We advance you funds against your future debit and credit card receipts. A mutually agreed-upon percentage is taken from your daily Debit/Visa/Master Card receipts until full delivery to MONEXgroup of the factored amount.
Amount of advance varies from $3,000-$200,000 and is based on the average of your last 4 months Debit/Visa/Master Card statements.
Typically it takes 7-9 months to payback the advance. The delivery period is not fixed because it's based on your actual Debit/Visa/Master Card receipts. Therefore it may be a little longer or shorter, than the 7-9 months, but we only collect the mutually agreed fixed percentage of your daily Debit/Visa/Master Card receipts until the entire agreed (factored) amount is delivered.
In order for us to completely automate this process, we will switch you to the MONEXgroup processing networks. You do not have to be concerned as your rates will be matched or lowered.
We are a factor and not a bank, so, there is no interest rate. There are also no requirements for collateral, financial, tax returns, etc.
We can fund your business within 5- 7 business days.
We will send out monthly statements recapping all monies paid in the previous month and also the end of month balance. |