FREQUENTLY ASKED QUESTIONS:
Q. How much can I get from a merchant cash advance?
A. The amount you get from a merchant cash advance depends on how much in credit or debit card sales you process each month. The bigger you are, the larger the available advance. Some business cash advances reportedly go as high as $1 million, but typical arrangements are for less than $200,000.
Q. How long does it take?
A. From the time you apply for a merchant cash advance, it takes less than a week, sometimes less than 48 hours, for you to get the cash, assuming you’re approved.
Q. What do I have to put up for collateral?
A. Merchant cash advances aren’t loans, so you don’t have to put up any collateral. Instead you agree to sell a portion of your future receivables in exchange for the cash advance.
Q. How long must I be in business to get a merchant cash advance?
A. Requirements vary among business cash advance providers, but you must show a healthy track record of debit and credit card transactions for at least a few months.
Q. What are the downsides?
A. Merchant cash advances tend to be more expensive than bank loans and traditional credit lines.
Q. What if my business fails and I haven’t paid back the merchant cash advance?
A. You have no obligation to repay the cash advance if your business fails. When purchasing your future receivables, the provider assumes the risk that you could go out of business. But you must follow the terms of the contract. For instance, you can’t encourage customers to pay with cash instead of credit.
Q. Who is Commercial Capital Worldwide FUNDING?
A. Commercial Capital Worldwide Funding, Inc. was founded in 1995 and provides working capital solutions to small businesses. Commercial Capital Worldwide FUNDING offers three main alternative financing programs. In addition to our original offering, the merchant cash advance, we also now offer small business loans and an inventory purchasing program.
Q. How fast can I receive funding?
A. With a merchant cash advance or a small business loan from Commercial Capital Worldwide Funding, Inc. your application can be reviewed in as little as 24 hours. Once approved, you will typically receive funding within 7 to 10 days. If you choose the traditional bank loan route, you may have to wait several months to receive your money. As such, when you need immediate working capital for your business, COMMERCIAL CAPITAL WORLDWIDE FUNDING'S fast and flexible programs have a clear advantage over a complicated and slow traditional bank loan.
Q. Do I need a business plan to obtain working capital through EPS FUNDING?
A. No. One of the many advantages of OUR FUNDING program over a traditional bank loan is that COMMERCIAL CAPITAL WORLDWIDE FUNDING does not require a business owner to provide a business plan in order to receive funding. On the other hand, the majority of traditional lenders require applicants to provide a written business plan that describes the nature of the business, target market, nature of competition, marketing plan, and list of likely expenses. They often also require financial models and documents such as a projected cash flow statement, balance sheet and income statement.
Q. Can I qualify for funding if I have bad credit?
A. Yes. Because our small business loan and cash advance programs are based on your business’ sales history rather than your personal credit history, a low credit score will not prevent you from acquiring the cash you need.
Q. What can the funds provided by EPS FUNDING be used for?
A. Whatever your business needs! Unlike a traditional bank loan where the bank dictates what the loan can and cannot be used for, OUR merchant cash advance or small business loan can be used however you see fit for your business. COMMERCIAL CAPITAL WORLDWIDE FUNDING, INC. believes that as a business owner, you know your business better than anyone and therefore know the best place to use the money. Some common uses for our funding include paying seasonal expenses, meeting payroll expectations, remodeling your existing location or investing in a new location, purchasing inventory and equipment, developing an advertising and marketing campaign, creating an e-commerce website and hiring or training additional staff. Since OUR program will typically provide you with working capital much faster than a traditional bank loan, some business owners turn to our program to pay for emergency expenses (i.e., when you are hit with an unexpected tax liability, fine, or bill).
Q. How do I know which of COMMERCIAL CAPITAL WORLDWIDE FUNDING’S products is right for me?
A. If you need funds and process credit card payments regularly, turn to our merchant cash advance programs. For funding to purchase needed stock from your suppliers, look to our Inventory Purchasing Program. When you need working capital and don’t process credit card payments (or they make up a low volume of your sales) try our small business loan programs. For more established businesses that have a strong credit score (above 640) and solid sales history, look into our Platinum Loan and Platinum Cash Advance offerings. If you don’t qualify for any of these programs for whatever reason, contact us about a potential Trial Advance.
