An Overview of Cash Advance
We are brokers for cash advance companies nationally We arrange to buy a percentage of the merchant’s future Visa, MasterCard, AmEx & Discover receipts The average advance is $20,000 and the average repayment term is six to seven months. Payback is deducted from daily receipts automatically No business or personal collateral
No fixed repayment schedule
No origination fees
The Numbers
Example: The average monthly credit card receipts = $10,000
$10,000 + 25% = $12,500 as an advance
20-25% of the daily credit card receipts is deducted until the advance is collected
Reasons For A Cash Advance
Expansion Equipment purchase Inventory purchase Down payment Acquisition Buyout Cash flow shortfall
Advantages
Merchants can receive up to $3 Million
No reporting to credit bureaus Payback based on timing of credit card receipts Automatic payback No fees or penalty for extended payback period A/B credit not required Financials/tax returns not required for funds up to $1 Million
Merchant Requirements
Eighteen (18) months in business (a maximum of $25,000 is available to merchants in business under 18 months) Minimum $5,000 per month in credit card receipts
Document Requirements
(Up to $1 Million & in business over 18 months) Four months of credit card processing statements Voided check (Over $1 Million or in business under 18 months) Extensive documentation
Getting Started
If you are ready to get started, please click on the link below to open a PDF worksheet Worksheet
Contact
For information on how to get started, please contact:
Francisco J. Acosta Internal Business Consulting Executive Vice President 212-330-0311 fja.email@ibcglobal.net
