Does your business accept credit cards? If so, you may be sitting on a great source of working capital. The alternative business financing, or Merchant Cash Advance industry, as it is commonly called, has stepped in to assist small business owners when traditional banks couldn’t or wouldn’t.
Companies like eProdigy have worked with merchants for years to assist them with obtaining the working capital they need to keep their businesses growing.
By tapping into your future receivables, we can work with your business to provide funding from $1,000 to $250,000, with a repayment plan that spans anywhere from 6-18 months – all based on your business’ daily transactions.
Our funding is more inclusive than a traditional bank, because as direct funders, we use different variables to determine the eligibility of our merchants. With our state-of-the-art underwriting software, we are able to take into account a businesses’ receivables, daily transaction amounts, payments and other factors before making a funding decision.
More than a credit score calculator, eProdigy’s software takes existing financial information and aggregates it with other business related data. This gives us a fuller view of the business’ health and ability to repay – and oftentimes is the difference between receiving much needed funding and being declined by a traditional bank.
The beauty of our process, is that we can get the data we need and have a decision in less five minutes-instead of the weeks or months a traditional lender may take just to turn your application down. This software is backed by a professional staff of funding officers who will work with you to get the best possible rates and repayment terms.
Purchasing new equipment, adding inventory for a new location or preparing for a major bid has never been easier. At eProdigy, we can help you get the working capital you need to move your business forward.