Frequently Asked Questions

1. What is a Cash Advance?
a. A Cash Advance provides a small to medium-size company with working capital within a week by leveraging their future Visa and MasterCard sales as a guarantee.

2. Why haven’t I heard of this before?
a. Accounts Receivable factoring has been around for a very long time. This program is a relatively new twist on those same principles.

3. How do you determine the size of the Cash Advance that I qualify for?
a. The amount may vary but, typically it is as much as the average of your last three months Visa / MasterCard sales.

4. How do I apply for a Cash Advance?
a. We offer several methods you to apply. The quickest and easiest is our secure online application form. You are always welcome to contact our office directly and a representative will send you the form via fax or regular mail.

5. How long will I have to wait to find out if I have been approved?
a. Pre-approvals are completed in less than 48 hours.

6. How long does it take to get the money?
a. Usually funds are wired to your bank account within a week of your approval.

7. How do I repay my Cash Advance?
a. In addition to the fees paid to Visa and MasterCard, we collect an additional small percentage of your daily Visa and MasterCard sales through our credit card processor and apply it to your existing Advance balance.

8. Am I locked into a set term? Is there a prepayment penalty if I want to pay the advance off sooner than scheduled?
a. The repayment period is typically spread out over a 6 month period. You may choose to pay the advance back at any time with no prepayment penalty.

9. Can I use my existing Credit Card processing account?
a. Our system requires that you use our processor who has been certified to administer our program. Our processor facilitates the transfer of funds from your daily sales to your Advance account with CashReady International.

10. Will I receive the same low rates as my existing credit card processing account?
a. Yes, we will match your current rates. After analyzing your statements we may even be able to reduce your current processing rates.

11. Are deposits made to my bank account the same way my existing merchant account works?
a. Funds are deposited daily directly to your bank account of record through the Automated Clearing House (ACH). This is the most widely used method of funding by U.S. credit card processors.

12. How do I contact a representative if I have a question or problems?
a. Our Customer Service Department is open from 7 am to 5 pm PST.