Electronic Payments can enable you to generate the working capital your business needs for growth and success. Our funding partners work with merchants to purchase a preset amount of their Visa® and MasterCard® credit card receivables, infusing your business with the cash you require now while waiting several months or years for the funds to be paid back.
Business cash advance is one of the easiest and most popular methods for small business financing available today. The cash advance business has gained increased popularity and exposure as merchants'' continue to seek alternative sources for their business financing. The outcome provides merchant''s with even more cash to grow and expand!
Every business owner who has ever tried to get a business loan knows that it can often be very difficult to convince a lending institution to approve an application for credit. The criteria is often more stringent than a personal loan and banks are often reticent against loaning money to a business that doesn''t produce enough net income or have a long track record of borrowing and paying back such notes.
While it might be difficult to obtain a business loan, the criteria for a business cash advance is different and the access to cash advance funding is much easier. Many cash advances are offered to merchants with less than stellar credit or those who have extended themselves into a bit of debt while growing their businesses.
Similar to factor companies that buy your business-to-business receivables, a cash advance company can offer merchants up-front money based on their business-to-consumer sales receipts.
And unlike traditional bank loans, a cash advance does not require a personal guarantee or collateral to be put up for the advance. Furthermore, the advance is flexible, so there aren''t any fixed repayment schedules or strict payment terms. The cash advance will be repaid over time right from the deposits the merchant receives. The funding source only gets paid as the merchant rings up new sales during slower times or off days, the amount of repayment would be less.
Cash Advance Loans are not offered by First National Bank of Omaha.