Credit Card Receivables Financing

A new option for quick cash

Do you work with a merchant services company to provide your customers with the ability to use their Visa, Mastercard, or other branded credit/debit card? Did you know that this could be a viable option when times get lean? The option is there for you and the terms are pretty straightforward. This form of financing works well with restaurants, fast food stores, or mom and pop bakeries.

Speed is the name of the game with this route. If you need money and you need it yesterday, this option will work well for you. You can expect funds within a week or two. The process starts with an easy application. You are then given a preapproval within a few days, assuming all of the information provided is true and correct. You can typically expect anywhere from 70-150% of your average monthly credit volume, limited to about $150,000.00 per location. They base the average on the past 4-6 month card sales.

Payments are even easier than the process. Through this process you actually sell a fixed amount of your future credit card sales. A fixed percentage of your daily credit card receipts is automatically retrieved through the card processor until the obligation is paid. Unlike traditional loans, there is no fixed payment amounts and no lump sums due every month. Instead it is a small percentage taken out everyday improving your overall cash flow and this gives you more time to run your business.

Interest rates are the best part. There is none! Also, there is no set term. No personal collateral is required to make the loan. You don't have to risk everything to your capital needs. In addition, since you pay a small percentage from your daily sales, there is no risk of late fees or prepayment penalties.

Contact me today if you are interested in learning more about this type of financing solution. Check the side panel for contact info.