Q. What is a merchant cash advance?
A. A merchant cash advance is a business cash advance program that provides businesses with a lump sum of capital by purchasing a set amount of their future credit card sales. Unlike a traditional bank loan, OUR cash advance programs don’t require out of pocket costs, collateral or personal guarantees. Additionally, we replace the fixed monthly payment system with adjusting installments, deducting a small set percentage from your credit card/debit card sales until the cash advance is paid in full. This allows businesses the flexibility to make lower payments during periods when cash flow is lower.
Q. How is a merchant cash advance different from a traditional business loan?
A. A merchant cash advance is not a loan product, but rather a purchase of future credit/debit card receivables. A merchant cash advance is also different from a traditional business loan in the following ways:
· Time: Your application may be approved in as quickly as 24 to 48 hours and you may be funded in as little a seven days after you application is approved. On the other hand, with a traditional business loan it can take an average of three to five months to receive your funding.
· Simple Applications: The application process for THE Commercial Capital Worldwide Funding, Inc., merchant cash advance is fast and simple whereas the application process for traditional bank loans are typically time-consuming, complicated and involve endless stacks of paperwork. Additionally, traditional bank loans usually require applicants to submit a written business plan with their application.
· Flexibility of Funding: A merchant cash advance offers payback options adjusted to your business’ unique monthly cash flow. This allows businesses the flexibility to make lower payments during slow months.
· Funding Use Restrictions: Unlike many traditional bank loans, our merchant cash advance does not place restrictions on the use of the funding. You are free to use the funding received from your merchant cash advance as you see fit—after all, no one knows your business and its needs like you do.
· Collateral: Unlike the majority of traditional bank loans, our merchant cash advance does not require personal collateral or a personal guarantee to secure funding.
· Credit Rating: Traditional bank loans typically require near perfect credit. On the other hand, an unsecured merchant cash advance is based on your future credit card/debit card sales rather than your credit score. As such, a bad credit score alone will not disqualify you from receiving our merchant cash advance. In fact, many people who are turned down from a traditional bank loan due to damaged credit, qualify to receive funding through Commercial Capital Worldwide FUNDING’S merchant cash advance program.
Q. How does a business pay back their merchant cash advance?
A. Unlike most traditional bank loans, there are no fixed monthly payments with a merchant cash advance. Commercial Capital Worldwide FUNDING receives a small fixed percentage of your credit/debit card sales that gets automatically deducted daily. This allows businesses the flexibility to make lower payments during slow months. Visit our Contact Us page to speak to a representative directly about payment specifics for your business.
Q. What types of businesses are eligible to apply for a cash advance?
A. Any business that meets the following requirements is qualified to apply for a Merchant Cash Advance:
· You must process at least $ 2,500 a month in credit card sales for at least 60 days.
· You must process credit cards at least 12 days out of each month.
· You must be current with your landlord.
· You must have at least 12 months left on your lease if you are renting your business location.
· You cannot have any open bankruptcies in the last 12 months.
Q. What are the advantages of Merchant Cash Advance?
A. This type of funding provides capital quickly at a time when a small business might need it to complete a deal, pay an unexpected bill, or simply to have working capital on hand.
1. There are no fixed monthly payments. Rather, a percentage of future credit card receipts are given to the EPS firm until the amount of money provided in advance is repaid.
2. Payment schedules are tied to the success of the merchant's sales, rather than a calendar's timetable. Thus, payments fluctuate based on the borrower's success. This is particularly helpful to retailers and other small businesses that experience seasonal ebbs and flows
· Approvals and funding happen rapidly -- often completed in a few days, as opposed to the weeks it can take for a traditional small business loans from banks to be granted.
· Large sums of money can be made available quickly. Commercial Capital Worldwide Funding amounts can be as small as $ 2,500 and as large as $ 1,000,000.
· Credit scores take less importance as our program base their decisions on current operations and upcoming sales projections.
Q. What does it work?
A. Essentially, a small business owner enters into a sales agreement in which he/she sells a portion of the business's future daily credit card receipts in exchange for immediate cash infusion. Our is buying a fixed percentage of a merchant's future credit card revenues at a discount. The typical payback period is between 6 and 12 months -- depending on the fortunes of the merchant.
Q. How is repayment made?
A. There are typically three ways to repay: A percentage is taken off each transaction at the credit card processing stage. Each time a business owner makes a credit card sale, a previously an agreed-upon percentage of the transaction is automatically forwarded to the Commercial Capital Worldwide Funding, Inc. provider.
