Q: What kind of financing is available?
EFTx provides a variety of funding options ranging from traditional loans, factoring, as well as numerous types of cash advances. We try to find the best overall match available based on your specific needs.
Q: How much capital can I obtain from my business?
Depending on your volume we typically fund up to $350,000 on advances but higher amounts are definitely possible for qualified businesses. We can fund substantially more on loan and other types of programs also based on the businesses qualifications.
Q: How do we determine the amount of funding?
We typically require the last 12 months bank statements as well as the last 12 months credit card statements (if applicable) review the average amount of business deposits while taking into consideration your business's cash flow situation as well as various other factors to determine the amount you would qualify for.
Q: Does it cost anything to apply?
There is no application fee for the cash advance. Some of our financing or processing partners may require a small fee. (which typically occurs after approval). So by working with us you have everything to gain and nothing to lose.
Q: How long does your approval process take?
In most cases we can complete the process within 10 business days (though often as quick as 3), but if we need to present your application to more than one funding source, it may take slightly longer.
Q: What can I use the funds for?
Unlike a bank we have no restrictions on the use of the funds. The funds can be used for renovations, equipment purchases, purchasing of inventory, advertising campaigns, buying out a partner or whatever you desire.
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