How will you help to fund my business
needs?
Through American Bancard, we will provide you with a
business financing program that is designed to help you manage your financial
needs, and we do so by providing you with a more responsive alternative to
traditional bank lending. Once qualified, we will wire the cash directly
into your business checking account within 72 hours after approval.
How does the program work?
Our program is a convenient way to finance your business
operations. The most important thing to remember is that this not a bank loan.
It's an alternative form of business financing that is called factoring. There
are no payment books, no checks to write, no speaking with people who don't
understand your needs, none of the traditional bank hassles, and most of
all…no more "no's." We will provide your business with a cash advance based
upon your average monthly Visa/Mastercard sales.
- We review the last 4 months of your merchant statements
to determine your average monthly VISA/MC sales volume, and project your
future sales based on that average.
- We then purchase a percentage of those future VISA/MC
sales at a discount, and wire that amount as cash, directly into your
business checking account, for your immediate use. You will receive in cash,
an amount slightly higher than your average monthly sales.
Example: You average $ 10,000 in VISA/MC sales on a monthly
basis
We'll deposit $ 10,350 into your business
checking account as cash
- The purchase amount is being repaid as we deduct a small
percentage from your daily VISA/MC sales only, going towards your repayment.
Typically, repayment is completed in approx. 7 months. No payment books, no
checks to write, and no specified time frame for repayment.
How do I know if I qualify?
First, show that you've been in business for 12 months or
longer* and that you accept Visa/Mastercard for at least 4 months. Second,
demonstrate a minimum Visa/Mastercard volume of $ 2,500 monthly which is
determined from your merchant statements, and you must have no prior
unresolved bankruptcy. You can begin the application process immediately, by
using our
Contact
Form.
* If you have been in your business for less than 12 months, please be able
provide evidence of prior industry related experience
What can I use the money for?
Many of our customers use their cash advance for
business-building needs like adding more seats to their restaurants, expanding
their office, showroom or warehouse space, increasing their advertising,
adding to their inventory stocking up on seasonal merchandise, or purchasing
tools or equipment. Others use the cash to buy out a partner, or for emergency
needs like unforeseen maintenance issues that could interrupt your business.
It's your business and you should use it for any need that will enhance
your business.
How soon will I get the money?
The average time from receipt of a contract, to having
the cash deposited into your business checking account, is within 14 days.
Do I need to change credit-card
processors?
You may need to change credit-card processors to one that
has a relationship with our business funding program. It is the unique and
convenient way to repay the capital funding. Our affiliated processor will
meet your current rates and fees.
What kind of discount do I get if I
pay early?
Since this is not a bank loan, there is no monthly payment schedule. We get
paid only when you get paid.
