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. A small percentage, on average of about 18%, is deducted from your daily receivables until the balance is paid in full.
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 Working Capital merchant cash advance program allows our merchants to use their money for almost anything related to their business. Most merchants use the money for expansion and additional inventory. We specialize in Restaurant Financing, as well as funding for many small to mid sized businesses. Please Contact Us today for more information.
How soon can I get the money?
Approval is granted in 48 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 method based on our Merchant Financial Services agreement with the National Processing Company, 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! Visit the Merchant Services page to find out how.
What kind of discount do I get if I pay early?
As our merchant cash advance is not a loan, there are no discounts for early repayment. There are also no set terms associated with the capital. We grow along with you!
How do I repay my merchant cash advance?
Depending on each individual circumstance, we customize a solution that best fits your needs. Normally a variable percentage of gross sales are deducted daily until the full repayment amount has been fulfilled.
What do you mean by "gross annual receivables?"
Gross annual receivables are made up of all bankable sales, 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