Frequently Asked Questions – Merchant Funding Source #merchant #funding


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Merchant Funding

Source

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FAQs

1. How can I qualify?
2. How can I use the cash advance?
3. How do I apply?
4. How does the program work?
5. How soon can I get the advance?
6. How do I pay back the cash advance?
7. How can I check my account status?
8. Can I stay with my current credit card processor?
9. Do you have to review my personal credit history?
10. Can the cash advance be renewed?
11. I have a Tax Lien, Bankruptcy, or Poor Credit. Can I still get funded?
12. Who do I call if I have questions about my account?

You have been in business at least one year
You have at least one year remaining on your property lease
For our MCA Program:
Your business accepts Visa and MasterCard as a form of payment
Your business processes a minimum of $5,000 in Visa and MasterCard sales a month
For our ACH Program:
Your business has a minimum of $10,000 total deposits a month.

2) How can I use the cash advance?

You can use your cash advance to fulfill almost any of your business needs.
Expand or remodel your business
Purchase inventory
Replace existing equipment
Promote or advertise your business
The best part is that the decision is yours!

It s easy simply fill out our online application or call a Merchant Funding Source representative at 1-866-801-9468

Merchant Funding Source offers products and services that are specifically designed to provide small to mid-sized business owners with flexible and unsecured access to capital. Your business will receive cash in exchange for the purchase of a small portion of your future Visa and MasterCard receipts. The cash advance will be deposited into your business checking account allowing these funds to be accessible immediately. This is not a loan – it will not require a complicated application process, personal guarantees, collateral, or unnecessary fees.

5) How soon can I get the advance?

Once the required documentation is provided in full with the application, money can be received quickly through an electronic transfer.

6) How do I pay back the cash advance?

A small percentage of your daily Visa and MasterCard receipts are deducted until the balance is collected.

7) How can I check my account status?

There are two ways to check your account status. You can request a monthly statement that shows the previous month s activity or you may also access your account via the web at: www.merchantfundingsourceinc.com/MerchantLogin.html .

8) Can I stay with my current credit card processor?

It is possible if Merchant Funding Source has an agreement in place with your processor we can offer a Lock Box solution for repayment. A Lock Box is a form of escrow account where a merchant instructs their current payment processor to direct their daily batch deposits to a bank account owned by the Cash Advance provider and held for the Merchant In Trust . Once the funds enter the account, the Cash Advance provider then sweeps the account or withdraws their daily portion of the funds. The remaining funds are then forwarded to the Merchant s commercial account (typically at another bank).
Otherwise, we will arrange a Merchant Funding Source partner processor who will match or lower your current processing fees.

9) Do you have to review my personal credit history?

At Merchant Funding Source we base our approval decisions on a credit scoring model that considers both a personal credit score as well as a business score. A very high percent of applicants qualify.

10) Can the cash advance be renewed?

Yes. When the advance balance is down to approximately 25% of the original balance, your business can request another advance.

11) I have a Tax Lien, Bankruptcy, or Poor Credit. Can I still get funded?

Yes. The Starter Advance program has been developed to assist merchants, who cannot qualify for a traditional funding or even a merchant cash advance, to get funding and get it fast. You are AUTOMATICALLY APPROVED in the STARTER ADVANCE program. Businesses Qualify for up to $7,500!

Funded in 48 hours!
Even if you ve been declined elsewhere!
99.99% Approval Rate*
BK s/Liens/Judgements OK
Funding in 48 Hours

12) Who do I call if I have any questions about my account?


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