Q. How is repayment made?
A. There are typically three ways to repay: A percentage is taken off each transaction at the credit card processing stage. Each time a business owner makes a credit card sale, a previously an agreed-upon percentage of the transaction is automatically forwarded to the Commercial Capital Worldwide Funding provider.
Q. What can Merchant Cash and Capital do for my small business?
A. We offer you a way to improve your small business for the future giving you access to working capital today. It is not a bank loan or, small business loan so you-are-more-likely-to-be-approved.
Q. How-can-I-use-the-cash?
A. You may use the cash any way you see fit; expansion, inventory, marketing, cash flow, payroll, taxes, renovation and many other needs.
Q. How-does-Merchant-Cash-Advance-work?
A. The funding process is simple. COMMERCIAL CAPITAL WORLDWIDE FUNDING purchases your future credit card transactions and advances that money to you. After you have your merchant cash advance, we will deduct a small fixed percentage from your daily credit card sales until the advance is made whole.
Q. Will I receive the same low rates as my current credit card processor?
A. The funding process works through your credit card terminal so we may need to switch you over to one of our preferred credit card processors. We work with an outstanding organization that will match or may beat your current rates, and will make the transitions virtually seamless.
Q. Is a merchant cash advance the same as a small business-loan?
A. No, a merchant cash advance is not a small business loan or a bank loan. We require minimal documentation, no interest rates, and funding in as little as 72 hours. Since a merchant cash advance is not based on credit, you will most likely have an easier chance of being approved.
Q. What-types-of-business-qualify?
A. Commercial Capital Worldwide Funding, Inc. works with service, restaurant, and retail businesses.
Q. Who can answer my questions, or help me start the funding process?
A. You can reach our Commercial Capital Worldwide Funding’s representative at 352-553-9870 from 9am-6pm EST, Monday-Friday, fill out our Contact Form or you can email us at kwikcashsolutions@gmail.com.
Q. Is this like a bank loan where I have fixed fees I have-to-pay-every-month?
A. There are no fixed payments and no fixed term time frame for repayment of the business cash advance. The only fixed amount is the percentage of daily revenues that the merchant agrees on to pay back advance and the factor rate that-is-agreed-on.
Q. What documents will the merchant have to submit-to-complete-underwriting-requirements?
A. 4 most recent merchant processing statements. 4 most recent bank statements (All pages-originals only -no internet copies accepted) Note: If the merchant's business is seasonal they must provide 12 months of past credit card statements and bank statements. Copy of Lease (front page & signature page and or a signed lease extension letter if current lease has expired). Copy of Drivers-License. Copy of voided check for the business account where the money-will-be-deposited-and-ACH'd.
Q. Is-this-a-bank-loan?
A. This is not a bank loan. Our program purchases future Master Card and Visa processing revenues and advances that money the merchant so they can-use-it-now.
Q. Do I have to purchase new equipment to accept your cash advance?
A. Typically, no. Most merchants (somewhere around 95%-97% of merchants can accept our download of our software in the terminal that they already own.
Q. How can I speed up my cash advance approval?
A. You may do the following: Prepare four (4) months of most recent Visa/Master Card processing statements and four (4) months of most recent complete bank statements (originals only, not printed from the internet) our funding specialist will speak with you about where to send them-when-he-calls-you-back.
Q. Can a merchant accept two cash advances at the time from two separate-companies?
A. The original cash advance will be paid off by the new cash advance. The merchant will receive all remaining funds after the first cash advance is paid off.
Q. What if I have a terminal that is locked up by my current processor?
A. If the merchant has a proprietary terminal, funding specialists will speak with-merchants-about-other-options.
Q. What-is-a-proprietary-terminal?
A. Proprietary terminals are lockout terminals and are sold by some processors in order to prevent competitors from presenting competitive offers for merchants to process credit cards with their competitors.
Q. Does the merchant have to process with our processor in order to receive a cash advance?
A. Typically yes. We match your current rates and fees of your current processor.
Q. How much will a merchant cash advance cost?
A. Each merchant's pricing is specific to their financial scenario. The following information is used to determine pricing. The amount of the cash advance the merchant qualifies for versus the amount advanced to merchant. The projected time of use of funds before full re-payment. Additional factors including but, not limited to the full underwriting review of documents submitted for consideration.
