Frequently Asked Questions
A. Our program offers a fast and convenient way for business owners to get the cash they need to run their company. It is not a business loan, which means no checks to write, no fixed monthly payments, and none of the restrictions/excessive documentation typically associated with a bank loan. Approval rates are much higher than a bank loan and funds are typically wired to your business account within 10 days. Repayment is based on a small fixed percentage of your future Visa and MasterCard receipts until the pre determined payback amount is satisfied. We get paid as you get paid thus helping you manage the cash flow of your business, especially during slower months.
A. Our basic qualifications are that you must have a physical location, be in business for at least 1 year, process at least $3500/month of Visa/MasterCard receivables and have at least 1 year left on your lease. To find out how much you qualify for, simply complete the online application and provide some basic information. You will receive a free, no obligation quote within 24 hours from a Globelend Account Executive who will review your funding options.
A. This is not a loan; therefore there is no prepayment penalty, no fixed payment schedule, no maturity dates, and no minimum monthly payments. At any time, you can choose to settle the advance by paying the remaining balance in full.
A. Globelend 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.
A. Each business is unique and therefore receives a customized quote based upon its specific needs and situation. Several factors influence the size and cost of the Business Cash Advance, including; business size, industry, processing history, volume, ticket size, and various other factors. To find out how much you qualify for and the associated cost, simply apply now for your no obligation quote.
A. Globelend does not charge Application Fees or Points and you can receive a free, no obligation quote by completing our simple online application.
A. A Business Cash Advance is not solely based on your credit score; therefore it is not necessary for you to have good to excellent credit to receive an advance.
A. We get paid as you get paid. You never have to write a check. Our automated process is designed to work with your credit card processor to collect a small percentage of your daily Visa and Mastercard receivables until your business cash advance is settled.
A. Our proprietary approval process allows Globelend merchants to enjoy high approval rates and funding within 10 days.
Qualification is easy:
- Have you been in business for at least 6 months?
- Is your monthly Visa/MasterCard volume at least $3,500?
- 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.
A. Contact us to find out specifically how much we can offer you. We often offer larger advances than our competitors and will pay off your existing advance if it is in your best interest. Call us today to find out how much you are qualified to receive.
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 the contract.
A. No. We maintain the percentage till the advanced is paid in full.
A. Yes. We offer three funding programs (i.e. 4 months – 18 months) based on the merchant’s needs.
A. Our product is a business cash advance, not a business loan. As long as you meet our requirements, we can still provide you with immediate cash, without affecting your other obligations.
A. Your Business Cash Advance can be used for any business purpose, including: purchasing inventory, repairing equipment, renovations, expansion, reducing debt, or emergencies expenditures. You are free to spend the money on whatever is best for your business.
A. Globelend Customer Service is available to assist you:
Monday – Friday: 8:00 am to 6:00 pm EST
Click here to contact Customer Service on-line.