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New Orleans is swinging again. Merchant Cash Advances and Gift Card Programs Available

By fmaadmin | Published: May 16, 2011

It’s been several years since the disaster in New Orleans occurred. It was hard to believe (then) that the city would ever regain it’s flavor, and become a viable place to live, visit, and play. That day has happened, and that day is now. The city is back on it’s feet, and better than before offering Mardi Gras, Jazzfest, Casinos and more. 10.1 million people visit the city each year, and bring their wallets ready to spend their hard earned money. At Fast Merchant Advance we have seen the trend, and it’s going up at a rapid pace.

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What documents are needed when applying for a Merchant Cash Advance

By fmaadmin | Published: May 13, 2011

When a new merchant comes to us for a merchant cash advance, and decides to move forward with the application process, there are other documents we need to receive in order to correctly underwrite a merchant cash advance. Compared to loan/advance industry standards, Fast Merchant Advance makes this step fairly easy. Banks, as well as some of our merchant cash advance competitors request mountains of paperwork that are mostly unnecessary, and quite frankly are a pain for most merchants to put together and send. Fast Merchant Advance’s process is streamlined, and geared towards making it quick and easy for a merchant to apply for a merchant cash advance. Following are the documents that Fast Merchant Advance needs to begin the underwriting process. Very rarely do we ask for more documentation before a decision is determined.

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VIP Stored Value Cards For Restaurants, Bars, Nightclubs, and Hotels

By fmaadmin | Published: April 30, 2011

Fast Merchant Advance has created a VIP stored value card program specifically geared towards the service industry. A fantastic way to retain clientele, generate new clientele, marketing your business, and generate instant working capital. With this stored value card program, we provide the software, all of the marketing material/collateral materials, and all training and support needed to help launch. Fast Merchant Advance will custom design these VIP stored value cards with a merchant’s logo, or any artwork they desire. The cards are then professionally printed on card stock, with a high gloss finish to make them look very professional. Everyone loves to feel like a VIP, and this is the best way to achieve this.

An example of a VIP Store Value Card program for a nightclub could be as follows:

The program consists of 3 levels. Silver, Gold and Platinum status. Each status carries its own special rewards.

The levels are as follows:

Silver Level VIP – This stored value card costs the customer $500.00, and includes no waiting in any lines, and 1 private, VIP party per year. The customer will receive $600.00 in value on the card. Pay $500, get $600 along with those special rewards.

Gold Level VIP – This card costs the customer $1,000.00 and includes all the silver perks, PLUS a special GOLD VIP party as well. The GOLD VIP members can also attend the SILVER VIP party and receive ½ off the cover charge. $1,000.00 will buy the customer $1,200.00 in value.

Platinum Level VIP – This is the “Donald Trump” of VIP cards. This card will cost the customer $1,500.00, but they will receive $1,750 worth of value on the card, all the aforementioned perks, PLUS attendance at all three VIP parties each year with no cover charge at all.

Not only will the cardholder get an immediate savings with the added value, but gain access to special privileges and perks. For the merchant, it is instantaneous working capital, with 5 – 7% breakage built in. "Breakage" is money that is loaded on a card, but never redeemed aka FREE MONEY. Perks for the merchant include:

  • No cash back refunds on cards purchased
  • Electronic real-time online reporting on all current circulating cards, and their usage reports
  • Immediate working capital
  • Retaining current clientele, and gaining new clientele
  • Free Training and 24/7 Support

