PittGlobal - Cash Advances Against Bankcard Receipts

	Bankcard Services
Capital Advances

Short-term capital, in the form of a cash advance, is available to you as a PittGlobal client of North American Bancard. In exchange for the advance, NAB’s subsidiary, Capital for Merchants, secures the right to receive a small fixed percentage of your future credit card receipts until the advance is repaid. The bulk of your receipts continue to be deposited to your merchant account on schedule. You can track repayment online day by day.

Main Considerations

No application or startup fees
No Closing Costs
No collateral
No hidden fees or gimmicks
No personal liability
No financial/tax returns required
No need for A-B credit
No bills to pay
Tax deductible
95% approval rate
Fast approval
Cash in hand usually in 72 hours
Up to $250,000

Transactions of this sort have been more frequent recently, because banks currently profit too little from loans to small and mid-sized organizations. Because the funding source is not a bank, the financing can be more creative and flexible and yet remain legal.

Capital for Merchants has a high rate of repeat business, which suggests that merchants are satisfied with the experience. PittGlobal represents Capital for Merchants and its parent company.

Through NAB, Capital for Merchants can examine a client's history of charges, chart growth over time, and anticipate likely future receipts by the client. NAB, which processes over $6 billion in credit card transactions for over 70,000 US businesses, can analyze applicants’ credit card histories to help determine their credit-worthiness for a cash advance.

Bankers consider other criteria and may overlook the significance of anticipated credit card-based sales. Although a bank might refuse your business loan application, you could be eligible for a cash advance from Capital for Merchants.

for Bankcards

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bankcards@pittglobal.com

Requirements

You must have been in business for a year or longer
You must have been accepting credit card payments for at least the last six months with a monthly average card volume of at least $2,000
You must own your building or have at least one year left on your lease
You must swipe at least 90% of your credit card transactions
During the term of your advance, you must exclusively process credit card transactions through North American Bancard.

When and for What?

You decide when is the right time for a cash advance. You can use the money for any business expense. For example, you might be considering leasing new equipment, but you realize that you would be paying, through the lease, two or three times the cost if you instead purchased the equipment. If you take a cash advance and buy the equipment, you will save money and own an asset rather than a liability.

Information Needed to Apply

Contact Name
Company Name
Phone Number
Email Address
Fax Number
Type of Business
Credit Card Sales/Month
Sales Volume/Month
How Long in Business
Amount Requested
Name of Current Credit Card Processor

To learn more, ask questions, or start an application, contact PittGlobal at 1-888-PITT-USA or bankcards@pittglobal.com.

Contact/About PittGlobal