MERCHANT CASH ADVANCE -

BETTER THAN A BUSINESS LOAN


Merchant 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 merchant 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 merchant cash advance offers a streamlined process that provides a simple one page application and immediate access to unsecured funding from $2,500-$150,000. 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. With an easy, refined application process, quick funding, professional merchant services organization and flexible payment options, the best word to describe our service is: elegant.  All of these features provide you with immediate access to working capital that you can use for any business purpose
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Use the business cash advance for any business purpose, including:

• Purchase Inventory/Seasonal Merchandise

• Purchase/Repair Equipment


• Expansion --------------------------------------------
• Remodel

• Pay off Debt/Taxes


• Emergency Funding

Why Choose Elegant Funding?
1. Deal Direct - Work directly with the funding source. Cut out the middle man and any extra fees or delays associated with a 3rd party broker.
2. Experienced – Elegant Funding has a proven track record for providing small businesses with the capital they need to grow and succeed in today's economy.
3. Broader Funding Range - Our average merchant cash advance is $20,000 but we support requests from $3500 - $150,000.
 
Merchant Cash Advance Rates
A merchant cash advance is an alternative source of financing for small businesses that can't get a bank loan. These merchant cash advance loans usually have some higher interest rates than more conventional loans from banks and other financial institutions. Because banks and traditional lending companies have stricter policies that include credit checks and collateral, they are able to charge lower interest rates. Since fewer businesses can meet their criteria, their approval rate for merchant cash advances are really low. Companies that specialize in merchant cash advances take on a much higher level of risk when loaning money without collateral. To make up for this increased risk, they have to charge higher rates than other lending organizations.
Small businesses can apply for a merchant cash advance when they need fast money to cover unexpected expenses, purchase new equipment or restock inventory. Obtaining a merchant cash advance is quick and easy. The application and approval process can be done in a short amount of time and money can be in the hands of the borrower within a few days. Approval rates are high and many customers, sometimes as many as 85% choose to renew or re-apply for loans in the future.
Elegant Funding understands a small business' need for extra capital. Whether it is needed for an emergency purchase or to meet payroll, the quicker the company gets the cash, the better. We offer a stream-lined application process and approval, sometimes within 24 hours of receiving the application.
 
Legal Issues with Merchant Cash Advances
Companies that offer merchant cash advances give a lump sum of cash as an advance to companies in exchange for a portion of their daily credit card sales, normally 5 - 10%, from each transaction until the obligation is paid. Most cash advance companies work in conjunction with a credit card processing company to expedite the process.
Usury laws set limits on the amount of interest that can be collected on a loan. Loans also have a set date in which the amount borrowed much be paid back. Regarding merchant cash advances, money transfers are considered sales instead of loans to avoid breaking usury laws. Since repayment of the advance is received through the business's daily credit card sales, there is no set payment to be made and no date set for a final pay off. Because the amount repaid each month depends on the amount of credit card sales, the amount of payment may fluctuate from month to month, depending on the success of the business.
Many states don't have a maximum amount of interest to exceed for business to business transactions, so there is little risk of usury law violations. If there is no date established for final payment, it makes it difficult to determine the exact percentage of interest charged. When usury laws do apply, the law states that any amount of interest collected over the state maximum must be returned to the borrower. In states that have implemented a usury cap, companies that charge more than the set amount of interest can by subject to criminal fines and penalties.
Companies that offer merchant cash advances must comply with the same laws that other lending institutions do. The Uniform Commercial Code, the Fair Credit Reporting Act and the USA Patriot Act protect the consumer, as well as businesses, from illegal lending and collection practices. They are also bound by UDAP laws that prevent unfair and deceptive business practices. Cash advance providers must understand and accept the legal risks involved in these types of business transactions.


Elegant Funding Inc…..Putting the pieces together since 1996