Merchant Cash Advance FAQs
- How can Global Swift Funding help expand my business?
Whether it be an influx of cash through a Global Swift Working Capital Merchant Cash Advance, increasing your profit margins and acceptance through Global Swift Merchant Services, or a combination of both; Global Swift Funding has a myriad of options to expand just about every type of business. Please visit the following link to learn more about our Working Capital merchant cash advance. You'll soon see how we can help your business grow.
- What are the differences between a bank loan and Merchant Cash Advance from Global Swift Funding?
A traditional small business loan is a time consuming and inflexible process where the bank is very restrictive. You need a lot of documentation, collateral and your business has to be in an excellent shape. In a few words, the bank will usually lend you money when you least need it. At Global Swift Funding we have made the Merchant Cash Advance approval process very simple and straightforward. Approval and funding is usually done within a week. As this is not a loan, your credit is not affected.
- How does the Merchant Cash Advance program work?
Global Swift Funding works with Small and Middle Market business owners, working directly alongside them to grow their business. Global Swift Funding prides itself on being the most flexible Merchant Cash Advance firm in the industry and our offerings set us apart from the crowd. Global Swift Funding purchases your future receivables at a small discount, creating a merchant cash advance. Allowing for easier reconciliation, Global Swift Funding collects a fixed amount so that you can run your business effectively.
- How do I know if I qualify?
Thanks to our innovative system, the merchant cash advance application process is quick and easy. All you need to qualify is:
- One year in business
- Consistent future receivables
- Minimum 500 FICO score
- No unresolved bankruptcies
- No criminal record
- Are There any Limits on How I Can Use the Money?
We pride ourselves on providing working capital to companies to grow their business, to remodel, add space, market or purchase additional inventory. The Global Swift Merchant Cash Advance program allows our merchants to use the capital for almost anything related to their business. Most merchants use the money for expansion and additional inventory. Please Contact Us today for more information.
- How soon can I get the money?
Pre-Approval is granted in 24 hours and funding can be made in as little as 7 business days!
- Do I need to change credit-card processors?
Do to our unique and convenient repayment; you may need to switch processors. Global Swift Merchant Services offers very competitive rates and acceptance solutions to suit your business. GSMS guarantees to meet or beat your rates, if we cant, we wont make you switch. It is that simple! Visit the Merchant Services page to find out how.
- Are there penalties for early repayment?
As our merchant cash advance is not a loan, there are no penalties for early repayment. We grow along with you!
- How do I repay my Merchant Cash Advance?
We customize a solution that best fits your needs. Usually, we collect a payment directly from your credit card sales once per week. There are no checks to write and it is easy to both forecast and reconcile.
- What do you mean by "gross annual receivables?"
Gross annual receivables are made up of all bankable sales (Cash, Check, Credit & Debit), annually. This will help us determine the total funding made available to your company.
- Whom do I call with questions about my account?
For any questions regarding your Merchant Cash Advance account, contact customer service at 619.482.7200 or email us at info@gsfusa.com