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 usually it takes another day for the funding to actually post into the account.  A mistake many merchants make is that they purchase that extra inventory they were looking for, or they pay off that vender that they owed, only to find that the checks they wrote bounced and they incurred NSF and overdraft fees from their bank.  Money should not be spent until there is confirmation that the funds have been wired or ACH’ed to the merchant’s account.

For more information about the funding process click here!