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    2 Replies Latest reply on Jul 15, 2008 5:51 PM by MRFINANCE

    What is a unsecured business Advance and how does it work?

    AlotOQuestion Newbie
      Dear All:

      I have been reading and researching about the unsecured business advance. I know that the advance is based on your future credit card sales. I have a few questions in hoping that some one could help me answer.

      1) What is the general percentage of the future credit card sales does the company take out? 3% 5% ?
      2) Does the company need to do a personal credit score check, or is everything just purely based on your past credit card sales?
      3) If my company has an average monthly credit sale of about $30,000 to $40,000 what is the maximum advance that I could obtain?
      4) How long do I have to pay for the advance? Could I end the advance early if I have the capital and paid the advance off?

      5) Are there any draw backs as to getting an unsecured business advance?

      If any one on this form has personally got a unsecured business advance for his or her business could you please provide me with some info as to how it work out for you?

      Thanks in advance for taking the time to answer my question.

      Sincerely,

      David