Q. What are the ranges of cost I should expect to pay normally?
A. All pricing is specific to each merchant's financial scenario and is pre-determined by company underwriting guidelines. For a more specific answer you can have a no cost consultation with one of our funding specialist.
Q. How is the merchants pay back of the cash advance amount-calculated?
A. Our underwriting department reviews the documents we require in order to determine how much cash will be advanced. We then offer options to the merchant so they can decide which offering fits best with their business needs.
Q. Will the merchant have to pay an early termination fee if they have a contract with the current processor?
A. "If" merchant has an early termination fee, yes they will have to pay it.
Q. Will Commercial Capital Worldwide Funding cover the cost of the early termination fee?
A. Our corporation does not cover merchant's cost to end the other company's contract. The upside is that the early termination amounts are usually so small that they don't ever usually stop merchants who see the value of using the cash advance to help their business grow.
Q. What if the merchant has bad credit?
A. Our funding solution is built to provide assistance to merchants who process credit cards in their business. A poor credit rating, including delinquencies alone will not determine the approval or decline of a cash advance. We fund deals with very low fico scores.
Q. Is-there-any-personal-recourse?
A. T here is no personal recourse. We do not seek repayment from you personally if you cannot pay back the advance. That being said we take care to make smart underwriting decisions before we approve merchants. We have a very low rate of merchants-who-default.
Q. Are many merchants turn downed for our Cash Advance program.
A. We have a very high approval ratio (90%). Our underwriting requirements assist us in making win-win scenarios for merchants and our funding solution program.
Q. How much of a cash advance can a merchant receive?
A. Merchants can receive up to 150% of their average Master Card and Visa monthly-processing-volume.
Q. Does the merchant have to take the full amount that they-qualify-for?
A. No, merchants are not required to take the full amount that they qualify for. Merchants are free to decide how much they want to use.
Q. Is Commercial Capital Worldwide Funding, Inc. providing the cash or is another company providing-the-cash?
A. Our company is the direct funder. We use merchant processors to split the funds between the merchant and the cash advance company.
Q. Can merchant take more money before they have paid off entire-cash-advance?
A. Merchants may qualify for another cash advance once they have paid back typically between 50%-60% of outstanding business cash advance.
Q. How many cash advances can I accept in a 30 day period?
A. Merchants will not qualify to receive more than two cash advances in any 30-day-period.
Q. Is-Commercial Capital Worldwide Funding-a-public-company?
A. No,-our company-is-still-privately-held.
Q. What is the difference in processing with our processor and-the-company-you-are-with?
A. We believe aside from the technology which, by the way, happens to be world class and includes redundant operating systems that prevent us from having a service interruption. We believe that it is our customer service philosophy that makes our processor different. We believe that we are a customer service company that provides-merchant-cash-advances.
Q. Why do you need to see my financial information?
A. Providing cash to any customer without the benefit of reviewing their financial history would be too risky business. I am sure you understand. We make money when we provide cash to merchants. Imagine how fast we would be out of business if we did not check the background of the companies we provide cash to. Finance solution companies the world over ask for and are provided merchant's financial information in order to evaluate whether or not, based on underwriting requirements, if providing money to the particular merchant is a good business decision. We are no different.
Q. How do I get started?
A. It’s simple. call 352-553-9870 and we’ll walk you through the process today!
Q. What can a cash advance from Commercial Capital Worldwide Funding, Inc. do for my business?
A. 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.
Q. How can I use the cash?
A. 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 add a new location. Better still, maybe you’d like to seize an opportunity in your marketplace before a competitor does.
Q. How does it work?
A. The funding process is simple. Commercial Capital Worldwide Funding has a partnership with ., a billion dollars company. Our company purchases your future credit card transactions and advances that money to you. After you receive your cash, the company will deduct a small, agreed upon and fixed percentage of your daily credit cards sales until the advance is paid in full. You’ll never have to write a check or worry about late payments.
Q. Will I qualify?
A. If you’ve been in business for over a year and process at least $ 2,500 in credit card sales each month, you are well on your way to approval.
Q. How long will I have to wait to find out if I have been approved for my cash advance?
A. 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.
Q. How much can I qualify for?
A. Your monthly credit card volume will qualify you for $2,500 to $1,00,0000. The amount of receipts purchased is determined by your average Visa/MasterCard volume over a 90-120 day period.
