What is a Business Cash Advance?
- This is not a loan but an agreement where a business sells a fixed amount of future business sales for upfront capital.
What is the difference between a Business Cash Advance and a traditional loan?
- It’s Easier, Faster, and Smarter
- No Fixed Monthly payments
- No Collateral or Personal Guarantees
- No upfront fees
- Credit is not a factor
- Less paperwork to submit
- Get funded within a few business days
What is the interest rate?
- There is no interest rate on our product. It’s an advance, not a loan. We charge a onetime flat fee. It is a flat cost of money.
How much is the fee?
- We understand that every business is unique. We determine our risk and therefore fee based on the health, performance, and reputation of the business. That is why we require the most recent business checking account statements.
How are my payments determined?
- There are no fixed monthly payments. We simply receive an agreed upon percentage of Sales OR Flat fee from your checking account until the advance has been paid.
What are the payment terms?
- The length of time you have to pay back your advance is anywhere from 3 to 12 months.
How much can I qualify for?
- We determine the amount we can offer you based off of your monthly statements. We look at things like a consistent amount of sales being deposited, your average daily balance, as well as if/the amount of NSF’s
Do you look at my personal credit?
- For most small business the owner’s credit history helps in the evaluation process however we are more interested in your businesses performance.
I have partners in my business but I hold 51% do you need my partners information?
- No – If you have 51% or more ownership in your business we only need your personal information in order to move forward with funding.
Is the cost of money tax deductible?
- Yes – Businesses can write off the cost of the money *consult your tax professional