At American Finance Solutions, we recently launched a new Fast Funding program for franchise owners. In the first week the program has been very successful with $500,000 in funding of working capital and another $600,000 in the due diligence phase. Even better than the funding amounts has been the client reaction to the speed of funding. All contracts were funded within 72 hours of receiving contracts back from clients (with required supporting documents of course).To qualify for the program the business owner needs to own and operate a known franchise. Be in business for at least one day, have or expect credit card processing of at least $5,000 per month, not be behind on rent/mortgage/franchiser fees for more than 30 days, not be in bankruptcy proceedings personally or for the business and have a personal FICO score over 500. So almost all franchises qualify!
Details of the funding programs are as follows:
1. Funding amounts available from $10,000 to $200,000 per location
2. Factor rates range from 1.2 to 1.35 with up to 12 month expected payback
3. Split, lock box and a fixed ACH payback are all available and are the merchants choice (of course ACH requires clean bank statements)
2. Factor rates range from 1.2 to 1.35 with up to 12 month expected payback
3. Split, lock box and a fixed ACH payback are all available and are the merchants choice (of course ACH requires clean bank statements)
4. Must submit franchisee agreement with contact info, otherwise all normal documentation is all that is needed (business license, voided check, 2 months bank account statements and drivers license for all owners)
If you own a franchise and are looking for working capital at reasonable rates, please give us a call. Or if you are an agent or reseller for Merchant Cash Advance, then give us an email or call at American Finance Solutions to learn more about becoming a partner.