Q. How soon can I have the cash?
A. After a complete contract is submitted and approved, funding can happen in as little as 3 business days.
Q. How much can I get from a merchant cash advance?
A. The amount you get from a merchant cash advance depends on how much in credit or debit card sales you process each month. The bigger you are, the larger the available advance. Some business cash advances reportedly go as high as $1 million, but typical arrangements are for less than $200,000.
Q. How long does it take?
A. From the time you apply for a merchant cash advance, it takes less than a week, sometimes less than 48 hours, for you to get the cash, assuming you’re approved.
Q. What do I have to put up for collateral?
A. Merchant cash advances aren’t loans, so you don’t have to put up any collateral. Instead you agree to sell a portion of your future receivables in exchange for the cash advance.
Q. How long must I be in business to get a merchant cash advance?
A. Requirements vary among business cash advance providers, but you must show a healthy track record of debit and credit card transactions for at least a few months.
Q. What are the downsides?
A. Merchant cash advances tend to be more expensive than bank loans and traditional credit lines.
Q. What if my business fails and I haven’t paid back the merchant cash advance?
A. You have no obligation to repay the cash advance if your business fails. When purchasing your future receivables, the provider assumes the risk that you could go out of business. But you must follow the terms of the contract. For instance, you can’t encourage customers to pay with cash instead of credit.
Q. Who is Commercial Capital Worldwide FUNDING?
A. Commercial Capital Worldwide Funding, Inc. was founded in 1995 and provides working capital solutions to small businesses. Commercial Capital Worldwide FUNDING offers three main alternative financing programs. In addition to our original offering, the merchant cash advance, we also now offer small business loans and an inventory purchasing program.
Q. How fast can I receive funding?
A. With a merchant cash advance or a small business loan from Commercial Capital Worldwide Funding, Inc. your application can be reviewed in as little as 24 hours. Once approved, you will typically receive funding within 7 to 10 days. If you choose the traditional bank loan route, you may have to wait several months to receive your money. As such, when you need immediate working capital for your business, COMMERCIAL CAPITAL WORLDWIDE FUNDING'S fast and flexible programs have a clear advantage over a complicated and slow traditional bank loan.
Q. Do I need a business plan to obtain working capital through EPS FUNDING?
A. No. One of the many advantages of OUR FUNDING program over a traditional bank loan is that COMMERCIAL CAPITAL WORLDWIDE FUNDING does not require a business owner to provide a business plan in order to receive funding. On the other hand, the majority of traditional lenders require applicants to provide a written business plan that describes the nature of the business, target market, nature of competition, marketing plan, and list of likely expenses. They often also require financial models and documents such as a projected cash flow statement, balance sheet and income statement.
Q. Can I qualify for funding if I have bad credit?
A. Yes. Because our small business loan and cash advance programs are based on your business’ sales history rather than your personal credit history, a low credit score will not prevent you from acquiring the cash you need.
Q. What can the funds provided by EPS FUNDING be used for?
A. Whatever your business needs! Unlike a traditional bank loan where the bank dictates what the loan can and cannot be used for, OUR merchant cash advance or small business loan can be used however you see fit for your business. COMMERCIAL CAPITAL WORLDWIDE FUNDING, INC. believes that as a business owner, you know your business better than anyone and therefore know the best place to use the money. Some common uses for our funding include paying seasonal expenses, meeting payroll expectations, remodeling your existing location or investing in a new location, purchasing inventory and equipment, developing an advertising and marketing campaign, creating an e-commerce website and hiring or training additional staff. Since OUR program will typically provide you with working capital much faster than a traditional bank loan, some business owners turn to our program to pay for emergency expenses (i.e., when you are hit with an unexpected tax liability, fine, or bill).
Q. How do I know which of COMMERCIAL CAPITAL WORLDWIDE FUNDING’S products is right for me?
A. If you need funds and process credit card payments regularly, turn to our merchant cash advance programs. For funding to purchase needed stock from your suppliers, look to our Inventory Purchasing Program. When you need working capital and don’t process credit card payments (or they make up a low volume of your sales) try our small business loan programs. For more established businesses that have a strong credit score (above 640) and solid sales history, look into our Platinum Loan and Platinum Cash Advance offerings. If you don’t qualify for any of these programs for whatever reason, contact us about a potential Trial Advance.
