Dealers are often your direct sales staff and have to tell their customers if their financing was not approved. Think about how much easier it would be for the salesperson to offer another alternative at that time.

Selling Benefits

• Provides an alternative to paying cash

• Allows the customer to get equipment and let the use of the equipment pay for itself

• We can advance funds in the USA and Canada

• Quick Turn time, preliminary approval in 24 hours.

• Money can be used to purchase equipment or any other working capital use.

• No collateral

• No personal guaranty (unlike leases)

• Funding in as little as 7 business days

• No upfront fees

• Automated collection from daily credit card receipts

• Small daily payment eliminates cash flow issues

• Short term and easy renewal access.

• Flexibility in customizing program to your customer specific need.

If the customer has been turned down by a leasing company

We strongly recommend that you not inform the customer of the credit rejection until you have our advance number in hand and can offer them our alternative financing option.

The most successful method to find out what size advance the customer will qualify for is either fill out the online “Customer profile” or print one up, (link) fill it out and send it in to us.
We will get back to you generally in 24 hours to tell you how big an advance the customer will qualify for. We will let you know the terms we are offering and either you or we can present it to the customer. Keep in mind that to your customer we are strangers and they will relate to you more quickly than to us.

Simple Approval process

1.  Send the customer profile to Advance Credit and we can give you a preliminary approval, amount and terms within 24 hours

2. The complete application along with required documents must be submitted to Advance.

3. All documents can be emailed to sales@advancecredit.com,  faxed to 734-929-3800 (on fine setting please,) mailed or sent by overnight to Advance Credit Funding Corporation, 3830 Packard Street, Suite 160, Ann Arbor, Michigan 48108

4. Underwriting will review the file and issue a final approval or denial in 48 hours.

5. Funding will take about three days

Example transaction:

A two month old restaurant is averaging $20,000.00 in monthly credit card sales and wishes to purchase $15,000.00 of equipment. The restaurant will not qualify for a lease but qualifies for a $20,000 advance and the payback is to be $27,000.00 over 7 to 8 months. The $7,000.00 is generally less than the total interest paid on the 5 year lease.

Advance Credit protects you by advancing $5,000.00 to the customer and holds back the $15,000.00 needed for the equipment assuring you of full payment.

• The Restaurant receives $700.00 per day in total credit card sales.

• $140.00 (20%) per day goes to pay advance (leaving $560.00 daily plus the advance as working capital)

• The customer can determine the payback percentage

• The higher the % the faster the payback

• The lower the % the less the customer receives.

• Once 50% has been paid back ($13,500) the customer can renew for another $20,000

Let Advance help make the sale

Form links:

Complete application
Customer Profile
Customer Sales Literature