So, how does this really work? Meet Dave………………

Dave has just opened a new nightclub in the heart of downtown. Considering the young demographic of the city, he expects his nightclub is going to do very well, and take off very fast. However, Dave did not anticipate, nor prepare for all the opening costs that he is facing. He has realized that after all his opening expenses, permits, and overage costs, he has completely depleted his funds, and needs access to cash fast to launch a city wide marketing campaign. Normally, when a merchant is in need of fast working capital, they can come to Fast Merchant Advance, and receive a working capital advance based on future credit card sales. However, they must be in business for at least six months before they qualify for our traditional cash advance program. The Fast Merchant Advance VIP Store Value program is exactly what he needs, and fits his needs like a glove. Fast Merchant Advance can have this program installed and running with 10 business days, cards printed, delivered, and software installed. Not only does this greatly help his marketing efforts, but also gives him fast access to working capital. If Dave simply sells 50 silver, 25 gold, and 10 platinum cards, he has $65,000.00 in working capital! This will not only cover his marketing costs, but also serve as general working capital should an unexpected expense arise in the initial stages of his business. His new patrons are also happy, because not only are they now VIP’s, but also received immediate free dollars to be redeemed at his club. Considering the mark up most restaurants, night clubs, and bars have in regards to food and alcohol, his investment into each card is virtually nothing.

Dave’s story can easily be emulated to fit any restaurant, bar, nightclub, or hotel. Please contact us today to find out more information, and speak with a representative who can help put this type of program together for YOUR business. Please visit our website, www.fastmerchantadvance.com or call us today at 1-800-582-4953!

Apply For A VIP Stored Value Program for your Business Today

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Gift Cards Programs and Loyalty Cards

By fmaadmin | Published: April 29, 2011

Gift cards have become the most popular gift given today. Instead of tirelessly shopping for someone, not knowing what to get them, you can simply buy a gift card, and that person can purchase their own gift. Consumer gift cards were a billion dollar industry in 2010, and this number keeps rising year by year. Gift certificates were once very popular, but the age of technology has since seen the gift card take over. With store gift cards, a merchant can track all of the activity, and mitigate any risk in regards to receiving a fake gift certificate.

Fast Merchant Advance, along with serving as a premier alternative business finance company, is also a premier gift card provider to merchants in the US today. We have gift card programs that can work with any type of business, including restaurant gift cards, retail store gift cards, or even personal service gift cards for things like massage and spa treatments. We have introductory gift card packages that are no brainers for today’s merchant. Our introductory gift card package provides a merchant with 50 free custom designed gift cards, the equipment needed to process gift card sales, and marketing materials to display anywhere a merchant would like. Once a merchant has fully used their first round of cards, they can re-order a larger batch of cards at a very low cost. The gift cards are re-usable after a customer has fully depleted the gift card funds, simply re-load and resell to another customer! The program pays for itself in a short time. With the “breakage” on gift cards, this creates a whole new stream of revenue for a business. Breakage is defined as the money that is loaded onto gift cards, but never actually redeemed. The average breakage is generally in the neighborhood of 5 – 7% of the total gift card value.

Another great value added service Fast Merchant Advance provides is Loyalty and Stored Value cards. These are redemption based programs that offer a reward for a large purchase, frequent shopper, or VIP customer. We’ve all seen the primitive version of these. A customer walks into a coffee house, and collects a punch card, after that person buys 10 coffees, and receives 10 punches, the next one is on the house. The same theory applies here, with a twist. A merchant can set different tiers for their program, which offers their customers more than 1 way to receive benefits. An example would be, if a customer spent $20 at a restaurant, they would get a free appetizer, if they spent $50, they would get a free dessert, and if they spent $100, they would receive a free entrée. These tiers are all pre-set by the merchant, and can represent any reward they would like to offer.

We suggest that each merchant who is interested in starting their very own gift card or loyalty card program, opt to do both of these services. Not only are they a fantastic way of adding a new revenue stream to a merchant’s bottom line, it’s also a great way to drive new business directly to the merchant in the form of dollars that can only be spent there. Please review the gift card page on our website, or contact us anytime at 800-582-4953. We’ll be happy to assist you establishing a Gift and Loyalty Card program that works for your business.

Apply For A Gift and Loyalty Card Program Today

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Merchant Cash Advance Requirements – Who Can’t We Fund?

By fmaadmin | Published: April 19, 2011

We’ve written all about what types of merchant cash advances we can do, but haven’t mentioned the types of merchant advances we can’t fund. There are certain industries that we simply cannot work with either because of their business nature, or simply the risk is too high.

