Cash Advance Programs
Working Capital That Works for Your Business
Merchant Cash Advance - The Business Loan Alternative
A merchant cash advance (a.k.a. business cash advance) is a great option for business owners like you. We offer completely unsecured cash advances of up to $500,000! A merchant cash advance has many benefits in comparison to a small business loan.
How Can I Use a Merchant Cash Advance?
Once you are approved for a merchant cash advance, the funds go straight to your bank account and you may use them for anything your business needs! Buy new inventory, buy better equipment, pay for advertising and increase your sales, expand your business, working capital, keep your business on its feet.
Cash Advance Features:
Receive up to $500,000 in working capital
No up-front fees
Simple application process
No closing fees
No fixed monthly payment Visa / MC / Discover
No reporting to Credit Agencies
No Collateral Required
You can use this cash to:
Expand your business or add additional locations
Increase your product line, add seasonal merchandise, meet unexpected expenses
Purchase New Equipment
Advertise and promote your business with new marketing programs
Perform renovations
We help you capitalize on your proven track record as we advance cash through third party based on your future credit card sales. Our cash advances can put you on the right track to success and the process is very fast and simple, without the strict requirements of a traditional bank business loan.
Traditional business loans will require security (collateral), good credit and a long business history. Newer businesses and business owners with a less than perfect credit history may still qualify for our cash advances. Apply for a merchant cash advance now and get the funds your business needs against your business's future credit card sales!
How does it work?
We purchase your business's future credit card sales and give you cash in advance. Then, a small percentage of your daily CC sales will automatically be applied to your repayments until the advance has been completely repaid. In other words, you get the cash your business needs now and you only pay as your business processes credit card sales!
Our business cash advances are the best alternative to bank business loans. Even when the bank says no, we say yes!
Get a custom, no obligation quote from a specialist..
We Can Get You the Cash You Need in 7 Business Days!
If you already accept credit cards as payment and need cash to grow your business we can help. Merchants sell a specified amount of their business’ future credit and debit card receivables in exchange for cash they can use for whatever their businesses need. Once approved, a lump sum of cash is deposited into the merchant’s business checking account.One of our merchant account providers will automatically handle the collection process. As each day’s credit and debit card transactions are settled, a specified percentage is forwarded and applied to the remaining Cash Advance balance.
It’s Not A Loan
We will advance you cash based on the amount of MasterCard and
VISA sales you do each month. The Cash Advance is paid back
monthly from your credit card batch totals. Pay the advance back
over 7 to 12 months.
In order to qualify for this program you must be processing your
credit cards with a PE, LLC authorized merchant account
provider.
Questions and Answers
What is a Merchant Cash Advance or credit card receivables financing?
A merchant cash advance, also referred to as business cash advance, is a convenient alternative to a traditional small business loan. It is cash given up-front to businesses when they need it, and is based upon the cash flow from monthly credit card sales charges and total business volume. Monthly payments are not made like small business loans; instead small debits are automatically taken from batched credit card sales.
How long will I have to wait to find out if the merchant cash advance has been approved?
Approval is usually obtained within 24 hours once required documents are sent to underwriting.
How much can a business qualify for?
Businesses can qualify for $5,000 to $500,000 per location.
How is the size of the Merchant Cash Advance determined?
The amount you are approved for is determined by the average MC/VISA credit card volume over a 120 day period. We encourage submission of any documentation (bank statements, sales tax receipts) that supports total sales volume in order to be approved for the highest amount possible.
How does a business repay the Merchant Cash Advance?
We collect a small percentage of each credit card transaction through a preferred processing bank.
What are the requirements for a business to qualify?
Restaurant, Retail or Professional Service Accept credit cards as a form of payment Provide processing statements for the previous 4 months of at least $5,000 per month in credit card sales Provide most recent business bank statement Acceptable personal and business credit Have no excessive tax liens, open judgments or bankruptcies In good standing with landlord and at least one year remaining on your lease
What are the other benefits?
Funding can occur in as little as 5 days
Easy payback process
Cash advance fee is 100% tax deductible
Fast funding for opportunistic buys Improve cash flow
Builds business credit
Additional funding available before advance is paid off
No set term, no monthly payment
For more information please call us at 773-770-6143 or via email
at info@parsonenterprises.com