One of the most important factors to consider when you’re seeing alternative financing for your business is how and when the funds will be repaid. Since the funds are not a traditional loan product, repayment is done a little differently.
Our technology allows us to work with our merchants to pay back a small percentage of their advance daily, usually over the course of 6-12 months.
This is usually done through a preset debit of a percentage of credit card receipts, or a preset amount to be pulled from a business bank account via ACH. This ensures that repayment is as pain free as securing funds for our merchants.
For merchants who choose our credit card repayment option, we offer access to a full complement of card processing services, often at a lower rate than their existing processor. They can save money while processing with us-and repay their advance without having to think about it. Our ACH withdrawal plan is the simplest and fastest way to set up repayments with us-and requires only that merchants provide access to a business account they make regular deposits to.
Our online system helps our merchants to stay focused on what they do best, and grow their businesses while keeping up with their payments. With unlimited access to our portal, merchants can see exactly where they are with repayment amounts, current remaining balances and additional funding options.