02:12 PM
Merchant Cash Advance

With the current climate in the lending industry it has become exceedingly difficult for small to medium sized businesses to qualify for a business loan. That being the case what other lending options are available to businesses to raise the cash necessary for business growth?

A merchant cash advance could be the answer.

A merchant cash advance is a lending instrument that allows your business to take advantage of future credit card receivables for an instant infusion of cash. The qualification process is quick and easy and your business can usually receive an advance in as little as 3 days.

How does it work?

Our underwriting department will analyze your merchant account statements to determine the cash advance amount you qualify for. The maximum cash advance amount available is $250,000. Once an advance amount has been identified that amount will be wired into your business account.  At that point a pre-determined percentage amount will be held back from each subsequent settlement for a pre-determined amount of time. The percentage amount held will be applied to the repayment of the advance. A percentage of future credit cards receivables is used to ensure that a hardship is not imposed on the business as would be the case with a set dollar amount. The advance is automatically paid back so there is no action needed by the business owner or staff.

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Qualification requirements

  • 500 Fico
  • $5000 per month minimum processing
  • Average retail ticket less than $600
  • 15 batches per month
  • Bankruptcies discharged for at least 1 year

Tags: Merchant Cash Advance, Credit Card Factoring, Cash Advance

4 actions to avoid with your merchant account

Posted by Alex Neir on Fri, November 05, 2010 @ 03:31 PM
Actions to avoid with your mercahnt account
This post is to offer friendly advice as to the actions that should always be avoided when operating a merchant account for your business. The most important things to avoid are those actions that will result in your account being shut down and secondly those actions that cost your business money.

Actions to avoid:

  1. Never run a transaction on your own credit card
  2. Never refund a customer’s transaction to a credit card that differs from the original credit card used for the purchase
  3. Never refund cash to a customer that used a credit card for the original purchase
  4. Never forget to batch out your credit card terminal, virtual terminal or point of sale system

Processing a transaction on the merchant account owner’s credit card:

This action is considered fraud and will result in your account being shut down and your business black listed for credit card processing. You should never process a transaction with the owner of the merchant account’s credit card, not even for a small amount. Owners may think this is a good way to pull money out of the business but that is incorrect. This action is strictly monitored and the consequences are severe. If you are interested in taking cash out of the business look for a merchant cash advance instead.

Refunding the purchase amount to different credit card:

This action is also considered fraud and will result in the merchant account being shut down. Pay special attention that you are refunding to the exact credit card that was used originally. If the original credit card is not available issue an in-store credit.

Refunding cash on a credit card purchase:

It may seem logical that a refund is a refund, who cares if the refunded amount is returned as a credit to the original credit card or as cash? Well, if you issue a cash refund for a credit card purchase you are enabling the customer the ability to receive two refunds for the purchase amount. The first refund is the cash they receive when the item is returned. The second refund can come in the form of a charge back initiated through the credit card company. Since the cash return does not match the original purchase on the credit card you will have little luck winning the charge back suit.

Always batch out your terminal at the end of the day:

If you wait, even a day, to batch out your transaction you will experience a downgrade on all the day’s transactions. You will also delay the deposit of those funds into your bank account. Monitor your bank account closely to ensure your credit card receivables are batch and deposited daily.

Tags: Merchant Account, Merchant Cash Advance

Business capital without a loan? A cash advance may be the answer!

Posted by Alex Neir on Tue, September 21, 2010 @ 02:42 PM
merchant credit card acash advance

The lending community has tightened up considerably in the last few years making it extremely difficult to access additional business capital unless your business has large cash reserves.  Wouldn’t it be nice if you could leverage your sales to secure an advance of cash instead of relying on traditional lending guidelines and requirements?

A merchant credit card cash advance provides working capital for your business secured by a portion of your future credit card receipts. The guidelines for a merchant credit card cash advance approval differ from a traditional loan as a merchant credit card cash advance is approved based on the history of receipts not on credit and collateral. These facts make it much easier for a small to medium sized business to attain the capitol necessary to grow the business.

Traditional underwriting requirements for a merchant credit card cash advance are as follows:

  • 500 FICO score or better
  • $5000/ month minimum processing
  • Average retail ticket less then $600
  • 15 batches / month
  • Bankruptcies discharged for at least 1 year
  • In business for at lease one year

Additional benefits include:

  • Advance is invisible: Advance does not show through the credit reporting agencies as a loan or line of credit
  • Large advance amounts: Up to $250,000
  • Repayment is automatic: A fixed percent of each future sale is directly debited
  • You don’t pay unless you get paid!

 Interested in getting pre-approved for a merchant credit card cash advance? Our underwriting is fast and easy!

Tags: Merchant Cash Advance, Merchant Credit Card Cash Advance, Cash Advance