When we provide you with small business financing, we purchase a percentage of your future sales and advance your capital up front. After you receive your advance, we deduct a small fixed percentage from your daily sales until the full amount is paid back. This means that you will not be overburdened with payments when business is slow, and there is no fixed repayment term.
STEP 1 – The Boost Business Funding team of financial specialists consult with you and your company to identify your capital needs.
STEP 2 – A small percentage of your total sales is taken as repayment. It doesn’t matter if it takes you 5 weeks, 5 months or 1 year to pay us back because you still pay back the same amount.
STEP 3 – Once you are fully paid off, you go back to receiving 100% of your sales. Everything will go back to normal except you now have increased cash flow and a more valuable and profitable business
* Even if your business does not process credit cards, you are still eligible to qualify for small business financing, so don’t hesitate to apply.
Instead of underwriting and basing the cash advance and driving the payback off of the credit card sales, they use the total gross income shown in the deposits in the business bank account, and then a ACH mechanism is utilized to drive the payback.
There are more underwriting requirements with this kind of program. Since it is a beta test product, the business cash advance timeframe is normally shorter. However, since we are opening your business up to capital based off of your gross deposits we will be able to become more aggressive with our approvals.
- 95% of applicants approved
- Get approved in 24 hours.
- No Collateral Required
- Receive Funds in Hours
- Credit Processing Not Required
- Bad Credit is not an Issue
- Bankruptcy and Foreclosure Ok
- Does not Appear on Credit Report
- No Restrictions on use of Funds