FAQ's -

Q. How does the Merchant Cash Advance program work?
A. Our program offers a fast and convenient way for business owners to get the cash they need to run their company. It is not a business loan, which means no checks to write, no fixed monthly payments, and none of the restrictions/excessive documentation typically associated with a bank loan. Approval rates are much higher than a bank loan and funds are typically wired to your business account within 10 days. Repayment is based on a small fixed percentage of your future Visa and MasterCard receipts until the predetermined payback amount is satisfied. We get paid as you get paid thus helping you manage the cash flow of your business, especially during slower months.

Q. How can I find out how much my business qualifies for?
A. Our basic qualifications are that you must have a physical location, be in business for at least 1 year, process at least $2,500/month of Visa/MasterCard receivables and have at least 1 year left on your lease. To find out how much you qualify for, simply complete the online application and provide some basic information. You will receive a free, no obligation quote within 24 hours from an Elegant Funding Account Executive who will review your funding options.

Q. What kind of discount do I get if I pay early?
A. This is not a loan. Therefore there is no prepayment penalty, no fixed payment schedule, no maturity dates, and no minimum monthly payments. At any time, you can choose to settle the advance by paying the remaining balance in full.

Q. How much does it cost to apply for Merchant Cash Advance?
A. Elegant Funding offers a no cost/no obligation quote. There are no up-front fees and we do not charge for "out of pocket" expenses such as: credit reports, D&B reports, overnight mailing costs, etc.

Q. How much will a Merchant Cash Advance cost?
A. Each business is unique and therefore receives a customized quote based upon its specific needs and situation. Several factors influence the size and cost of the Merchant Cash Advance, including: business size, industry, processing history, volume, ticket size and various other factors. To find out how much you qualify for and the associated cost, simply apply now for your no obligation quote.

Q. Do I have to pay any fees to get a Merchant Cash Advance?
A. Elegant Funding does not charge application fees or points and you can receive a free, no obligation quote by completing our simple online application.

Q. Will bad credit affect my Merchant Cash Advance request?
A. A Merchant Cash Advance is not solely based on your credit score; therefore it is not necessary for you to have good to excellent credit to receive an advance.

Q. How often do I have to make payments?
A. We get paid as you get paid. You never have to write a check. Our automated process is designed to work with our credit card processor to collect a small percentage of your daily Visa and Mastercard receivables until your Merchant Cash Advance is settled.

Q. How easy is it to get approved by Elegant Funding?
A. Our proprietary approval process allows Elegant Funding clients to enjoy high approval rates and funding within 10 days, many times within 5 days.
Qualification is easy:
1. Have you been in business for at least 1 year?
2. Is your monthly Visa/MasterCard volume at least $2,500?
3. Are all prior bankruptcies resolved?
4. Do you have at least one year remaining on your current retail lease?
If you answered yes to these questions then you should apply.

Q. I am already with another financing company providing a similar financing, can you replace that arrangement and offer me more money?
A. Contact us to find out specifically how much we can offer you. We often offer larger advances than our competitors and will pay off your existing advance if it is in your best interest. Call us today to find out how much you are qualified to receive.

Q. Does Elegant Funding require a personal guarantee?
A. Not always.  Elegant Funding is the direct lender and obviously wants good partnerships with our clients.  With or without a personal guarantee, individuals may be liable in cases of fraud, misrepresentation and as further detailed in the contract.

Q. Can the daily payment percentage be changed after the account has been funded?
A. No. We maintain the percentage until the advanced is paid in full.

Q. I need a longer term than 6 months. Do you offer such terms?
A. Yes. We offer customized funding programs based on your needs.

Q. What if I already have a business loan?
A. Our product is a Merchant Cash Advance, not a business loan. As long as you meet our requirements, we can still provide you with immediate cash without affecting your other obligations.

Q. Who do I contact with questions about my account?
A. Elegant Funding Customer Service is available to assist you:
Monday - Friday: 9:00 am to 6:00 pm PST
Phone: 714.588.0406
You can also email us at sales@elegantfunds.com with any questions.