Process
Clarity first. Then a decision.
One application can be read for more than one kind of working capital. Here is what changes between the products, and what does not change: you see the terms before you are asked to accept anything.
What the file can be read as
Revenue-based financing is a sale of future receivables. The provider pays a lump sum. You remit an agreed total from card sales or by daily or weekly ACH. That is the merchant cash advance structure.
A term-style advance, when a partner offers one, is a set amount on a schedule. A line lets you draw and repay within a limit the provider controls. Those are different contracts. America Business Advance is not the funder in any of them. We prepare the file and place it with partners who decide whether to offer anything.
Illustration only, not an offer: a factor of 1.25 on a $40,000 advance means $50,000 is remitted in total. Real factors vary. A fast payback can make the same factor feel more expensive than a slow one.
The sequence
01
You apply
Legal name, DBA, entity, EIN, ownership, addresses, revenue, and the range you want to discuss. Then the owner’s phone, date of birth, home address, Social Security number, and estimated FICO score.
02
You attach statements
Three most recent business bank statements. If the business is in California or New York, four. PDF is best. A voided check and a driver’s license are optional and often shorten the back-and-forth.
03
You sign
The owner signs on the screen and prints their name. That signature travels with the application to the funding desk.
04
Partners review
Someone may call to confirm deposits, ownership, or a position with another funder. Have the last few months of activity in your head.
05
You get a yes, a no, or a question
An offer should name the amount, the total you repay, how often you pay, and whether it is a purchase of receivables, a term, or a line. If it does not fit the cash flow, do not take it. A decline is also a complete answer.
What partners tend to read
- Average daily balance and whether the account overdrafts
- Deposit consistency, not a single good month
- Existing daily ACH pulls from other advances
- How long the business has been open
- Whether the owner’s story matches the statements
What we will not tell you
- That you are approved before a provider says so.
- A guaranteed rate, a guaranteed amount, or a guaranteed day for the wire.
- That applying cannot affect your credit. That decision belongs to the provider who reviews the file.
- That an advance is cheap. You are paying for speed and for underwriting that looks at deposits.
Ready when the statements are.
Or call Joe Brown at (917) 342-2936 and walk through it first.