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[av_toggle title=’What is a Merchant Cash Advance exactly?’ tags=’Merchant Cash Advance’]
A Merchant Cash Advance is a lump sum payment to a business in exchange for an agreed upon percentage of future credit card and/or debit card sales. The term is now commonly used to describe small business advances that are repaid traditionally in less than 24 months.
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[av_toggle title=’Do I have to change Merchant Processors if I receive a Merchant Cash Advance?’ tags=’Merchant Cash Advance’]
The majority of the Cash Advance Funding companies we work with do not require the merchant to switch processors. However, dependent on some factors of the clients file, these companies may from time to time request the client use one of their “Approved Processors”.
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[av_toggle title=’Do you charge a fee?’ tags=’Merchant Cash Advance, Business Loans’]
For the most part, NO. While the majority of our financing partners pay us direct, a couple of the companies do not. Should we feel that your file would be best placed with one of the companies that doesn’t pay us, we would fully disclose this upfront and advise what our fee would be prior to even submitting the application.
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[av_toggle title=’How is my Merchant Cash Advance Re-paid?’ tags=’Merchant Cash Advance’]
Once you have received the funds, the funding company gets their payments by taking a small percentage of your debit/credit card processing (called a withholding percentage). So, as your processing fluctuates up and down, so does your payment which can be very beneficial when you have slower days.
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[av_toggle title=’How would my loan be repaid?’ tags=’Business Loans’]
Unlike a Merchant cash Advance, the small business loan is repaid with a fixed micro payment amount. This may make it easier for you to plan cash flow given you will know exactly what you commitment is.
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[av_toggle title=’Does Interest Accrue or Accumulate?’ tags=’Merchant Cash Advance, Business Loans’]
NO. A Merchant cash Advance and a Small Business Loans are not “interest bearing” instruments. They are the purchase of your future sales at a preset, fixed dollar amount.
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[av_toggle title=’My credit isn’t the best, can I still qualify?’ tags=’Merchant Cash Advance, Business Loans’]
Yes. We work with companies that don’t put as much emphasis on personal or business credit. They put more emphasis on other factors.
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FAQ didnt solve your problem?

Here are several ways to contact us

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Simply Fill Out the Form to the Right
Call us at 1-800-971-8040

OR email us at info@prismbusinessservices.com
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