Procedure
How does a Loans for Merchants' Cash Advance Work:
* We review your prior credit card transaction history and determine how much cash you qualify to receive based on your prior six (6) months of Visa/MasterCard processing history. * We present a Cash Advance Offer along with a payback amount and the percentage amount, which is to deducted from each transaction. That amount will go towards repayment of the Cash Advance. * You must move your current credit card processing merchant account to LFM. * Your replacement merchant account will be placed with JPMorganChase. * We handle all the details to configure your POS terminal for the replacement merchant account. * You will receive your approved wired Cash Advance within 24 hours after approval. * You continue to operate your business as usual. * We automatically deduct the predetermined percentage amount from each credit card transaction until your balance is paid in full. The Cash Advance may be renewed based on the same terms and conditions every year. * After the funds have been transferred, you will pay a small Cash Advance Or Orgination Fee of $145.00. * Remember you have no financial risk for Approval.
How to Receive Loans For Merchants' Cash Advance.
* Fill out the online application and we will email you the applications needed to receive your Cash Advance. * Fax your completed & signed application, along with the last 6 months of processing statements * We will review your application for approval and provide you with a written Cash Advance Offer within 72 hours. * We will wire the Cash Advance directly into your business checking account within 72 hours after your acceptance.
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