ATTENTION MERCHANTS!

We offer 2 Options in getting you the money you need

OPTION1

Get a Cash Advance today!

What is a CASH ADVANCE?

A CASH ADVANCE is an advance on money you will collect through future credit card sales at your business

Get money now instead of later!!

Use these funds to

  • Pay off Debts
  • Pay for Business Repairs
  • Purchase Inventory
  • Pay for Remodeling
  • Emergency Funds
  • Help with Repair

Easy requirements with

·          No Personal Guarantees

·         No collateral needed

·        No fixed payment

·             No impact on your ability to qualify for other financing

..

Bank lending rules can be strict which prevent you from accessing funds required to operate your business. Paramount Payment Systems will secure a CASH ADVANCE for your business today.

Contact our Sales Department for pricing

Differences between an MCA and a traditional loan.

  • Easier, Faster and Smarter: No fixed monthly payments
  • No collateral or personal guarantees
  • Less paperwork
  • Better qualifications
  • We can fund within 10 business days

BUSINESS CASH ADVANCE – BETTER THAN A BUSINESS LOAN

Business Cash Advances are Your Best Alternative to Small Business Loans or Unsecured Business Loans.

Qualifying for a small business loan in today’s economy is difficult, but a business cash advance can be an easy alternative. A typical business loan involves many hurdles for a small business owner, including excessive paperwork, a lengthy approval process, low approval rates, collateral and personal guarantees for security, fixed monthly payments, and restrictions related to use of funds.

By comparison, our business cash advance offers a streamlined process that provides a simple one page application and immediate access to unsecured funding from $2,500-$600,000. You will further benefit from high approval rates, minimal credit requirements, and a flexible repayment process that is directly tied to your business’ sales volume. All of these features provide you with immediate access to working capital funds that you can use for any business purpose.

Today’s Economy 

Merchants no longer have the availability of traditional means to get capital

      1. Banks-requirements are to high

      2. Home Equity Loans-values are depleted

      3. Venture Capital-no investments

Merchants are beginning to look for capital as the economy has begun to stabilize.

      1. Utilizing capital to market and approach consumers who previously ate, shopped or frequented competitors who have gone out of business.

      2. Restock/update inventory

      3. Renovate

      4. Purchase bulk inventory at a discount from suppliers

Find out why a small business cash advance is right for you.

If you need working capital for your business fast, small business loans can rarely deliver in time. Even if you are able to secure funding, there can be limitations on how you use that money. As a secured loan, you will also have to provide some type of collateral to back the loan, which increases your risk. Our merchant cash advance program provides unsecured business loans that you pay back over time from a portion of your credit card sales.

FAQ

What is the maximum payback? 11% of gross sales, so you will still have funds coming in while payback the loan.

What is the minimum advance amount? $5,000.00

What is the maximum advance amount? $150,000.00

What is the average advance amount? $23,000.00

Merchant Benefits

    1. No personal guarantees for repayment

    2. No security interest taken in home, business, equipment, or inventory

    3. No points or upfront fees

    4. No fixed monthly payments

    5. No coupons or checks to write

    6. No impact on their ability to qualify for other financing

    7. No business use restrictions on the funding

    8. No hassles - quick application & fast funding

    9. Online merchant statements

    10. No UCC-1 filing

MCA Cost Scenarios

Calculated Scenario: (4 month program)

Merchant Advance = $10,000

Payback Amount = $12,700

($10,000 = 79% of $12,700 thus discount rate is 21%)

Cost of Cash Advance: $2,700 / 120 days = $22.50 per day

Calculated Scenario: (6 month program)

Merchant Advance = $10,000

Payback Amount = $13,800

($10,000 = 72% of $13,800 thus discount rate is 28%)

Cost of Cash Advance: $3,800 / 180 days = $21.00 per day

Calculated Scenario: (8 month program)

Merchant Advance = $10,000

Payback Amount = $14,800

($10,000 = 68% of $14,800 thus discount rate is 32%)

Cost of Cash Advance: $4,800 / 235 days = $20.42 per day

 

Starter Advance Requirements

    1. In business for at least 3 months with 3 months of processing history

    2. Must batch out/deposit > 12 days per month

    3. Must process more than $3,500 per month (we will look at all businesses)

    4. If merchant has tax lien he must be on payment plan

    5. Minimum of 9 months remaining on site lease

    6. Merchant cannot have an existing advance with a competitor

    7. No open bankruptcy

    8. Other requirements may be required on larger advances

OPTION 2

Our Rapid Advance Flexible Loan Program

A unique product that can be offered to higher credit quality merchants that are looking for something more similar to a traditional loan product.

