What you are asking about is called a Merchant Advance. I offer Merchant Advances at the best possible rates.
It`s called an advance rather than a loan because the repayment is a percentage of your Mastercard and VISA sales each month. The percentage varies depending on your credit rating, type of business, and other factors. The interest charge is fixed when the advance is funded and the repayment comes automatically from your merchant account until repaid in full.
There are three criteria to qualify:
1) You must have at least $2,500 a month in Mastercard and VISA sales.
2) You must have been in business for at least one year and had merchant account for the past six months. For advances over $75,000 you need to be in business over 2 years.
3) You must have at least one year remaining on the lease for your business location.
We can fund a Merchant Advance within 5 to 7 days after your application is submitted. The amount of the advance is based entirely on your average monthly MC/VISA sales and the maximum advance is 125% of the average MC/VISA sales.
You ask if such companies are reputable. This is a regulated industry and the financings have to conform with applicable Federal and state laws.
If you`re interested in a Merchant Advance or looking at other financing options you may have, pelase contact me.
Regional Vice President
Equity Corporate Finance, Inc.
888-498-8999 ext. 109