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Working Capital FAQ’s
~How long will it take me to repay my cash advance?
Most merchants payback their cash advance in 7 to 8 months. Depending on the size of your cash advance and how many credit card transactions you perform, the payback period can vary.
I am already with another company providing a similar financing, can you replace that arrangement and offer me more money?
Contact us to find out specifically how much we can offer you. We often offer larger advances than our competitors and will payoff your existing advance if it is in your best interest. Call us today to find out how much you are qualified to receive.
How much does it cost to apply for Premium Business Solutions ?
Premium Business Solutions offers a free no obligation quote, and any out-of-pockets expenses such as credit reports, D and B reports, Mailing cost, etc.
DoesPremium Business Solutions require a personal guarantee?
Our Cash Advance does not require a personal guarantee. However, individuals may be liable in cases of fraud, misrepresentation, and as further detailed in contract.
I need a longer term than 6 months. Do you offer such terms? Yes, we offer programs that range from 6 months to 12 months based on the merchant’s needs.
What if I already have a business loan?
Our product is an advance, not a loan. As long as you meet our requirements, we can still provide you with immediate cash, without affecting your other obligations.
Loan Program FAQ’s
Q: How does the Loan program work?
A: Our program provides maximum flexibility with minimal hassles and loan amounts up to $1,000,000 per location. Choose your term starting at 20 weeks and in some cases extending to 104 weeks with numerous terms in between and pay off anytime you like. We have a streamlined application process, require minimal documentation, and fund quickly – often in as little 5 to 7 business days. The lenders never require collateral, and never interfere with your credit card stream.
Q: Will the payback with Lender be tied to my credit card sales?
A: No. Many cash advance companies receive their payback by deducting up to 30% from your daily Visa® and MasterCard® sales, and they may require you to change your credit card processor. The Lender requires no change in your credit card processor and does not interfere with your credit card stream.
Q: Do I have to participate in any marketing or rewards programs to get cash?
A: No. We do not require you to sign up for any unwanted marketing or rewards type program that relies on either a registered card platform or credit card transactions to receive working capital. Often times, these types of programs have hidden costs involved like funding tax and tip, or they cannibalize your sales growth by simply repaying your cash advance back using existing customers. Why let some other company reap the benefits of your hard work? Our philosophy is simple; we offer you lower and more cost effective rates, with paybacks that are easy to understand, and provide you financing flexibility. Cheaper, Simpler, More Flexible Financing is what we do!
Q: How much cash can I get and how do I qualify?
A: The lender use actual gross sales to determine your loan amount. Potential loan amounts vary from 4% to 11% of annual sales (based upon current or projected sales) and credit worthiness. Example: If your average monthly sales volume is $100,000 or $1,200,000 annually, your potential loan amount is $48,000 to $132,000. If sales increase over time, you may qualify for additional cash. All loans are subject to the lenders standard underwriting criteria.
Q: How do I get the money?
A: After your loan is approved, we typically wire transfer the loan proceeds directly to your business account. A traditional check can be mailed to you if you prefer. Disbursement options are available to pay vendors directly for equipment purchases. This enables you to free up cash for other important purchases and expenses.
Q: How does the lender get paid back?
A: It's simple. Once a week or daily they process an ACH debit from your authorized business checking account. This ACH debit remains the same over the term of your loan. You'll know what to expect and can set your budget accordingly. They don't require automatic renewals or continued commitments once your loan is paid, but if you choose to renew, the process is quick and easy!
~How long will it take me to repay my cash advance?
Most merchants payback their cash advance in 7 to 8 months. Depending on the size of your cash advance and how many credit card transactions you perform, the payback period can vary.
I am already with another company providing a similar financing, can you replace that arrangement and offer me more money?
Contact us to find out specifically how much we can offer you. We often offer larger advances than our competitors and will payoff your existing advance if it is in your best interest. Call us today to find out how much you are qualified to receive.
How much does it cost to apply for Premium Business Solutions ?
Premium Business Solutions offers a free no obligation quote, and any out-of-pockets expenses such as credit reports, D and B reports, Mailing cost, etc.
DoesPremium Business Solutions require a personal guarantee?
Our Cash Advance does not require a personal guarantee. However, individuals may be liable in cases of fraud, misrepresentation, and as further detailed in contract.
I need a longer term than 6 months. Do you offer such terms? Yes, we offer programs that range from 6 months to 12 months based on the merchant’s needs.
What if I already have a business loan?
Our product is an advance, not a loan. As long as you meet our requirements, we can still provide you with immediate cash, without affecting your other obligations.
Loan Program FAQ’s
Q: How does the Loan program work?
A: Our program provides maximum flexibility with minimal hassles and loan amounts up to $1,000,000 per location. Choose your term starting at 20 weeks and in some cases extending to 104 weeks with numerous terms in between and pay off anytime you like. We have a streamlined application process, require minimal documentation, and fund quickly – often in as little 5 to 7 business days. The lenders never require collateral, and never interfere with your credit card stream.
Q: Will the payback with Lender be tied to my credit card sales?
A: No. Many cash advance companies receive their payback by deducting up to 30% from your daily Visa® and MasterCard® sales, and they may require you to change your credit card processor. The Lender requires no change in your credit card processor and does not interfere with your credit card stream.
Q: Do I have to participate in any marketing or rewards programs to get cash?
A: No. We do not require you to sign up for any unwanted marketing or rewards type program that relies on either a registered card platform or credit card transactions to receive working capital. Often times, these types of programs have hidden costs involved like funding tax and tip, or they cannibalize your sales growth by simply repaying your cash advance back using existing customers. Why let some other company reap the benefits of your hard work? Our philosophy is simple; we offer you lower and more cost effective rates, with paybacks that are easy to understand, and provide you financing flexibility. Cheaper, Simpler, More Flexible Financing is what we do!
Q: How much cash can I get and how do I qualify?
A: The lender use actual gross sales to determine your loan amount. Potential loan amounts vary from 4% to 11% of annual sales (based upon current or projected sales) and credit worthiness. Example: If your average monthly sales volume is $100,000 or $1,200,000 annually, your potential loan amount is $48,000 to $132,000. If sales increase over time, you may qualify for additional cash. All loans are subject to the lenders standard underwriting criteria.
Q: How do I get the money?
A: After your loan is approved, we typically wire transfer the loan proceeds directly to your business account. A traditional check can be mailed to you if you prefer. Disbursement options are available to pay vendors directly for equipment purchases. This enables you to free up cash for other important purchases and expenses.
Q: How does the lender get paid back?
A: It's simple. Once a week or daily they process an ACH debit from your authorized business checking account. This ACH debit remains the same over the term of your loan. You'll know what to expect and can set your budget accordingly. They don't require automatic renewals or continued commitments once your loan is paid, but if you choose to renew, the process is quick and easy!
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