Credit card receivables financing is a form of accounts receivable factoring, utilizing a merchant’s cash flow from credit card sales or banking accounts cash flows.
Business gets the cash in advance, and a system is set up to repay the cash advance through withholding from credit card transactions – refunding a portion of the cash advance every time a customer makes a purchase.
Does your business qualify for credit card receivables financing?
- Do your customers use credit cards to pay for their purchases?
- Have you been in business for at least six months?
- Can you provide current merchant processing statements from the past six months?
- No open tax liens, judgments or bankruptcies?
- Good standing with the landlord with at least one year remaining on the lease?
In summary, credit card receivables financing is an innovative system of funding, designed especially for the small retailer or service company. If the business owner does not qualify for a line of credit with the bank or has maxed out their existing line of credit with the bank this program works for nearly any business.
Instead of requiring collateral, assets or high credit scores, Credit Card sales determine the amount we advance. No specific requirement of collateral or assets.
Renewal is easy. Once you are a customer, getting more money or renewing your advance is even simpler.
There is never a pre-payment penalty.
You can use your cash for anything. From adding a new location or inventory to making payroll or paying taxes, to buying advertising or direct mail, the cash advance is yours to use in any way you choose to grow your business.
You pay as you grow. The merchant cash advances are paid for with a percentage of the credit card transactions only. If your credit card volume is down, then the amount collected less and vice versa when the volume is up.
- No fixed payments – flexible programs
- No fixed time frames for repayment
- Completely automated process
- We receive payment only when you receive a payment
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