Small Business Loans:
Based on gross monthly revenue, but it may be based on monthly credit card processing volume.
Can consolidate multi locations
Fast process: 3-6 business days to fund. Renewals can be funded within 24 hours.
Not solely based on credit score
Applicant not reported to credit Bureaus
Business can be reported to credit bureaus. This will increase the business’ credit rating.
Completely automated and manageable payback
Money could be used for any purpose: advertising, emergencies, equipments, expansion, inventory, remodeling, payroll, POS systems, taxes, and more.
Business cannot have any open bankruptcies
Business must be current with landlord and have at least 12 months left on the lease. If applicant owns the building and owns a mortgage, he/she must be current with mortgage.
Short term: 4-18 months
Not a line of credit but cash disbursement
No need to change credit card processor (only few exceptions may apply)
Important Facts to Consider:
Small business loans are offered to businesses that have been in business for at least 6-9 months and process at least $5,000 per month in Visa and MasterCard transactions.
Business must be current with landlord and have at least 12 months left on the lease. If applicant owns building, he/she must be current with mortgage.
Business cannot have any open bankruptcies.
There are no application fees for our financial products and services. We get paid when you receive your funds. It's just that simple.
We offer mostly ACH Only loans and cash advances, which means there is no need to change your current credit card processor. Repayment amount is conveniently debited from your bank account every day.
We also offer some split fund loans and cash advances, which means you will be required to change your credit card processor. In this model, a predetermined percentage of the daily credit card volume is used towards the repayment of the loan or the cash advance until it is paid fully.
Types of Loans:
Bank-Only ACH Programs: Fixed daily payment program debited directly from the merchant's bank account.
Traditional: The traditional program requires split funding through one of our many processing partners, or (if the processor cannot be changed) direct debiting of funds from the merchant's bank account.
Starter: For merchants who do not qualify for other programs. This allows them to take smaller cash advances and build lender confidence.
Premier: For "better qualified" merchants. These options offer lower cost and longer payback.
Canada Advances: All of the above programs can be funded in Ontario, Canada.