Factoring Companies will provide alternate funding to a business by purchasing their future debit & credit card sales at a discount for immediate cash. * qualify for $7500 - $100,000 per location
* receive funding in as little as 5-7 business days.
This alternate funding program is NOT A LOAN. It is a cash advance based on your future debit & credit card sales, which provides a real solution to business owners who require extra working capital to grow their businesses efficiently, effectively, and seamlessly.
Terms are flexible. Renewals are straight forward and simple.
No bank hassles. No red tape. Easier approval process (90% +approval rate).This alternate funding program will not affect a merchant's ability to obtain working capital from traditional lenders because it is not based on a merchant’s credit, but on his/her future assets in the form of debit & credit card sales. This type of funding does not show up on credit reporting because it is not a loan. The factoring company is purchasing an asset from you - your future credit card sales at a discount.
Alternate Funding is not a "Lender-Borrower" relationship. It is a "Buyer-Seller" relationship.
Automated collection from a merchant's Debit/Credit Card Processing daily. The percentage the funding company retrieves does not change. As a result, if a merchant's sales volume declines, the funding company retrieve less, and if a merchant's sales volume increases, then the funding company retrieves more.
Therefore, this type of alternate funding works with a merchant's cash flow.
The money can be used for anything the business owner chooses. No business plan or nor previous tax records are required to be qualified for funding. NO RED TAPE.
What could you use the money for with up to $100,000 in funding for your business?
-additional working capital
-equipment purchases
-expanding inventory for busy season
-renovating or remodeling your business
-advertising
-cash flow needs for established seasonal business
-pay back taxes
-pay off some debt
-emergencies
Benefits of this program:
-90% approval rate
-approval status within 2-3 business days AFTER clean paperwork and supporting documentation is submitted
-direct deposited funds within 5-7 business days
-up to $100,000 per location
-no fixed payment schedule
-no collateral
-no tax returns or financial statements required
-no impact on your ability to qualify for other financing
-no business use restrictions on the funding
What is required to qualify for alternate funding through “Debit/ Credit Card Factoring”?
"Debit/ Credit Card Factoring" is very simple and straight-forward.
What will be required to supply:
-four months of debit/credit card statements (ideally last year’s merchant account statements)
-provide landlord information and lease information to prove that you will be in business for 12 months or longer
Business MUST NOT:
-generate less then $7500/month in debit & credit card sales
-have no more than $175,000 in unresolved liens
-be behind more then 1 payment for business rent or business mortgage
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Contributor's Note
I posted this on my payment processing blog
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This intel first appeared on: http://www.canadapaymentprocessing.com/alternate-funding.html
