Cash Advance FAQ's

We offer a revolutionary new financing program designed to help you manage your working capital needs through a more responsive alternative to traditional bank lending.

Our products offer a revolutionary way to fund your business operations. The most important thing to remember is that it's not a bank loan. So there are no loan payment books, no dealing with people who don't understand your business, none of the traditional bank hassles, and most of all, no more rejections. The MONEXgroup Cash Advance Program provides funding to your business based upon your future debit and credit card sales. In return for upfront cash from us, you agree to provide us a small percentage of your future sales. It's as easy as that.

A minimum of 4-months of business history and have at least $3,000 of Point-of-Sale terminal sales per month, and meet a few other simple requirements.

Most of our customers use the money for business-building needs like adding more seats to their restaurants, advertising or stocking up on seasonal merchandise. Others have used it to buy out a partner or for emergency needs like unforeseen maintenance issues that could interrupt your business. Unlike a bank we have no restrictions on your use of the funds. MONEXgroup is there for all your funding needs.

The average time from receipt of a contract to funding is usually under 10 working days.

In order to automate the process of providing a small percentage of your daily sales, you will need to change your Point-of-Sale transaction processor to MONEXgroup. It is the unique way we collect the future sales you sold us. We guarantee to meet-or-beat the transaction rate and rental cost of your current processor.

Yes, visit our website to see our full range of ATM accessories

Yes, visit our website to see our full range of ATM accessories

Contact us, we will have one of our ATM specialist advise you on your options

Dependant on the amount of Transactions you are expecting, versus the frequency of your phone line use

Since this is not a loan, there is no monthly payment schedule. We get paid only when you get paid therefore there is typically no discount for early payment. However, as a valued MONEXgroup customer we will consider any special circumstances that you may present in request of an early payment discount.

We use a business-friendly scoring model that blends general economic data, business and guarantor information to assess risk. Considering your personal credit is a part of the process. Bankruptcies are welcome and poor personal credit will not be an obstacle to getting cash from our Cash Advance Program.

Your Business License or Articles of Incorporation showing the names of the owner and business manager are adequate proofs of ownership.

We collect from a small percentage of your daily debit and credit card sales.

Yes, you will receive a printed monthly statement through the mail.

We take the four most recent months of your Point-of-Sale terminal statements to determine the monthly average and our funded amount will be determined based on that average. If you operate a seasonable business or have large variances in the 4 months of volume, we will request additional historical statements.

We take the four most recent months of your Point-of-Sale terminal statements to determine the monthly average and our funded amount will be determined based on that average. If you operate a seasonable business or have large variances in the 4 months of volume, we will request additional historical statements.

MONEXgroup is not a lender, and this is not a loan. We purchase your business's future debit and credit card receivables at a discount. There is no fixed term or periodic amount for repayment or an interest rate. Furthermore, there is no penalty for paying early or late, as there is no repayment schedule. We get paid when you get paid.

Since our funding product isn't a loan we don't have a fixed term of repayment. After you are funded, your daily debit and credit card sales will be split according to a mutually agreed-upon percentage. We therefore only collect based on your actual debit and credit card sales.

You can visit us at www.monexgroup.com and click on Cash Advance, call us at 1866-286-7787 ext. 269 or e-mail us at cash-advance@monexgroup.com

It is a lot easier and faster than a typical bank loan. We understand the reality and the hardship of owning and operating a small- medium size business. The majority of our Business Advisors have also owned and operated their own small to mediums sizes businesses themselves.

Pricing is based on the size of cash advance, the estimated time of distribution, and various other integral details of the cash advance program. This explained fully in the Rate Chart on our website.

No, there are no administration fees.

If you have experienced no change in financial status you will be approved automatically.

The paperwork that you will need to fill out is quite simple and takes no more than ten minutes to complete. We have Business Advisors on hand to help you through this process. Call us at 1866-286-7787 ext. 269.

Our underwriting standard is more flexible than that of similar companies; so in all likelihood our competitors' customers who apply for our funding will be accepted. The only sure way to find out is by submitting an application.

Yes, but we must pay off any outstanding amounts out of our previous advance to you. (You receive all remaining proceeds). Depending on the particular finance company involved, there may be an exception to this policy, but most other debit and credit card receivables companies will have to be paid off out of the first advance.

No -- the application is free to our customers. The sooner you get your application in, the quicker we can get back to you on the amount of monies we will be able to advance you.

Yes. The minimum requirement for qualification of the cash advance program is $3,000 of your monthly debit and credit card transactions. We custom tailor our products to suit our customers' needs all the time. Just ask!

When the Purchased Amount is close to returned to MONEXgroup, the borrower can request a renewal. As a matter of fact, most of our customers opt to do just that. The owner of the business can request a renewal by phone, fax, or e-mail. Renewals are usually funded within days of being requested.