Understanding how a credit card advance works is very easy. The process is not only simple, but it is very convenient.
We will review your application and the last four months of your business's merchant statements, (12 month if your business is seasonal).
Based on your monthly credit card sales, we will advance you anywhere from $5,000 to $500,000. It usually takes about seven business days for the money to be wired into the account of your choice.
You can use the money however you choose. Many of our merchants choose to use their funds for advertising, inventory, renovations and even working capital.
As soon as you receive your funds, your easy credit card advance repayment begins. Paying back a credit card advance is much more convenient for merchants than repaying other types of business loans.
Credit card advance payments are automatically made every time customers swipe their credit cards to pay for your products and/or services. Then, a small percentage from each sale that your business processes is deducted and added to the repayment of your credit card advance.
This method allows payments to go with the flow of your business.
When you have paid off at least 60 percent of your credit card advance, you become eligible for renewal. Typically, it takes about 3 ½ months to become eligible for credit card advance renewal.
When you renew, you will not be required to complete any additional applications, nor will you be required to submit any additional merchant statements. You will receive your funds in 24 to 48 hours and there is no limit to the number of times you can renew your credit card advance.