Q. What is a merchant cash advance?
A. A merchant cash advance is a business cash advance program that provides businesses with a lump sum of capital by purchasing a set amount of their future credit card sales. Unlike a traditional bank loan, OUR cash advance programs don’t require out of pocket costs, collateral or personal guarantees. Additionally, we replace the fixed monthly payment system with adjusting installments, deducting a small set percentage from your credit card/debit card sales until the cash advance is paid in full. This allows businesses the flexibility to make lower payments during periods when cash flow is lower.
Q. How is a merchant cash advance different from a traditional business loan?
A. A merchant cash advance is not a loan product, but rather a purchase of future credit/debit card receivables. A merchant cash advance is also different from a traditional business loan in the following ways:
· Time: Your application may be approved in as quickly as 24 to 48 hours and you may be funded in as little a seven days after you application is approved. On the other hand, with a traditional business loan it can take an average of three to five months to receive your funding.
· Simple Applications: The application process for THE Commercial Capital Worldwide Funding, Inc., merchant cash advance is fast and simple whereas the application process for traditional bank loans are typically time-consuming, complicated and involve endless stacks of paperwork. Additionally, traditional bank loans usually require applicants to submit a written business plan with their application.
· Flexibility of Funding: A merchant cash advance offers payback options adjusted to your business’ unique monthly cash flow. This allows businesses the flexibility to make lower payments during slow months.
· Funding Use Restrictions: Unlike many traditional bank loans, our merchant cash advance does not place restrictions on the use of the funding. You are free to use the funding received from your merchant cash advance as you see fit—after all, no one knows your business and its needs like you do.
· Collateral: Unlike the majority of traditional bank loans, our merchant cash advance does not require personal collateral or a personal guarantee to secure funding.
· Credit Rating: Traditional bank loans typically require near perfect credit. On the other hand, an unsecured merchant cash advance is based on your future credit card/debit card sales rather than your credit score. As such, a bad credit score alone will not disqualify you from receiving our merchant cash advance. In fact, many people who are turned down from a traditional bank loan due to damaged credit, qualify to receive funding through Commercial Capital Worldwide FUNDING’S merchant cash advance program.
Q. How does a business pay back their merchant cash advance?
A. Unlike most traditional bank loans, there are no fixed monthly payments with a merchant cash advance. Commercial Capital Worldwide FUNDING receives a small fixed percentage of your credit/debit card sales that gets automatically deducted daily. This allows businesses the flexibility to make lower payments during slow months. Visit our Contact Us page to speak to a representative directly about payment specifics for your business.
Q. What types of businesses are eligible to apply for a cash advance?
A. Any business that meets the following requirements is qualified to apply for a Merchant Cash Advance:
· You must process at least $ 2,500 a month in credit card sales for at least 60 days.
· You must process credit cards at least 12 days out of each month.
· You must be current with your landlord.
· You must have at least 12 months left on your lease if you are renting your business location.
· You cannot have any open bankruptcies in the last 12 months.
Q. What are the advantages of Merchant Cash Advance?
A. This type of funding provides capital quickly at a time when a small business might need it to complete a deal, pay an unexpected bill, or simply to have working capital on hand.
1. There are no fixed monthly payments. Rather, a percentage of future credit card receipts are given to the EPS firm until the amount of money provided in advance is repaid.
2. Payment schedules are tied to the success of the merchant's sales, rather than a calendar's timetable. Thus, payments fluctuate based on the borrower's success. This is particularly helpful to retailers and other small businesses that experience seasonal ebbs and flows
· Approvals and funding happen rapidly -- often completed in a few days, as opposed to the weeks it can take for a traditional small business loans from banks to be granted.
· Large sums of money can be made available quickly. Commercial Capital Worldwide Funding amounts can be as small as $ 2,500 and as large as $ 1,000,000.
· Credit scores take less importance as our program base their decisions on current operations and upcoming sales projections.
Q. What does it work?
A. Essentially, a small business owner enters into a sales agreement in which he/she sells a portion of the business's future daily credit card receipts in exchange for immediate cash infusion. Our is buying a fixed percentage of a merchant's future credit card revenues at a discount. The typical payback period is between 6 and 12 months -- depending on the fortunes of the merchant.
Q. How is repayment made?
A. There are typically three ways to repay: A percentage is taken off each transaction at the credit card processing stage. Each time a business owner makes a credit card sale, a previously an agreed-upon percentage of the transaction is automatically forwarded to the Commercial Capital Worldwide Funding, Inc. provider.