If a merchant’s business is a restaurant, retail store, day spa, bar, liquor store, etc, we generally have no problems approving and funding these types of business.

The following business types are restricted and we can not provide merchant cash advance products to them:

  • Adult businesses including adult related products and services
  • Gambling Establishments
  • Travel agencies and event services
  • Drop shipping & Fulfilment companies
  • Gas Stations
  • Cell Phone Stores
  • Bail Bonds
  • Check Cashing Stores
  • Collection Agencies
  • Credit Card Protection
  • Credit Restoration / Repair
  • Dating Services
  • Home-based Businesses
  • Mortgage Lenders
  • Real Estate Brokers
  • Real Estate Management Companies

Two Examples below:

Gas Stations are a type of business we are not able to work with. The profit margins on gasoline are very small, most of the time being just cents on the dollar. Should we give a merchant cash advance to a gas station, the payback percentage we would take (generally 20%) would be too high for the merchant to sustain any profitability. As mentioned in other blog posts, Fast Merchant Advance will always ensure that we are enabling the merchant to continue to be profitable.

Cell Phone Stores are another type of business we are not able to fund. We know what you are thinking. “What?! You can’t provide merchant cash advance for cellular phone stores?! Surely they have ample credit card processing volume!” You are right, they they do have volume. HOWEVER, most cellular phone stores are re-sellers for the major cellular providers, and not direct authorized agents. What does this mean to us? It means that the majority of the funds they collect are from bill payments, and deposits, which immediately go to the provider. Example: If we walk into Joes Cellular store, and buy a phone, put down a deposit, and pay our first month’s bill, Joe will run our credit card for $500. However, only $75-$100 dollars of that money will actually be Joe’s profit on that sale. Therefore, when we look at this processing statements, and see lots of volume, we know that most of the volume he processed was immediately diverted elsewhere leaving him with a small profit margin. Again, taking a merchant cash advance from us would hinder his ability to pay down the balance, and maintain a healthy profit margin.

Fast Merchant Advance strives to help businesses flourish, but unfortunately we cannot assist them all. If you have a similar business, and would like to know if you qualify for our cash advance program, please visit, www.fastmerchantadvance.com or call us at 866-582-4953.

To find out how much your business is qualified for Apply for a Merchant Cash Advance Today

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PCI Compliance – Free PCI Compliant Credit Card Machine

By fmaadmin | Published: April 17, 2011

We all live in a world where everything is moving from manual processes to electronic. With new technology comes a new responsibility, especially when dealing with sensitive information, such as credit card data from merchant to merchant. With the increase of electronic fraud reported, it has now been mandated that we must take extra measures to ensure that each cardholder and effectively each merchant is safe, and secure.

You may have heard the term PCI Compliance more and more recently and there is a reason. The government has now mandated that all merchants have a PCI compliant credit card machine. As a result, all credit card terminal manufacturers have had to make new PCI compliant models. These machines are more secure, and do not store sensitive card or cardholder data, like the old machines did.

We’ve already had merchants advising us that their processors have contacted them advising that they must purchase a new PCI compliant credit card machine. Many processors have been selling these machines to merchants at an extremely high markup. Yes, this is where Fast Merchant Advance comes in the picture. How about a FREE PCI Compliant credit card machine? No, no, you didn’t misread. NOTHING. That is what a you will pay us for a brand new PCI Compliant credit card machine. We will program, and ship the new credit card machine directly to you. This machine will be yours to use, absolutely free as long as you process credit cards with us. And not only that we guarantee to save you money on your credit card processing fees.

In some cases, a merchant may have a more elaborate POS (Point of Sale) system. These systems also serve as inventory management, front of house to back of house communications etc….They are quite expensive, and generally run anywhere from 10 to 20 thousand dollars. Unfortunately, we are not able to provide these for free, but if a merchant absolutely needs to use this type of equipment, the upgrade to PCI compliance can be very expensive. We are more than happy to provide a merchant with merchant cash advance funding to assist in the upgrade or purchase of new PCI compliant POS products. We will even work directly with your POS system resellers to ensure that the new system will be fully, and correctly functional. Another reason Fast Merchant Advance is a great contact in a merchants arsenal.

