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Merchant cash advances (PDF)

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					                                                 MERCHANT CASH ADVANCE PROGRAM

                                                Cash Advances vs Bank Loans
         (888) 881-0657 Toll Free




           CASH ADVANCE                                  vs                           BANK LOANS
No fixed time period                                          Fixed time schedule
  Payback is based on a percentage of the business’           i.e, 3 year loan, 5 year loan, 7 year loan, etc.
  future credit card sales


No interest rate
                                                              Interest rate
  There is a discounted rate, typically $0.74 on $1.00



No fixed monthly payment                                      Fixed monthly payment



High approval rates for qualified applicants                  Very low approval rates


Businesses must process credit cards for a                    Typically want to see 2 to 3 years of operating
minimum of 60 days                                            history


Quick decisions
                                                              Decision process can take weeks
  Conditional approvals as fast as 24 hours


Fast funding
  Receive funding in 7 business days or less if               Funding time can be several weeks or up to
  merchant sends required documents in a timely               one month
  manner


No extensive paperwork                                        Often requires tax records, lists of collatoral and
                                                              business plans



No true personal guarantee                                    Collateral and personal guarantee required



Requires credit scores of 500 or above                        Often requires credit scores of 650+


                                                                     Note: This is a purchase of future credit card receivables and not a loan product.

				
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posted:1/12/2011
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Description: get the cash your business needs if you accept credit card you may be eligible for a business cash advance