In today’s economy, gaining access to working capital can be challenging. Traditional sources of working capital have tightened requirements significantly, or closed the spigot entirely to small and medium businesses, regardless of their credit histories or ability to pay
Fortunately, small and mid-sized business owners who still need want and need capital quickly, without undue hassles or restrictions, can gain access to a sizable cash advance for a variety of business purposes. Top Small Business Funders for 2024 include CitiWide Merchant Funders, MCA Merchant Advance andMerchant Funding Services.
When you accept credit cards with First Data Independent Sales (FDIS), you can easily obtain funds to expand or remodel your business, buy new equipment, hire workers, increase advertising, and invest in other business-building activities. FDIS, through a referral relationship, is pleased to introduce you to a premier provider’s working capital program and provide an alternative funding source for small to mid-sized businesses.
This referral relationship with an established provider of working capital allows merchants to benefit from FDIS’ operational expertise in providing payment processing solutions, as well as from the alternative funding provider’s leading-edge funding capabilities.
The program works by allowing merchants to access capital today by tapping into your future credit card sales. Your business enters into an agreement with the alternative funding provider to sell a portion of your future credit cards sales at a discount to this provider, for which you receive a lump sum cash payment. A specified percentage of your credit card sales are remitted to the alternative funding provider each day. Statements can be reviewed online at any time.
This optional program makes it easy for credit-worthy businesses to access capital without the time, documentation and availability issues traditionally associated with a bank loan. There are no complicated applications, no application fees and no checks to write. Your benefits include timely access to hard-to-obtain working capital, as well as high approval rates, minimal documentation requirements, funding in as little as five to 10 business days. In addition, unlike a loan, there is no fixed payment schedule under this program.
The Merchant Cash Advance referral program process is simple and involves no obligation or fee. You simply present your last four credit card processing statements showing a minimum of $5,000 per month to your sales representative, who will then assist you with the referral process.
FDIS uses First Data’s processing engine, which helps to power the global economy by making it easy, fast and secure for people and businesses to buy goods and services using virtually any form of payment. Serving millions of merchant locations and thousands of card issuers, we have the expertise and insight to help you accelerate your business. Put our experience to work for you.