Unsecured Loan Program...
Benefits of Program
• We loan from $15,000 up to $1,000,000 per location.
• We typically offer longer terms than MCA companies (12, 14, 16, and 18 month’s available).
• Our funding offers per location are typically 150% of an MCA company’s offer.
• Interest is tax deductible - we are a licensed lender, and the interest on our loans is tax deductible, resulting in lower effective financing costs to the merchant.
• Weekly ACH repayment - we don’t interrupt, interfere or delay the merchant’s credit card
processing in any way (no credit card processor switch required and no lockboxes).
• No Tax Returns needed unless funding request is above $250,000 ($150,000 for retail).
• 12 month or 18 month products available for quality merchants
• Pre-qualified offers within 24 hours of complete submission.
Below are some additional parameters...
• We loan from $15,000 up to $1,000,000 per location.
• We typically offer longer terms than MCA companies (12, 14, 16, and 18 month’s available).
• Our funding offers per location are typically 150% of an MCA company’s offer.
• Interest is tax deductible - we are a licensed lender, and the interest on our loans is tax deductible, resulting in lower effective financing costs to the merchant.
• Weekly ACH repayment - we don’t interrupt, interfere or delay the merchant’s credit card
processing in any way (no credit card processor switch required and no lockboxes).
• No Tax Returns needed unless funding request is above $250,000 ($150,000 for retail).
• 12 month or 18 month products available for quality merchants
• Pre-qualified offers within 24 hours of complete submission.
Below are some additional parameters...
• Brick and mortar retail
• 3 months in business, with at least $30,000 in monthly sales.
• If time in business is = 1 year the minimum monthly sales required drops to $20,000.
• Minimum credit score of 550 - but the higher the credit score the better the rate to the merchant.
• No open BKs, BK must be dismissed/ discharged for at least 1 year.
• Tax liens must be less than 20% of average monthly sales or have a payment plan with at least 3 payments made.
• Must be current on mortgage and business rent (may be up to one month late if high credit merchant).
• Existing advances do not disqualify the merchant, but the advance must be paid off out of loan proceeds (except with an advance from Rewards Network).
• 3 months in business, with at least $30,000 in monthly sales.
• If time in business is = 1 year the minimum monthly sales required drops to $20,000.
• Minimum credit score of 550 - but the higher the credit score the better the rate to the merchant.
• No open BKs, BK must be dismissed/ discharged for at least 1 year.
• Tax liens must be less than 20% of average monthly sales or have a payment plan with at least 3 payments made.
• Must be current on mortgage and business rent (may be up to one month late if high credit merchant).
• Existing advances do not disqualify the merchant, but the advance must be paid off out of loan proceeds (except with an advance from Rewards Network).
Let me know if you have clients for this and I can get you an application to have them fill out. Thanks.
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