We offer several options to help monetize your future receivables. Merchant cash advances and invoice purchasing are our two most popular programs. You're paid up front and we receive a percentage of each future sale until a pre-determined amount is collected.
Sometimes referred to as a business advance or a merchant cash advance, purchasing future receivables is not the same as a business loan. Instead, this is the sale and purchase of the proceeds from your businesses future sales. Simply purchases receipts expected to be generated from your businesses future sales. Simply receives a certain percentage of the future daily sales receipts, or a fixed daily amount estimated to equal this percentage. Your business either authorizes the its credit card processor to send the agreed percentage of daily sales receipts directly to Simply or authorizes Simply to ACH the agreed amount from its checking account. These amounts are transferred until Simply has received all of the future receipts it has purchased.
Invoice purchasing and project financing are excellent programs for any business with ongoing work-in-progress. Construction companies, government contractors, and consultants are some of the business types that benefit from invoice purchasing.
The entire process normally takes just a few business days. First, we will review your business and its history to determine if we would like to buy your future receivables. You will need to submit a few documents, such as bank statements, so we can make our decision. Simply would then fund your business upfront in exchange for a larger amount of future receivables collected at a later date or over a period of time.
$25,000 Max Funding
500+ Credit Score
3+ Months in Business
$10,000+ Monthly Sales
$500,000 Max Funding
680+ Credit Score
3+ Years in Business
$50,000+ Monthly Sales
$250,000 Max Funding
550+ Credit Score
1+ Years in Business
$10,000+ Monthly Sales
We collect a percentage of your sales from your checking account, credit card processing transactions, or vendors depending on the program.
Simply buys your future receivables at a discount. For example, in exchange for $10,000 today, you agree to sell $10,800 of your future sales as they are realized.
No. You do not need to accept credit cards. We consider all forms of business receivables while reviewing an application, including cash, checks, and invoices.
P: (800) 661-1864
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