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If you’re in a cash crunch, and need money now—look no further! Capital for Merchants advances businesses working capital for their businesses—up to 110 percent of your monthly Visa and MasterCard revenues. In the pizza business, it’s always important to have plenty of operating cash on hand—you can use the money to expand your business, advertise, meet payroll, or even pay your taxes.
Often times, it’s very difficult for restaurants to borrow money from a bank or take out a conventional loan because there’s not much to put up as collateral for money borrowed. According to Rick Kovacs, Vice President of North American Bancard, which Capital for Merchants is a subsidiary of, “We advance money to businesses that currently accept Visa and MasterCard, to help their business grow. One franchisee has opened 8 additional locations using capital from our program and keeps coming back for more advances to fuel his growth. They can use the money in any way within their business that they want to,” he said.
Capital for Merchants can advance money in a matter of days with a very simple, painless, and speedy process. Bank loans can take days if not weeks to get approved for the loan, and if your business is slow or soft, you’re paying back the loan no matter if your incoming funds for the month are high or low. With Capital for Merchants, the advance pay back comes out of your cash flow—straight from your Visa and MasterCard daily deposits. The typical advance payback is between four and six months, with Capital for Merchants taking approximately 20 percent off the top of all Visa and MasterCard daily deposits. “If you did no business that day, there is no pay back that day…we only get paid back when you have daily Visa and MasterCard revenues,” Kovacs said.
The paperwork process is very simple—over the phone. There is a one-page questionnaire that the applicants fill out. Some of the underlying requirements for a cash advance from Capital for Merchants include: the business has to have been accepting Visa and MasterCard for at least six months and has to have at least a year remaining on the lease of your location or own your building. Capital For Merchants has helped countless merchants take their business to the next level. “We will pay up to 110 percent of a business’ monthly Visa and MasterCard volume,” Rick said. And in only five or 10 minutes, you could be on your way to a brighter future within your restaurant, using Capital for Merchants’ cash advance.