FAQ

Do I have less of a chance of accessing purchase order financing because of the struggling economy?

Fortunately the two are unrelated! You have just as good of a chance as ever.

What’s the advantage of taking out equipment financing?

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.

What determines how much I can borrow through equipment financing?

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.

How much funding can I receive?

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 CFG Merchant Solution representative.

Do I need perfect credit to be approved?

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.

What determines whether my company is accepted for purchase order financing?

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.

What if my business sells a service, instead of a product? Can I still apply for purchase order financing?

Unfortunately no. Purchase order financing applies only for businesses who sell physical products.

If sales are going well and product order financing is needed again, can our business reapply?

Of course! The steps are actually quicker and easier the second time around because you already have an account with our company.

Is Invoice Factoring used only by companies in trouble?

Invoice Factoring is a way for your business to grow, without giving away equity or taking on debt. This process can be used for any business, not just struggling businesses. Financially smart companies use factoring as a tool to release capital being held in your Accounts Receivables.

What is Invoice Factoring?

Invoice Factoring is the purchase of valid Commercial Accounts Receivable for cash.

How can I use the funding received through a merchant advance?

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
What are the advantages of a merchant cash advance?

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.

What is a Merchant Cash Advance?

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 CFG Merchant Solutions will give your business funding to help grow your business. In return, your business will pay back CFG through an agreed amount of credit card sales.