To find out how much your business is qualified for Apply for a Merchant Cash Advance Today

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Business Cash Advance – Technology paving the way for more profits!

By fmaadmin | Published: April 15, 2011

It’s been said that the early bird gets the worm, and that was accurate up until a short time ago. Now, the saying is more like “the techno savvy bird will get that worm”. Today’s business environment is no different. Technology is paving the way not only for new types of businesses, but improving existing ones as well. We’ve seen this first hand with the new point of sale equipment that has come out in recent years, and months. It is a good idea to keep a finger on the pulse of ongoing technology changes so you can find new ways to leverage them in your business. Upgrading your point of sale and credit card processing equipment can not only improve efficiency, but save you money as well.

Fast Merchant Advance believes has its fingers on the pulse of the ever changing business world. Whether a merchant is purchasing new energy efficient ovens for their restaurant, or a car dealer purchasing inventory management software, we are here to assist those purchases through your flexible business cash advance program. By improving efficiency, a merchant is also improving their bottom line and maximizing their profits. Our aim has always been to assist merchant in improving their business; whether they need to buy technology, expand, or simply to have working capital available for everyday expenses.

Our merchant cash advance product is highly rated, and used by many small business. The application for a merchant cash advance process is simple, quick, and convenient for even the busiest business owner. Within 3 days of receiving your documents we can generally have a decision and applicable merchant cash advance offers back to the merchant. Once a merchant chooses which offer they would like to accept, we convert over the merchant account to our processing, and wire the merchant their cash advance funds. The merchant is then free to use the money in any way they wish.

We urge you to review the information on our website, www.FastMerchantAdvance.com to get a better understanding about our merchant cash advance program and to see if it is right for your business.

If you have any questions, please feel free to call us toll free 1-800-582-4953. You can speak directly with a representative who will be more than happy to speak with you, answer questions, and begin the process.

To find out how much your business is qualified for Apply for a Merchant Cash Advance Today

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Merchant Cash Advance – Split Funding to Settle Back Rent

By fmaadmin | Published: April 13, 2011

Merchant Cash Advances can be used for a variety of uses, not just expansion and marketing campaigns. In some cases, a business owner will come to us in need of working capital to catch up on past due bills and other debts such as tax liens. Unfortunately not everyone will qualify for a merchant cash advance. In some cases a merchants needs are are just too far outside of our program parameters. However, some of the merchants who come to us for working capital are already on payment plans, or have made arrangements to settle their debts. These are the merchants we can often work with and provide merchant funding.

One of the more common cases is back rent payments that are due. One of the final steps our underwriters take is completing a landlord/mortgage reference to ensure the merchant is current with their rent. When a merchant is severely behind on rent, they run the risk of eviction, and therefore putting them out of business effectively nullifying the merchant cash advance contract. So it is very important that we complete this step. If a merchant is behind on rent, and the back rent due is less than 2 months, we can use split funding to pay the amount of back rent owed directly to the landlord and the balance to the merchant.

Example:

Simon’s Shoe Repair owes his landlord $1500 for back rent. Our underwriters confirm with the merchants landlord to see if he is willing to accept money directly from us to satisfy the back rent owed. (Generally, most landlords have no problem with this action) Simon’s Shoe Repair is then approved for a cash advance of $10,000. We will obtain his landlords checking information, and will then ACH Simon’s Shoe Repair $8,500 and his landlord $1,500 satisfying the back rent, and giving Simon an extra cash infusion.

If the merchant is more than 2 months behind, this is a clear indication of a lack of ability to pay their rent. We conclude that if a merchant is not able to sustain their current rent, while getting 100% of their credit card sales, they will not be able to sustain it while giving us roughly 20% of their sales and unfortunately will be declined.

