Business Cash Advance FAQ
1. How can my business qualify for a cash advance?
First of all, you must be running the business for minimum 1 year which accepts Credit Cards as a form of payment. The payment processed through Credit Card must be minimum of $3,000 per month. You may provide the credit card processing statement for previous 3 months.
2. How easy is it to get approved by Orbit Business Cash Advance?
If you are planning to get finance for your business, then Orbit Business Cash Advance provides one of the simplest and fastest method. We have very effective processing system through which you can get the finance for your business. We understand how difficult it is to manage a small-medium business.
3. How can I speed up my cash advance approval?
You may submit your contact information and credit card processing statements for Visa, Master, American Express or Discover by fax at 1-866-672-4880. One of our business development consultants will soon contact you to get the application. We are available all the time to assist you.
4. How do I get started?
As you decide to take loan through us you may call to our Business Development Consultant at 1-866-672-4884
5. How does the business cash advance program work?
As you get approval we can advance your business up to $3,000,000. It is directly deposited into your bank account.. The loan amount depends on your current sales receipts. Before you pay back the money the small percentage is deducted from your daily ongoing Visa/Master Card/Amex and discovers receipts.
6. How much will a business cash advance cost?
A business cash advance cost depends on various factors. The cost depends on the size of cash advance and its time of distribution. All these factors are very clearly mentioned in Cash Advance Approval Sheet.
7. Is there a fee for providing a small business cash advance?
No, we do not charge any administration fees and our services are free of charge.
8. Will bad credit affect my cash advance request?
You really do not require a good credit rating to get a business cash advance. People with poor credit rating can apply and get a cash advance.
9. How fast can I get a small business cash advance?
Its availability depends on the time you take to submit the application along with the necessary documents. Orbit Business Loans can provide you loan in shortest period of 72 hours.
10. How much of a cash advance can I receive?
You can get cash advance from $3,000 to $3,000,000.
11. How will I pay back the business cash advance?
We help you calculate the optimal payment plan for you, however it depends on your cash flow projections.
12. Is the business cash advance considered a loan?
Most people do think that the business cash advance is a loan, but actually it’s not so. It is a purchase of future receivables. It is cash paid against the visa or master card and is paid back through the owner’s account itself.
13. When I have repaid my first cash advance, how easy is it to apply again?
It all depends on your convenience. If you do not find improvement in your financial status than you will be again approved automatically, when apply.
14. How complicated is the paperwork I have to fill out in order to receive a cash advance?
The paperwork is not complicated. It’s very simple application to fill. It does not take more than fifteen minutes to complete the application form. You may also take the assistance of our business development consultants to complete the process.
15. I am already with another financing company providing similar financing. Does that mean I will get approved by Orbit Business Loans?
We have higher standards of credit underwriting as compare to other companies. Nevertheless, we accept 95% of customers from opponent’s side who applied to get loans from Orbit Business Loans.
16. Can I receive financing from Orbit Business Loans while the financing from another company is still outstanding?
Yes, off course! But we repay the outstanding debt out of our first advance to you. The remaining payment will proceed to you. Secondly it depends on the company from whom you get the loan. There are exceptions in such cases. Most of credit card receivable companies have to be paid off the first advance.
17. Is it going to cost me to apply for Orbit Business Loans financing?
No, it’s totally free of cost. You may apply free of charge to us at any time, the availability of money depends on the time you took to apply. As soon as you apply for it we provide you money in the shortest and simplest way.
18. I have high enough overall sales, but my Visa/Master Card volume is very low. Is there any way I could receive funding?
Yes, you can. You are qualified to get a cash advance if you process transactions worth $1500 per month through VISA/MASTER/AMEX/DISCOVER Card. We design customized plans according to the requirements of the customers. Call us to know!
19. Can the advance be renewed?
Yes, the owner can renew the advance on phone or by fax or e-mail. He can request it when the advance balance is to lower level of 30% of the original balance. The request of renewal is funded within 24 hours.
20. Do I have to switch my current credit card processor?
Yes, you have to switch to our affiliated credit card processors to receive funding. By doing so you will also save your money as our affiliated credit card processing companies will definitely provide you better cost structure as compare to your existing processing company. You will surely save money by switching.
21. Do I have to get a new credit card terminal?
Not necessarily. Just re-program your terminal. Within ten minutes it can be done. Our credit card processor will give you all the instructions to re-program it over the phone.
22. What if I am not happy with Orbit Business Loans affiliated credit card processor?
If you are not satisfied or if you are not happy with the current credit card processor, First of all we will try our best to resolve the issues and problems. But if we are failing again than we will switch you over to our next processor. However, it’s compulsory to remain with one of our processor.
Quick links
Home
Testimonials
|