The history and popularity of the business cash advance is closely tied to the growth and acceptance of credit cards and merchant accounts. As more and more businesses opened merchant accounts to accept credit cards as a form of payment, financial pioneers, such as Express Funding Group, were then able to start extending business cash advances based on the cash flow passing through those merchant accounts. Your monthly credit card sales will determine the amount of your business cash advance, and your personal comfort level will be a substantial factor in setting your repayment schedule. Express Funding Group is one of the few institutions prestigious enough to accept American Express receipts in addition to Visa, Master Card and Discover as the basis on which your Business Cash Advance is calculated. Unlike the traditional small business loan, our business cash advance is unsecured.
Know Your Credit Score
In today’s economic environment it is very important to know what your credit scores are from all three major credit bureaus. (Equifax, Transition, Experian). In order to qualify for a loan whether it is a personal or business, you must be in good standing with the above mentioned credit bureaus. When a lending institution considers whether to extend a business loan or line of credit they will first look at the credit worthiness of the applicant. Personal credit gives a lender an excellent view into the borrower’s credit history and whether he or she is credit responsible and likely to pay back the loan that the lender would provide. “GET YOUR FREE 3 IN 1 CREDIT REPORT NOW!!”
Repayment
Working together with our merchant account system we will automatically deduct a small percentage of your monthly credit card sales to repay your business cash advance automatically. No late fees, no stamps, no hassles! Express Funding Group knows the best method to reduce risk is to give your business what it needs, and then stay out of the way. You focus on your business and eventually the debt disappears. Express Funding Group is able to offer your company this easy and flexible payment method, because we listen to your concerns while setting your personalized repayment schedule. Our goal is to have a happy business owner who is focused on their business success, and not on loan payment due dates. By teaming up with Express Funding Group you secure more than a finance provider -- you gain an entire organization devoted to your success.
Your New Financial Partner
Express Funding Group knows small business and the demands placed on the small business owner. Call today to speak with one of our knowledgeable small business financial service specialists so that we can guide you though every detail of the very short application. We pride ourselves on our willingness to spend as much time with you as necessary to achieve full understanding. We are confident that the more you know about the Express Funding Group Business Cash Advance, the more you will want to use our service.
Getting Started
While Express Funding Group constantly strives to provide the most user friendly atmosphere, there are some requirements your business must meet in order to qualify for a business cash advance. Copies of your merchant account statements and a copy of your business license are normally sufficient documentation in order to complete your application. Your EFG small business financial service specialist will advise you in the unlikely event that more documentation is required.
Easy Requirements
Accepts credit cards as a mode of payment
Processes a minimum of $3,500.00 in credit card sales per month
Has been in business for at least 6 months
Seasonal businesses must provide 12 months of sales records; 3 months for non-seasonal businesses
