The Cash Advance funding is usually structured to last just 6 months! sometimes 9 months is allowed but the money costs more, often increasing the cost to 1.45 ($10,000 cost $14,500).
What merchants and even some sales agents do not realize is, that the merchants are often paying $3,500 or $4,500 as a fee or interest on $10,000 when they only are able to use the full $10,000 for just a few days, with each and every sale that the merchant makes, which is charged to a customers credit card, a portion of the sale (often 15%-25% of each sale) is split from the sale to repay the cash advance.
So over just 6 months the $10,000 is being rapidly paid back to the Cash Advance provider.
On a $10,000 advance at a cost of $13,500 for 6 months, the Merchant is usually paying back $2,250 each month!
How long did you say the Cash Advance is provided for?
Subscribe to:
Post Comments (Atom)
3 comments:
Your website is awesome, lots of information, and great material. good publishing.
Business Cash Advance
Hmm this is a rocking place, that’s too nice post I loved that!! payday loans cash advance
Very good website. I liked it very much.
Commission Advance
Commission Flow
v
Post a Comment