Q. IS VIP BUSINESS CASH A MEMBER OF THE BETTER BUSINESS BUREAU?
A. Our Parent Company VIP Credit Card Services has been a member of the BBB since 2006, and we have always maintained an A+ Rating.
Q. IS VIP BUSINESS CASH A DIRECT FUNDING SOURCE OR A BROKER?
A. VIP BUSINESS CASH is a broker. Because we are brokers, we work with several different funding sources to find you the best program for your needs. You are never restricted to just one companies rules and guidelines. We simplify the process by shopping for the best deal for you.
Q. WHERE IS VIP BUSINESS CASH LOCATED?
A. WHERE IS VIP BUSINESS CASH LOCATED?
Q. DO VIP BUSINESS CASH PARTNERS ALWAYS FILE UCC -1 LIENS ON THEIR MERCHANT ADVANCES LIKE THEIR COMPETITORS?
A. We understand how important it is for business to keep their financing options open so many of our solutions do not require the filing of a UCC-1.
Q. HOW CAN I FIND OUT HOW MUCH MY BUSINESS CAN RECEIVE?
A. To find out how much money your business qualifies to receive, please fill out the pre qualification form. You will receive a free, no-obligation quote from a VIP BUSINESS CASH Account Executive, who will help you review your funding options.
Q. I AM ALREADY WITH ANOTHER FINANCING COMPANY PROVIDING SIMILAR FINANCING. CAN YOU REPLACE THAT ARRANGEMENT AND OFFER ME MORE MONEY?
A. Yes we can! We often provide higher dollar amounts than our competitors and will pay off your existing balance if it is in your best interest.
Q. HOW MUCH DOES THE FINANCING COST?
A. Each business is unique and, therefore, receives a customized quote based on its particular needs and situation. Several factors influence the size and cost of the financing, including business size, industry, personal credit as well as other factors. To find out how much your business qualifies to receive and the associated cost, apply for a no obligation quote.
Q. WILL BAD CREDIT AFFECT MY ABILITY TO RECEIVE FINANCING?
A. VIP BUSINESS CASH has financing solutions for business owners with strong, well-established credit as well as business owners with imperfect credit. It is not necessary to have good-to-excellent credit to receive financing. We can fund deals with credit scores as low as 540.
Q. HOW MUCH DOES IT COST TO APPLY FOR VIP BUSINESS CASH ?
A. VIP BUSINESS CASH offers a no cost / no obligation quote. We do not charge for "out of pocket" expenses such as credit reports, D&B reports, overnight mailing costs, and so on so there is never an upfront cost to see what you qualify for.
Q. HOW EASY IS IT TO GET APPROVED WITH VIP BUSINESS CASH?
A. Because VIP BUSINESS CASH is a broker, we review your file and submit to multiple funders at the same time. This process allows VIP BUSINESS CASH merchants to enjoy high approval rates and funding in as little as 7 days.
Q. WHAT IF I ALREADY HAVE A BUSINESS LOAN?
A. Our products are designed to work alongside traditional financing. As long as you meet our requirements, we can still provide you with financing without affecting your other obligations.
Q. WHAT CAN CAPITAL FROM VIP BUSINESS CASH BE USED FOR?
A. VIP BUSINESS CASH's financing can be used for any business purpose; payroll, purchasing inventory, repairing equipment, renovations, expansion, reducing debt, and emergencies expenditures. You are free to spend the money on whatever is best for your business
SMALL BUSINESS LOAN PROGRAM FAQ
Q. HOW ARE CASH LOAN PROGRAMS DIFFERENT FROM A TRADITIONAL BANK LOAN?
A. Traditional Bank Programs typically require perfect credit, financials and a business plans; it is typically a long and drawn out process. Our funders focus on a business’s historical cash flow and performance. This allows more flexibility in lending standards. Our lenders focus on the business and not just a credit score, providing you the capital your business deserves. The process is quick and fast, we can typically fund within 7 business days. Our Parent Company VIP Credit Card Services has been a member of the BBB since 2006, and we have always maintained an A+ Rating.
Q. HOW CAN I FIND OUT HOW MUCH MY BUSINESS QUALIFIES FOR?
A. 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 from a VIP BUSINESS CASH Account Executive.
Q. HOW DO I PAYBACK A LOAN FROM VIP BUSINESS CASH?
A. Payments on the loan products are usually paid by a daily ACH that will be retrieved from your business checking account M-F. Fees are not collected on Saturday, Sunday or bank holidays. This allows our clients to know when and how much they are paying towards their loan.
Q. HOW QUICKLY CAN I RECEIVE THE LOAN?
A. Unlike a bank which can take months, our typical approval time from submission is 48 hrs. This quick and easy turnaround allows you to have the peace of mind of knowing your funds are just days away. Our entire funding process typically occurs within 7 business days of submission and receipt of any necessary documents.
Q. HOW CAN I FIND OUT HOW MUCH MY BUSINESS CAN RECEIVE? I AM ALREADY WITH ANOTHER FINANCING COMPANY PROVIDING A SIMILAR FINANCING; CAN YOU REPLACE THAT ARRANGEMENT AND OFFER ME MORE MONEY?
A. Unlike a bank which can take months, our typical approval time from submission is 48 hrs. This quick and easy turnaround allows you to have the peace of mind of knowing your funds are just days away. Our entire funding process typically occurs within 7 business days of submission and receipt of any necessary documents.
Merchant Cash Advance Programs FAQ
Q. HOW DOES THE BUSINESS CASH ADVANCE PROGRAM WORK?
A. We advance you a specified dollar amount based off of your credit card receivables. Repayment is based on a small fixed percentage of your future credit card sales until the pre-determined payback amount is satisfied.
Q. WHAT DO I NEED TO QUALIFY?
A. Our basic qualifications are that you must have a physical location, be in business for at least 3 months, process at least $2500/month of Visa/MasterCard receivables and have at least 1 year left on your lease.
Q. DO I HAVE TO PAY ANY FEES TO GET A BUSINESS CASH ADVANCE?
A. VIP BUSINESS CASH does not charge Application Fees or Points on our Merchant Cash Advances.
Q. HOW OFTEN DO I HAVE TO MAKE PAYMENTS?
A. Your balance decreases each time you process a credit/debit card. 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, MasterCard, American Express, and Discover receivables until your business cash advance is settled.
Q. DOES VIP BUSINESS CASH REQUIRE A PERSONAL GUARANTEE?
A. Most of our Cash Advance products do not require a personal guarantee; however, individuals may be liable in cases of fraud, misrepresentation, and as further detailed in the contract.
Q. CAN THE DAILY PAYMENT PERCENTAGE BE INCREASED AFTER THE ACCOUNT HAS BEEN FUNDED?
A. No. We maintain the percentage till the advanced is paid in full.
