FAQ
- Submit an application using our simple online application form
- We will call to finish your application and request additional documentation
- Typically we can put the money in your business checking account within 24-72 hours of approval
- Monthly gross revenue of $10,000 or more
- Minimum 3 months’ time in business
- A minimum FICO score of 500 for the applying business owner
Every business, situation and application we work with is unique. That being said, there are a number of factors that determine how much funding you will receive. For more information, contact a SFS representative.
You can use your funding for any business purpose. This means any expense that will help you grow and sustain your business. Some examples include:
- Advertising
- Working Capital
- Inventory
- Renovations
- Expansion
- Debt Reduction
- Tax Payments
- Emergency Situations
Credit history is not a deciding factor when approving a merchant cash advance. Unlike a small business loan, you can get approved for and receive funding from a merchant cash advance even if you do not have a perfect credit rating or collateral to offer.
A merchant cash advance is a lump-sum payment to a business in exchange for an agreed-upon percentage of future credit card and/or debit card sales. This means SFS will give your business funding to help grow your business. In return, your business will pay back SFS through an agreed amount of credit card sales.
A traditional loan from a bank or lender has a lengthy process and often times can result in the business being denied any money. A merchant cash advance offers a quick and easy solution for business owners. Not only is there a high approval rate but business owners can receive funding within just a few days of applying. Additionally, a stellar credit history is not required, there are no interest rates and repayment plans are very flexible.
Fortunately the two are unrelated! You have just as good of a chance as ever.
We do our research. We look into the management and reliability of your business, as well as the potential of your business in terms of sales and growth.
Unfortunately no. Purchase order financing applies only for businesses who sell physical products.
Of course! The steps are actually quicker and easier the second time around because you already have an account with our company.
Equipment financing can be a very savvy business move from a financial standpoint. As a business owner, you have the opportunity to pay off the financing over time once your business has gotten off the ground, as opposed to shelling out all of the money upfront.
When borrowing money to finance business equipment, the amount a business can borrow depends on a couple factors. The type of equipment is taken into consideration, as well as whether the equipment is new or used.