Credit:

Some programs for any credit situation (no business bankruptcies allowed at all)

Loan Terms:

4 month to15 month repayment (rare situations as long as 24 months)

Loan Size:

4k to 2MM (usually able to approve approximately 80% of one month’s gross revenue)

Time in Business:

Minimum of 6 months in business, ideally 9 months

Average Daily Bank Balance:

3k minimum or 4k in credit cards sales average over the last 4 months

Loan Cost:

Not an Interest Rate but a fixed %, which varies based on each situation

Excluded Business Types:

Adult Entertainment, Attorneys, Beauty & Nutritional (Internet/Mail Order), Brokers, Dealership/Auctions, Direct Marketing/MLM, Drop Shipper/Furniture Delivery, Entertainment & Event Ticket Sales, Fitness (Health Clubs & Personal Trainers), Mailbox Store (Pack & Ship), Pawn Shop, Rims & Wheels, Independent Tutors, Travel/Tours, Class 3 Weapons Dealer

Monthly Bank Deposits:

15 minimum or is CC based at least 10 batches per month showing 15 transactions of $500 average or 50+ with no minimum

Lending Territory:

All US, UK and Canada

Special:

This product cannot be used to purchase another existing business. All Cash Advance Programs are repaid through a Daily ACH, these programs however are the most flexible if there are issues that need to be explained in credit history or any extenuating circumstances, as long as there is documentation to support the “story.” If borrower wants to apply for a cash advance loan they can do so, but the lender selects what cash advance program they will offer the borrower.

Docs Needed to Apply:

• Application and Authorization signed by a minimum of 51% ownership (50% OK for some states)
• Merchant Processing Statement (if business takes credit cards) Summary and daily breakdown of the most recent month.
• Complete Bank Statements (last 6 months)
• Driver’s License/State Issued ID for at least minimum ownership
• Voided check (must match legal business name or DBA)

Additional docs for Underwriting:

• Business Ownership Paperwork showing % ownership (example would be Business License for a sole proprietor or Articles of Inc. for a Corp.)
• Franchise info if applicable
• UCC or Open Loans contact info- proof that all open loans are current
• If >100k proof of tax payments (proof all payroll and sales tax is current)
• If >100k Financial Statements prior year of business financials as well as interim YTD