The Deal isn’t Done, Until It Is Really Done!

Merchants, be aware!  Although contracts were signed, the funding has not been deposited into a bank account yet.  Merchant cash advance lenders still have to underwrite the file, check trade references, check landlord/mortgage references and settle all other outstanding issues (like tax liens and mortgage payment plans) if they exist. Merchant cash advance lenders can give an estimate of when the funds will be released into bank accounts, and then... [Read More...]

I received contracts. Am I approved now?

Merchants often receive contracts from their broker or lender, sign them and send them back thinking the deal is done and they will be receiving money shortly.  Signed contracts bring the merchant closer to the finish line, but it is in no way an indication that the deal is done and will be approved for funding. Merchants be wary – sometimes brokers trying to earn business will have you fill out contracts, but later on down the line these numbers... [Read More...]