Paramount Merchant Funding is one of the leading expert sources in merchant cash advances and offers some of the most competitive factoring rates in the business. With over five years of experience, Co-owners Dan Smith and Jared Feldman’s firm grasp of the Merchant Cash Advance process and Merchant’s needs, makes them an explosive combination in this rapidly expanding business. Merchants are able to receive prequalification within twenty four hours with a minimal amount of submitted documentation. All that is needed is the most recent four months credit card processing statements and a filled out application, while most other companies require additionally two months bank statements before qualification. See what Paramount Merchant funding has to say at our blog.
Applications are processed within 24 hours and prequalification numbers are given to the merchant. Paramount Merchant Funding will tailor a program for the merchant’s needs, whether it be the holdback percentage or the cost of the money. Merchants with poor credit, tax liens, and open bankruptcies have nothing to fear because Paramount Merchant Funding will be able to advance you money if you process a minimum of $2000 in Visa/MC, and have been in business for four months. Merchants are contacted quickly by a Paramount representative who will walk the merchant through their programs, answering any questions or concerns. Their preferred method of funding is through split processing, offering next day funding, but in addition they are also one of the few companies that offer ACH and Lockbox methods. They are one of the only lenders in the industry that have prepay options that reward their merchants for paying off advances early by significantly reducing the cost of the advances and charging no penalty fees. To apply with Paramount Merchant Funding click here!
Here is how we rate Paramount Funding:
Overall Rating: 4.8
1) Documentation needed for qualification: Application + 4 months processing statements - 5 stars
2) Application processed within: 24 hours – 4 Stars
3) Max Qualification: $200,000 –3 stars
4) Minimum Merchant Processing $2000 – 5 stars
5) Factor Rates (Cost of the money): 1.19 – 1.52 – 5 stars
6) Ability to Qualify Merchants with poor credit – 4 stars
7) Length of time Merchant in businesss: – 4 months – 5 stars
8) Customer support and extended relations: Excellent – 5 stars
9) Merchant Processing Solutions: Integrity, Newtek, Evo – 4 stars
10) Next day funding: Yes – 5 stars
11) Methods of Funding: Split Funding, ACH, Lockbox – 5 stars
12) Prepay Option: Yes – no penalties incurred – 5 stars
13) Finder’s Fee: 2.5% – 5.0% – 4 stars
14) Time takes until Funding: 3-4 business days – 4 stars
15) Referal Rewards: $250 – 4 stars
16) Additional Types of Loans: Small Business Loans – 5 stars