VETERINARY BUSINESS LOANS
GET FUNDING FAST FOR:
NEED ANSWERS FIRST? COMMON VETERINARIAN LOAN FAQ:
Answer: Alternative Financing is simply an option for business when a traditional funding isn’t available. Merchant loans and merchant cash advances for business growth when used properly can take a business to the next level.
Answer: These merchant cash advances are not loans—rather, they are a sale of a portion of future credit and/or debit card sales. Therefore, merchant cash advance are not bound by provincial or state laws.
Answer: Almost Any purpose. Examples of ways that business owners have successfully invested their merchant cash advance money include:
- Bridging Capital
- Buying Out a Partner
- Emergency Situations
- Equipment Repair
- Hiring Employees
- Managing Expenses
- Opening a New Location
- Purchase Equipment
- Purchase Inventory
- Store Expansion
- Store Renovations
- Tax Arrears or Payment
- Unexpected Expenses
- Working Capital
Answer: Within 24 – 48 upon receipt of required documentation and signature.
Answer: Credit plays a small role. Decisions are based primarily on business cash flow and no collateral is needed.
Answer: The repayment is automated by either a fixed daily ACH or an agreed upon percentage of your daily or weekly credit card transactions; also referred to as a Holdback or Retrieval Rate.
Answer: Yes. Your current advance will be paid out from the proceeds to consolidate into a single payment. We do have 2nd MCA loan advances available for US based business only.
Answer: Merchant cash advances come with what is called a “factor rate.” Generally, this will be between 1.2 and 1.4. The lower the risk profile, the closer to 1.2 a factor rate will be. The higher the risk, the more likely it is to spiral up toward 1.4.
Answer: Well, you multiply your advance amount by that number to see what you’ll be paying back over time. So if you take out a $75,000 merchant cash advance and you have a risk profile that is on the low end, you could get that 1.2 factor rate. So $75,000 X 1.2 = $90,000. That means that you’ll get $75,000 within a few business days, and over the repayment term, you’ll be paying back a total of $90,000.
Answer: The maximum advance is dependent on business cash flow, and location (Canada vs. USA). The minimum advance is $5000, and max advance is up to $2M, and up to $3M on exception. Advance max is dependent on funding partner.
➤ Loans are unsecured! No collateral required.
➤ The application process is easy
➤ The cash is available quickly
➤ Collection payments are based on your revenue
➤ Pay as you succeed)
➤ High Approval Rates
Hair & Nail Salons
Retails Businesses / Outlets
Long Distance Trucking Businesses
Hotels & Motels
Dry Cleaning & Laundry Services
Optical Centers, Glasses & Contacts
Day Cares & Nurseries
And much more…