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 If yes, Merchant Service Center’s Cash Advance Program can help you, and your merchants
immensely. You now have the ability to advance your merchants up $250,000.00, which
can be used for anything, renovating a current location, purchasing a new location,
stocking inventory, or for emergency situations.
Calculating the Advance Amount is very simple. We are able to advance 30% greater
than your merchant’s average monthly credit card processing volume. Unlike most
other Cash Advance programs, the advance amount isn’t limited to just Visa and MasterCard,
but includes almost all forms of card payments. Including Visa, MasterCard, Amex,
Discover, Pin-Based Debit Transactions, and EBT Transactions.
The application, and initial start-up process is a very easy. It is a one-page application
that is filled in by your merchant. Along, with this application the only other
information we will need would be 4 months previous processing statements. This
application is then faxed to MSC, approved, and the money is wired directly to the
merchant’s bank account. The entire process usually takes 7-10 days until your merchant
has their money.
Payback of the Cash Advance is as easy as the start-up. The merchant will be paying
back the Advance with their daily credit card processing batches, until it is completely
paid off, usually 6-10 months, dependent on the advance amount. The percentage taken
out of the daily batch is usually 20-25%.
Unlike a Bank Loan, the Cash Advance Program doesn’t have an interest rate, or nickel
and dime fees throughout the duration of the advance. The calculation for this is
very simple as well. The total amount your merchant will be paying back is 35% greater
than the advance amount. The amount will not decrease if your merchant pays it back
faster, and it will not increase if it takes longer to pay it back.
FUNDING EXAMPLE
| Monthly Processing Volume |
Advance Amount |
Payback Amount |
= $Cash in your Wallet$ |
| $20,000.00 |
$26,000.00 |
$35,100.00 |
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QUALIFICATIONS
The merchant must have been in business for at least 24 months.The merchant must have a monthly total credit card processing volume that exceeds $1500.00. Lastly, the merchant must not have prior unresolved bankruptcies.
These are the only three criteria the merchant must meet.
You’re probably asking yourself, what’s in this for me? Or, how do I get paid? Our
agents will receive a specific percentage of the advance amount. For more information
on this, and other exciting programs MSC has to offer please
Contact
Merchant Service Center.
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