Q. How is repayment made?
A. There are typically three ways to repay: A percentage is taken off each transaction at the credit card processing stage. Each time a business owner makes a credit card sale, a previously an agreed-upon percentage of the transaction is automatically forwarded to the Commercial Capital Worldwide Funding provider.
Q. What can Merchant Cash and Capital do for my small business?
A. We offer you a way to improve your small business for the future giving you access to working capital today. It is not a bank loan or, small business loan so you-are-more-likely-to-be-approved.
Q. How-can-I-use-the-cash?
A. You may use the cash any way you see fit; expansion, inventory, marketing, cash flow, payroll, taxes, renovation and many other needs.
Q. How-does-Merchant-Cash-Advance-work?
A. The funding process is simple. COMMERCIAL CAPITAL WORLDWIDE FUNDING purchases your future credit card transactions and advances that money to you. After you have your merchant cash advance, we will deduct a small fixed percentage from your daily credit card sales until the advance is made whole.
Q. Will I receive the same low rates as my current credit card processor?
A. The funding process works through your credit card terminal so we may need to switch you over to one of our preferred credit card processors. We work with an outstanding organization that will match or may beat your current rates, and will make the transitions virtually seamless.
Q. Is a merchant cash advance the same as a small business-loan?
A. No, a merchant cash advance is not a small business loan or a bank loan. We require minimal documentation, no interest rates, and funding in as little as 72 hours. Since a merchant cash advance is not based on credit, you will most likely have an easier chance of being approved.
Q. What-types-of-business-qualify?
A. Commercial Capital Worldwide Funding, Inc. works with service, restaurant, and retail businesses.
Q. Who can answer my questions, or help me start the funding process?
A. You can reach our Commercial Capital Worldwide Funding’s representative at 352-553-9870 from 9am-6pm EST, Monday-Friday, fill out our Contact Form or you can email us at kwikcashsolutions@gmail.com.
Q. Is this like a bank loan where I have fixed fees I have-to-pay-every-month?
A. There are no fixed payments and no fixed term time frame for repayment of the business cash advance. The only fixed amount is the percentage of daily revenues that the merchant agrees on to pay back advance and the factor rate that-is-agreed-on.
Q. What documents will the merchant have to submit-to-complete-underwriting-requirements?
A. 4 most recent merchant processing statements. 4 most recent bank statements (All pages-originals only -no internet copies accepted) Note: If the merchant's business is seasonal they must provide 12 months of past credit card statements and bank statements. Copy of Lease (front page & signature page and or a signed lease extension letter if current lease has expired). Copy of Drivers-License. Copy of voided check for the business account where the money-will-be-deposited-and-ACH'd.
Q. Is-this-a-bank-loan?
A. This is not a bank loan. Our program purchases future Master Card and Visa processing revenues and advances that money the merchant so they can-use-it-now.
Q. Do I have to purchase new equipment to accept your cash advance?
A. Typically, no. Most merchants (somewhere around 95%-97% of merchants can accept our download of our software in the terminal that they already own.
Q. How can I speed up my cash advance approval?
A. You may do the following: Prepare four (4) months of most recent Visa/Master Card processing statements and four (4) months of most recent complete bank statements (originals only, not printed from the internet) our funding specialist will speak with you about where to send them-when-he-calls-you-back.
Q. Can a merchant accept two cash advances at the time from two separate-companies?
A. The original cash advance will be paid off by the new cash advance. The merchant will receive all remaining funds after the first cash advance is paid off.
Q. What if I have a terminal that is locked up by my current processor?
A. If the merchant has a proprietary terminal, funding specialists will speak with-merchants-about-other-options.
Q. What-is-a-proprietary-terminal?
A. Proprietary terminals are lockout terminals and are sold by some processors in order to prevent competitors from presenting competitive offers for merchants to process credit cards with their competitors.
Q. Does the merchant have to process with our processor in order to receive a cash advance?
A. Typically yes. We match your current rates and fees of your current processor.
Q. How much will a merchant cash advance cost?
A. Each merchant's pricing is specific to their financial scenario. The following information is used to determine pricing. The amount of the cash advance the merchant qualifies for versus the amount advanced to merchant. The projected time of use of funds before full re-payment. Additional factors including but, not limited to the full underwriting review of documents submitted for consideration.
