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FAQs
Q: How can EFTPOS FUNDING help my business?
A: EFTPOS FUNDING provides an innovative way of raising working capital for Australian businesses, as an alternative to traditional bank lending. We buy, looking at an asset your business may not realized it had, its future credit card, debit card and EFTPOS sales from its customers.
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Q: How easy is it to get approved and funded by EFTPOS FUNDING?
A: 90% of applicants who meet our basic requirements get approved.
Q: How do I know if I qualify?
A: Your business must be operating and process at least $5,000/month in credit / debit card sales from its customers.
Q: How soon can I receive funds?
A: The average time, from completed application to payment, is typically 10 working days.
Q: Is a merchant cash advance from EFTPOS FUNDING the same as a traditional business loan?
A: No. A merchant cash advance is not a loan. You sell your future credit card, debit card and EFTPOS sales from your customers, to us, at a discount. Then, each evening when you batch, a small and agreed upon percentage goes towards repayment of the advance. This process is repeated until the advance is paid in full. Unlike a bank, there is no fixed payment schedule, no fixed term, no collateral and no endless paperwork to complete. Unlike a bank, we have a 90% approval rate for qualified applicants and can offer quick funding, typically in 7 days or less.
Q: How much money can I qualify for?
A: We can advance between $5,000 and $200,000 per branch. The amount of money you qualify for is typically equal to your monthly credit card / debit card / EFTPOS processing average.
Q: Can I renew / receive additional funds later on?
A: Yes. You must be in good standing, and a certain percentage of the first advance must be paid before you renew.
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For A No Obligation Quote On How Much Working Capital Your Business Qualifies For:
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