Loan Product Benefits

    1. Less expensive than a standard MCA

    2. Structured with a fixed repayment through a daily ACH (ACH occurs Monday- Friday)

    3. Allows merchants with low merchant processing but high gross volumes to get more capital then on an MCA

      How the Loan Program Works

        1. Minimum loan amount $15,000; Maximum loan amount $150,000.

        2. Repayment is based on total monthly gross revenue, which is verified from the merchants bank statements.

        3. Fixed ACH for repayment. Split funding or lockbox not required.

        4. Max Repay amount = 8% of monthly gross is preferred, maximum is 10% of monthly gross.

        5. A 2% origination fee (of loan amount), 1% on renewals and a $250 processing fee will be charged on all funded loan and high risk loan deals (there are no fees for the Loan with MCA pricing). Both fees will be deducted from the advance amount prior to funding.

        6. Requires a full personal guarantee and UCC-1.

        7. Merchants are eligible for a renewal once they are 70% paid off

      Loan Program Options

      1. Loan – The traditional loan is a lower cost option for merchants that have at least 4 years in business and a FICO score of at least 650.

      2. High Risk Loan – The high risk loan is a lower cost option for merchants that have been in business for at least 2 years and a FICO score of at least 580

      3. Loan with MCA Pricing – The loan with MCA pricing is an ACH option for merchants that would not qualify for a loan due to time in business or low FICO. The pricing is the same as the MCA, however the repayment is a fixed daily ACH

      Loan Program Requirements

      Loan

      High Risk Loan

      Loan w/ MCA Pricing

      Time in Business

      4 years (4 and 6 month loans); 5 years (8 month loan)

      2 years 1 year

      Processing Minimum

      N/A

      N/A

      N/A

      Batching Requirement

      N/A

      N/A

      N/A

      Time Remaining on Lease

      9 Months

      9 Months

      9 Months

      Bankruptcies

      No Open Bankruptcies

      No Open Bankruptcies

      No Open Bankruptcies

      Existing Cash Advance

      Merchant must net 50% of loan

      Merchant must net 50% of loan

      Merchant must net 50% of loan

      Renewal Eligibility

      Eligible at 70% paid off

      Eligible at 70% paid off

      Eligible at 70% paid off

      FICO Requirement

      650

      580

      N/A

      Loan Cost Scenarios

      Calculated Scenario: (4 month program)

      Merchant Advance = $20,000

      Payback Amount = $23,600

      120 days = 80 Payments of $271.26

      Multiplier – 1.18

      Origination Fee – 2% of $20,000 = $400

      Processing Fee - $250

      Calculated Scenario: (6 month program)

      Merchant Advance = $20,000

      Payback Amount = $24,400

      180 days = 120 Payments of $203.33

      Multiplier – 1.22

      Origination Fee – 2% of $20,000 = $400

      Processing Fee - $250

      Calculated Scenario: (8 month program)

      Merchant Advance = $20,000

      Payback Amount = $25,400

      240 days = 157 Payments of $161.78

      Multiplier – 1.27

      Origination Fee – 2% of $20,000 = $400

      Processing Fee - $250

High Risk Loan Pricing Cost Scenarios

Calculated Scenario: (4 month program)

Merchant Advance = $20,000

Payback Amount = $24,600

120 days = 80 Payments of $307.50

Multiplier – 1.23

Origination Fee – 2% of $20,000 = $400

Processing Fee - $250

Calculated Scenario: (6 month program)

Merchant Advance = $20,000

Payback Amount = $25,800

180 days = 120 Payments of $215.00

Multiplier – 1.29

Origination Fee – 2% of $20,000 = $400

Processing Fee - $250

Loan with MCA Pricing Cost Scenarios

Calculated Scenario: (4 month program)

Merchant Advance = $20,000

Payback Amount = $25,400

120 days = 87 Payments of $291.95

Multiplier – 1.27

Calculated Scenario: (6 month program)

Merchant Advance = $20,000

Payback Amount = $27,600

180 days = 131 Payments of $210.69

Multiplier – 1.38

Calculated Scenario: (8 month program)

Merchant Advance = $20,000

Payback Amount = $29,600

240 days = 157 Payments of $188.54

Multiplier – 1.48

***Please note that there is no origination fee or processing fee for the Loan with MCA pricing***

Currently, loans can be offered in most states however, loans cannot be offered in Rhode Island, New Jersey, and Montana.

Certain Restrictions may apply in other states See Prohibited and Restricted listing here

Paramount Payment Systems must be your credit card processor to qualify for this program

To schedule an appointment with a representative and find out how to join our program

CLICK HERE

To start the qualification process for this program we need you to complete application below and provide 3 months of business account

CLICK HERE

 

statements and merchant statements. These can be emailed to consumerfundingsolutions@gmail.com

or faxed to our secure fax number of 866-433-1731. Please include a cover letter.