Q. How does the Business Cash Advance program work?
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. Our 80% approval rate is 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 pre-determined 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?
Our basic qualifications are that you must have a physical location, be in business for at least 1 year, process at least $3500/month of Visa/MasterCard receivables and have at least 1 year left on your lease. To find out how much you qualify for, simply click “Apply Now” and provide some basic information. You will receive a call and a free, no obligation quote within 24 hours from an Account Executive who will review your funding options.
Q. What kind of discount do I get if I pay early?
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 a Business Cash Advance with AAICF?
We offer 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 business cash advance cost?
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 Business 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”.
Q. Do I have to pay any fees to get a business cash advance?
AAICF does not charge Application Fees or Points and you can receive a free, no obligation quote, you make the intelligent decision.
Q. Will bad credit affect my business cash advance request?
A Business Cash Advance is not solely based on your credit score; therefore it is not necessary for you to have good or excellent credit to receive an advance. Take the three minute challenge and see how much you qualify for.
Q. How often do I have to make payments?
We get paid as you get paid. You never have to write a check. Our automated process is designed to work with your credit card processor to collect a small percentage of your daily Visa and Mastercard receivables until your business cash advance is settled. Simple and Easy!
Q. How easy is it to get approved by AAICF?
Our proprietary approval process allows our merchants to enjoy high approval rates (80%) and funding within 10 days.
Qualification is easy:
- Have you been in business for at least 1 year?
- Is your monthly Visa/MasterCard volume at least $3,500?
- Are all prior bankruptcies resolved?
- Do you have at least one year remaining on your current retail lease?
If you answered yes to these questions then you should “Apply Now” as you are in the highest percentage rate class for approval.
Q. I am already with another financing company providing a similar financing, can you replace that arrangement and offer me more money?
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. Simply “Apply Now” to find out how much you’re qualified to receive.
Q. Do you require a personal guarantee?
A. No. Our Cash Advance does not require a personal guarantee; however, individuals may be liable in cases of fraud, misrepresentation, and as further detailed in the agreement.
Q. Can the daily payment percentage be changed after the account has been funded?
No. We maintain the percentage till the advanced is paid in full.
Q. I need a longer term than 6 months. Do you offer such terms?
Yes. We offer two funding programs (i.e. 6 month or 8 month) based on the merchant's needs.
Q. What if I already have a business loan?
Our product is a business 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. What can the Business Cash Advance be used for?
Your Business Cash Advance can be used for any business purpose, including: purchasing inventory, repairing equipment, renovations, expansion, reducing debt, or emergencies expenditures. You are free to spend the money on whatever is best for your business.