Rapid Advance

Rapid Advance, located in Bethesda Maryland, was founded in 2005 and is led by CEO and Chairman Lee J. Jundanian.  With an 80% merchant approval rating, it is a leading source for direct funding, and offers three different lengths of programs ranging between four, six, and eight months.  They have partnered with TriSource Solutions as their merchant processing services.  Rapid Advance requires merchants to be in business for at least one year, to process at least $2,500 in Visa/Mastercard, have at least one year left on a lease (if applicable), and have settled all prior open bankruptcies.  To apply with Rapid Advance click here!

Overall Rating: 3.4

1)      Documentation needed for qualification: Not advertised

2)      Application processed within: 24 hours – 5 stars

3)      Max Qualification: $600,000 – 5 stars

4)      Minimum Merchant Processing $2,500 – 4 stars

5)      Factor Rates (Cost of the money): Not advertised

6)      Ability to Qualify Merchants with poor credit – 4 stars

7)      Length of time Merchant in businesss: – 12 months – 3 stars

8)      Customer support and extended relations:  4 stars

9)      Merchant Processing Solutions: TriSource Solutions – 4 Stars

10)  Next day funding:  Not advertised

11)  Methods of Funding: Split Funding -  1 stars

12)  Prepay Option: YES – no penalties incurred but no discount – 3 stars

13)  Finder’s Fee: Non – 5 stars

14)  Time takes until Funding: 7 business days – 3 stars

15)  Referal Rewards: Not Advertised

16)  Additional Types of Loans:  Non – 1 Star