RapidAdvance1 Frequently Asked Questions
Q. How easy is it to get approved by RapidAdvance1?
A. Over 80% of our applicants get approved and funded within 10 days. We use a streamlined approval process that requires minimal documentation. Qualification is easy:
* Have you accepted Visa/MasterCard transactions for at least 6 months?
* Is your monthly Visa/MasterCard volume at least $2,500?
* Are all prior bankruptcies resolved?
* Do you have at least one year remaining on your current retail lease?
If you answered yes to these questions then you should apply.
Q. I am already with another financing company providing a similar financing, can you replace that arrangement and offer me more money.
A. Contact us to find out specifically how much we can offer you. We often offer larger advances than our competitors and will payoff your existing advance if it is in your best interest. Call us today to find out how much you are qualified to receive.
Q. How much does it cost to apply for RapidAdvance1?
A. RapidAdvance1 offers a no cost/no obligation quote. There are no up-front fees and we do not charge for “out of pocket” expenses such as: credit reports, D&B reports, overnight mailing costs, etc.
Q. Does RapidAdvance1 require a personal guarantee?
A. No. Our Cash Advance does not require a personal guarantee, however, individuals may be liable in cases of fraud, misrepresentation, and as further detailed in contract.
Q. Can the daily payment percentage be changed after the account has been funded?
A. No. We maintain the percentage till the advanced is paid in full.
Q. I need a longer term than 6 months. Do you offer such terms?
A. Yes. We offer a 6 month and an 8 month program based on the merchant's needs.
Q. What if I already have a business loan?
A. Our product is an advance, not a loan. As long as you meet our requirements, we can still provide you with immediate cash, without affecting your other obligations.
Q. What can the Merchant Cash Advance be used for?
A. RapidAdvance1 places no restrictions on how the Merchant Cash Advance can be used for your business. Some common uses include expansion/remodeling, purchase of new equipment, purchase of inventory or seasonal merchandise, payoff of debt and taxes, and emergency funding.