Q. What are the ranges of cost I should expect to pay normally?
A. All pricing is specific to each merchant's financial scenario and is pre-determined by company underwriting guidelines. For a more specific answer you can have a no cost consultation with one of our funding specialist.
Q. How is the merchants pay back of the cash advance amount-calculated?
A. Our underwriting department reviews the documents we require in order to determine how much cash will be advanced. We then offer options to the merchant so they can decide which offering fits best with their business needs.
Q. Will the merchant have to pay an early termination fee if they have a contract with the current processor?
A. "If" merchant has an early termination fee, yes they will have to pay it.
Q. Will Commercial Capital Worldwide Funding cover the cost of the early termination fee?
A. Our corporation does not cover merchant's cost to end the other company's contract. The upside is that the early termination amounts are usually so small that they don't ever usually stop merchants who see the value of using the cash advance to help their business grow.
Q. What if the merchant has bad credit?
A. Our funding solution is built to provide assistance to merchants who process credit cards in their business. A poor credit rating, including delinquencies alone will not determine the approval or decline of a cash advance. We fund deals with very low fico scores.
Q. Is-there-any-personal-recourse?
A. T here is no personal recourse. We do not seek repayment from you personally if you cannot pay back the advance. That being said we take care to make smart underwriting decisions before we approve merchants. We have a very low rate of merchants-who-default.
Q. Are many merchants turn downed for our Cash Advance program.
A. We have a very high approval ratio (90%). Our underwriting requirements assist us in making win-win scenarios for merchants and our funding solution program.
Q. How much of a cash advance can a merchant receive?
A. Merchants can receive up to 150% of their average Master Card and Visa monthly-processing-volume.
Q. Does the merchant have to take the full amount that they-qualify-for?
A. No, merchants are not required to take the full amount that they qualify for. Merchants are free to decide how much they want to use.
Q. Is Commercial Capital Worldwide Funding, Inc. providing the cash or is another company providing-the-cash?
A. Our company is the direct funder. We use merchant processors to split the funds between the merchant and the cash advance company.
Q. Can merchant take more money before they have paid off entire-cash-advance?
A. Merchants may qualify for another cash advance once they have paid back typically between 50%-60% of outstanding business cash advance.
Q. How many cash advances can I accept in a 30 day period?
A. Merchants will not qualify to receive more than two cash advances in any 30-day-period.
Q. Is-Commercial Capital Worldwide Funding-a-public-company?
A. No,-our company-is-still-privately-held.
Q. What is the difference in processing with our processor and-the-company-you-are-with?
A. We believe aside from the technology which, by the way, happens to be world class and includes redundant operating systems that prevent us from having a service interruption. We believe that it is our customer service philosophy that makes our processor different. We believe that we are a customer service company that provides-merchant-cash-advances.
Q. Why do you need to see my financial information?
A. Providing cash to any customer without the benefit of reviewing their financial history would be too risky business. I am sure you understand. We make money when we provide cash to merchants. Imagine how fast we would be out of business if we did not check the background of the companies we provide cash to. Finance solution companies the world over ask for and are provided merchant's financial information in order to evaluate whether or not, based on underwriting requirements, if providing money to the particular merchant is a good business decision. We are no different.
Q. How do I get started?
A. It’s simple. call 352-553-9870 and we’ll walk you through the process today!
Q. What can a cash advance from Commercial Capital Worldwide Funding, Inc. do for my business?
A. 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.
Q. How can I use the cash?
A. 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 add a new location. Better still, maybe you’d like to seize an opportunity in your marketplace before a competitor does.
Q. How does it work?
A. The funding process is simple. Commercial Capital Worldwide Funding has a partnership with ., a billion dollars company. Our company purchases your future credit card transactions and advances that money to you. After you receive your cash, the company will deduct a small, agreed upon and fixed percentage of your daily credit cards sales until the advance is paid in full. You’ll never have to write a check or worry about late payments.
Q. Will I qualify?
A. If you’ve been in business for over a year and process at least $ 2,500 in credit card sales each month, you are well on your way to approval.
Q. How long will I have to wait to find out if I have been approved for my cash advance?
A. 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.
Q. How much can I qualify for?
A. Your monthly credit card volume will qualify you for $2,500 to $1,00,0000. The amount of receipts purchased is determined by your average Visa/MasterCard volume over a 90-120 day period.
Q. How soon can I have the cash?
A. After a complete contract is submitted and approved, funding can happen in as little as 3 business days.