FAQs
- What
can Fund My Biz do for my business?
- How
can I use the cash?
- How
does it work?
- Will
I qualify?
- How
long will I have to wait to find out if I have been approved for my cash
advance?
- How
much can I qualify for?
- How
soon can I have the cash?
- Will
I receive the same low rates as my current credit card processor?
- Will
I be able to monitor the progress on my account?
- Who
can answer my questions, or help me start the funding process?
- Question:
What can Fund My Biz do for my business?
Answer:
We offer you a way to improve your business for the
future by accessing cash now. It’s not a bank loan, so you’re more
likely to be approved, and your cash becomes available to you quickly.
- Question:
How can I use the cash?
Answer:
Use the cash any way you see fit. Customers typically
use the cash to support or upgrade their business in some way. Maybe you
need repairs or inventory. Maybe you would like to expand your present
location or simply add a new location. Better still, maybe you’d like to
seize an opportunity in your marketplace before a competitor does.
- Question:
How does it work?
Answer:
The funding process is simple. Fund My Biz purchases
your future credit card transactions and advances that money to you. After
you have your advance, your processing back will deduct a small, fixed
percentage of from your daily credit cards sales until the advance is made
whole.
- Question:
Will I qualify?
Answer:
If you’ve been in business for over a year and
process at least $4,000 in credit card sales each month, you are well on
your way to approval.
- Question:
How long will I have to wait to find out if I have
been approved for my cash advance?
Answer:
Pre-approval is usually obtained within 24-48 hours.
Funding can take as little as 7 business days depending on the amount of the
transaction and the time it takes to get the necessary documents required to
fund.
- Question:
How much can I qualify for?
Answer:
Your monthly credit card volume will qualify you for
$3,000 to $125,000. The amount of receipts purchased is determined by your
average Visa/MasterCard volume over a 90-120 day period.
- Question:
How soon can I have the cash?
Answer:
After a complete contract is submitted and approved,
funding can happen in as little as 10 business days.
- Question:
Will I receive the same low rates as my current credit
card processor?
Answer:
The funding process works through your credit-card
terminal so we may need to switch you over to our preferred credit card
processor. We work with an outstanding organization that will match or may
actually beat your current rates, and will make the transition virtually
seamless.
- Question:
Will I be able to monitor the progress on my
account?
Answer:
You can log on to the Fund My Biz website to view
your account status online, and you’ll also get a statement each month.
- Question:
Who can answer my questions, or help me start the
funding process?
Answer:
You can reach our Fund My Biz representative at:
(877) 386-3390 from 9 a.m. – 6 p.m. EST, Monday - Friday,
or you can send an email to steven@fundmybiz.com
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