So, please give us a call at 1-866-582-4953 if you need us working capital for your business and owe back rent to your landlord. We can assist paying back rent, while giving your business the merchant cash advance infusion you need. Please visit our website for more information, www.fastmerchantadvance.com.

To find out how much your business is qualified for Apply for a Merchant Cash Advance Today

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What is the Difference between a Merchant Cash Advance and a Traditional Bank Loan?

By fmaadmin | Published: March 25, 2011

There are vast differences between a traditional bank loan and a merchant cash advance. A merchant cash advance, although more expensive is actually much more flexible that a standard bank loan. A bank loan, especially these days is an extremely hard thing to come by. Not only are the requirements unbelievably stringent, but the rates and stipulations are often very harsh, and not easily absorbed by a business that is in need of a cash advance. A merchant cash advance is very flexible and made to work with a merchant’s credit card volume, every time a merchant accepts a credit card, we collect our payback. It’s as simple as that.

With a bank, there is a very firm, set due date for all payments. Should a merchant miss that payment, additional fees, penalties will be added to the cost of the payment, and the overall amount owed. With Fast Merchant Advance, the cost is 100% set up front. Never will any fees be added to the total amount of funds due. There are no set times for the cash to be paid back, every time a merchant collects a credit card payment, we collect our set percentage from that sale, and that satisfies the repayment back to us. While there are no set payback times for a merchant cash advance, a merchant who pays back according to our expected schedule will be rewarded with the option to take additional funds.

A bank will also charge several initiation fees including large application fees, and account setup fees. We have no fees to initate a merchant cash advance, and get a merchant the funds they need. Generally, within 5 business days we can do the underwriting, convert a business owner’s merchant account over to us, and have them funded. Try getting that from a bank! We urge all of our merchants to try and go to a bank first. The money is less expensive, and often makes sense for a business owner. However, most of those merchants come back to us and opt to use our funds instead. We are much more flexible, and much easier to payback. A merchant cash advance is a fantastic weapon for a merchant to have in their arsenal.

To find out how much your business is qualified for Apply for a Merchant Cash Advance Today

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Merchant Cash Advances in the Improving Economy

By fmaadmin | Published: March 23, 2011

You’ve probably heard people talking, as well as on the news that the US economy is getting better each day. Although, the economy is not back to where it once was, it certainly is on the rise. Consumers are starting to come out of “spending hibernation” and begin to shop, eat at restaurants, and take vacations again. This is a great thing for all small, medium, and large size businesses as profits are improving as well.

The merchant cash advance industry is certainly excited about the recent resurgence in our economic status. Business owners are seeing in influx in sales, and profits thereby allowing them to focus more on expansion versus focusing on how to keep their doors open. To expand however, working capital is needed. Due to the down trending that has occurred over the last several years, working capital has not been readily available. Fast Merchant Advance can assist in these ventures by offering a full suite of working capital solutions for small, medium, and large scale businesses.

Fast Merchant Advance specializes in expansion merchant cash advance funding. Although, we are able to fund businesses that are simply looking to pay down bills, or make payroll etc… We prefer to assist those who are looking to expand their business, increase their sales, and profit margins. Whether looking to launch a new advertising campaign, build on to an existing business space, remodel, or purchase new equipment, Fast Merchant Advance can serve the business owner. Typically, within 5-7 business days, we can underwrite, approve, and fund a business. Once a business owner has paid down at least 50% of their merchant cash advance, we can generally offer them another round of funding to continue with their expansion plans. In most cases with merchants who are expanding, their sales grow within the time period that they are paying back the advance. Thus, we can offer a merchant a larger funding the 2nd time around, should they need it.

During the final stage of the funding process, we will convert over a merchant’s credit card processing account to our preferred funding processor. In most cases, we are able to lower a merchant’s credit card processing rates, providing savings from what they pay now, going forward. One of our favorite sayings is “saving money, is just as good as making it”. As our economy continues to improve, consider Fast Merchant Advance as a good option to help your business grow.

To find out how much your business is qualified for Apply for a Merchant Cash Advance Today

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