Funding Solutions

A solution that actually works with your business.

FACT78% of all businesses fail due to a lack of a well-developed business plan.
Although that may not be applicable to your already successful business, here’s another one to consider. Even though a company may have drawn up a blueprint for profitability, over 8 in 10 businesses will nonetheless fail within their first 2 years due to inadequate funding (or being under capitalized) and poor financial management. This happens time and again, whether that blueprint is being followed “To a T” or not.

The Alternative Financing Solution

According to a 2014 Huffington Post article, 42% of submitted small business loan applications are declined. So where do established business owners go when they just can’t wait 3 months for a bank approval, or have less than perfect credit scores.

There are various short-term funding vehicles available to small businesses when a traditional bank loan is not an option. Approvals are based on the overall financial health of the business. Alternatives, such as a Merchant Cash Advance (MCA) are typically less expensive than standard “bad credit” business loans. Also known as a Business Cash Advance, this funding option may be exactly the product to help propel your business to its next growth stage.

How Merchant Cash Advances Work

A MCA is a type of alternative financing that allows a business to convert future revenues for immediate working capital needs. These needs include expansion, purchasing inventory, hiring employees, paying bills, marketing/advertising, supporting payroll, upgrading equipment, or for any other business purpose. The Merchant or Business sells its future credit & debit card sales yet to be made, in exchange for advanced cash now. The “Funder” is the financial institution who purchases a stake of the businesses future revenues at a discount. A discount (from The Funders perspective) is the fee charge in exchange for the funds advanced to you. In other words, the discount is simply your cost for the amount advanced.

The Merchant pays back the advance to The Funder from new card sales over the next several months as agreed upon in “The Terms”, as a fixed percentage (typically 8%-12%) of each card transaction processed. This percentage, also referred to as the Hold Back or Retrieval Rate, is how your Funder is paid back little by little for the amount advanced.

Benefits of Our Business Funding

  • Fast Approvals within 12 hours.
  • Funding in as little as 72 hours.
  • No set timeframe to pay it back.
  • Payments are a fixed percentage of sales. When sales are slow, payments are minimal and are automatically applied until it’s paid off.
  • Flexible payments that rise & fall with revenues.
  • Good funding solution for those with no credit history or less than perfect credit.

Who Qualifies for Our Business Funding

  • Any business (brick-and-mortar, in field, online-based, etc.) that accepts credit cards and/or debit cards as payment for goods & services via a POS System or mobile device.
  • An established business that’s been in operation for a minimum of 6 months with at least $10,000 of actual consistent monthly sales.

Our Business Funding Requirements

Before applying, it is important to understand our funding requirements. We have these prerequisites in place so that businesses can responsibly and effectively utilize our products.

We require that your business be up-and-running for at least 6 months prior to receiving funding. This rule stands because we like to see that your business model has already been operational for some time, and hence more likely to succeed.

Another requirement we have is that your business make $10,000 in sales each month. If a business generates less than this, history has shown us that it may be challenging to complete the payback of an advance. We do not want to put the future of your business at risk, as this affects the families and employees of your community who may depend on it.

In addition, any business we fund cannot have any open bankruptcies or dismissed bankruptcies within the past year.

If you have any questions about our requirements, or simply need a no-obligation apples-to-apples comparison of an existing offer, feel free to reach out to one of our Funding Specialists. At the very least we will be able to point you in the right direction!

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