This Executive Summary will provide the following information:
Five primary reasons to consider obtaining a business cash advance using credit card receivables.
Ten problems to avoid with credit card factoring and credit card processing.
Six primary criteria to qualify for a business cash advance up to $300,000.
5 Reasons for Business Cash Advances
A business cash advance based on credit card receivables is one of the few viable options for reliably obtaining short-term commercial financing
Credit card factoring is available to virtually any business that accepts credit cards in their business transactions
Funds can be obtained very quickly
There is no need for collateral
There should not be any up-front fees or closing costs
10 Problems to Avoid with Credit Card Factoring and Credit Card Processing
As noted below, there are a number of problems to be avoided with credit card processing and credit card factoring programs.
Up-front fees
Closing costs
Financial Statements required regardless of business cash advance amount (Note: larger merchant cash advances can involve additional information such as financials)
Collateral required
Fixed term to pay off the business cash advance
Fixed payments to pay off the business cash advance
High credit scores (680 to 700 or higher) required to qualify
2-3 years or more in business required to qualify
12 to 24 months of documented credit card sales of $10,000 to $25,000 or more required
Maximum business cash advance of $10,000 to $50,000
6 Primary Criteria for a Business Cash Advance up to $300,000
One year in business as restaurant, bar, retail or service business
Business accepts credit cards as a form of payment
Ability to document credit card sales of $4000 or more per month for the last six months
No open tax liens, judgments or bankruptcies
Acceptable personal and business credit (minimum personal credit scores of 500)
If leasing: in good standing with landlord and at least one year remaining on lease
AEX Business Cash Advance Program
It is not necessary to accept ANY of the 10 problems listed above in order to obtain business cash advances based on future credit card sales. AEX Commercial Financing Group has eliminated ALL of these potential problems from the Credit Card Receivables Working Capital Program that it uses for commercial financing clients. Here is an overview of our business cash advance program:
Business cash advances from $5000 to $300,000
No up-front fees or closing costs
No financials required for most situations (larger business cash advances will sometimes require additional information such as financials)
No collateral required
No set term to pay off the business cash advance (although there is a minimum of 90 days)
No fixed payments (as goods and services are purchased, a small percentage of each credit card sale is collected from one of the processing banks)
Easy 2-page application (AEX Commercial Financing Group can fax or email the application for its Credit Card Receivables Working Capital Program to you). This application will be requested only AFTER a discussion with AEX. Please note our advice and policy (provided below) about the use of online business financing applications.
AEX Business Finance Application Policy: A commercial borrower working with AEX Commercial Financing Group will not be requested to submit any application until they have completed a thorough discussion with AEX confirming that business financing is feasible for their unique business situation.
By completing an online
business finance application, business
owners would be submitting confidential business and personal information to a lender before they should. There are numerous business cash advance and commercial loan sites that urge commercial borrowers to "Complete
our easy application!" before a business owner even has a conversation with a potential lender.
AEX Commercial Financing Group STRONGLY advises commercial borrowers NOT to complete an online business financing application.
Contact Information - Working Capital Management Solutions
Stephen Bush
Chief Executive Officer
Phone: (937) 780-4030
bush@aexllc.com
PO Box 353, Leesburg OH 45135-0353 USA
Additional Working Capital Loan Information
Copyright 1995-2008 AEX Commercial Financing Group and Stephen Bush. All rights reserved.