REVOLVING LINE OF CREDIT

Fast:

  • Approvals in as little as 24 hours.
  • Once approved, draw down anytime for same-day cash in your bank account.

Flexible:

  • Draw up to the maximum credit line whenever you want.
  • Pre-pay whenever you want with no fees to save BIG on interest.
  • True revolver: Every payment replenishes your available capital for your next draw.
  • No fee on the unused amount.

Guidelines:

  • Up to $250,000 on 1st lien position Or behind a Bank / SBA loan.
  • Up to $35,000 when stacked. We will not go beyond 3rd lien position.
  • (Buyouts): The maximum line of credit must cover the fully buy-out price of the Merchant Cash Advance. Note that buy-outs typically take longer than the normal 48 hours to approve.
  • Maximum line of credit = 25% to 75% of monthly deposits.
  • Weekly and Monthly payments available.

Terms:

  • Option #1 :  6 month term per draw with 26 weekly equal payments.
  • Option #2: 12 month term per draw with 12 monthly payment.
  • Fully amortizing, so interest payments decreases with every payment.
  • Option #1: 0.35% to 1.5% per week / 5% to 22% simple interest over 6 months.
  • Option #2: 1.5% to 6.5% per month / 11% to 47% simple interest over 12 months.
  • 1.6% to 2.5% fee per draw.
  • No other fees under this program.

Eligibility Criteria:

  • Minimums: 620 FICO, $20,000 in monthly deposits, 6 months time in business.
  • Maximums: Two NDF's in current month or 5 NSF's during past 2 months.
  • States Unavailable: South Dakota, North Dakota, and Vermont.

Application:

  • Fill out our quick & simple application form.
  • Provide latest 3 months business bank statements (all pages).