Ready to step into the big leagues? Do you have a plan to crush the competition and become the dominant success story in your region? Ready for the cover shoot of your local business magazine? If so, then we can provide the capital to take your business into the stratosphere. If you process at least $2 million per year in credit card transactions, this program is for you.
Key Points:
• You do not have to change credit card processing to qualify; we use a sweep account payback method.
• The factor rates charged for the jumbo cash advance are between 1-2 points per month. Example – a 12 month deal will have a factor rate between 1.12 and 1.24 with an average factor rate at 1.18.
• Your gross annual sales must be $3,000,000 or greater.
• Your credit card annual sales must be $2,000,000 or greater.
• The credit scores of the principal owner or owners must exceed 670.
• Principals must not have any prior bankruptcies.
• Your business bank account average balance must exceed 2% of loan request. Example – For a $1M advance, you should have an average bank balance of $20K.
• Your business bank account should have no more than 3 NSFs/month
• Rents and leases must be less than 20% of gross revenue.
• Business start date: must be more than 2 years old.
• Years under current ownership: must be more than 2 years.
• Years in Industry: must be 5 or more.
• Sales are mostly through brick-and-mortar operations and storefronts (not web).
Paperwork required for approval:
1. Financial Statements – Last Annual and Current Year-To-Date Application
2. Personal Financial Sheet
3. Processing Statements –12 months
4. Tax Returns – Most recent corporate and personal return
5. Rent Statement
6. Lease
7. Drivers License or Passport Copy
8. Bank Statements –3 months
Apply today!
Click here to go to the application download page.
