FAQ

What is this?

This is a modern innovation in working capital. We are able to lend funds to you by using your credit card sales as an asset.

How much can I get?

We review your last 12 months of credit card statements to determine this. We will lend up to a one month average of the last 12 months of your credit card sales. Our loans begin at $50,000 and go up to $3,000,000.

How long is the payback period?

We typically structure our loans to get paid back anywhere from 6 months to 2 years. This will represent a small percentage of your credit card sales.

Do I have to change my processor?

We may be the only merchant advance company that permits you to keep your processor. However, if you would like to change processors, we have relationships with several of the largest and best processors, who will either meet or beat your current rates and level of service. Nevertheless, we appreciate your loyalty to existing relationships and would like to be part of it, not replace it.

What can I use the funds for?

You can use it for any purpose. Typically, our clients use it to add to working capital for expansion, seasonal needs, renovation, inventory purchases etc.

What if I already have bank financing?

We can work with your bank lines so that this is a complement to, not a replacement of, your existing financing.

Other merchant advance companies stress that this is not a loan. Why is that?

It might be because they don't want anyone to understand how much they charge. There is the possibility that their high rates violate banking regulations concerning loans. Classifying an advance as a “purchase of assets” avoids potential legal issues regarding usury laws. It has been our opinion that if you receive money and expect to pay it back, plus some additional cost, within a period of time, then it does not matter what you call it; it is a loan.

Are there any tax advantages?

Yes there are tax advantages to taking out a business loan. We recommend that each merchant speak with their accountant for specific details.

How long does this take?

Our due diligence is usually completed within 24 hours. However, because we need to coordinate with your processor and bank, the funding usually takes between 5 and 10 business days.

Can I get additional funding after I close with Credit Cash?

Yes. Most clients qualify for additional funding after they have paid down their original loan by 50%. Some clients use this facility like a revolving loan.