Frequently Asked Questions
1. How can MotherFund help my business?
MotherFund's financial solutions are designed specifically to provide working capital to business owners in a fast and convenient process. We get you the cash when your business needs it. Unlike the typical bank loan, MotherFund's products and services provide you with the flexibility to choose how you spend the cash for your business enhancement and a performance based repayment plan that promotes your individual business growth.
2. What is a Merchant Cash Advance and how does it work?
A Merchant Cash Advance is a simple funding product that allows a business to access working capital based on future credit card sales. The way it works:
Step 1 – Your business agrees to sell an amount of its future credit and debit card sales at a discount.
Step 2 - Once approved, your business will receive the purchase price ($10,000-$2,000,000) putting tomorrow's sales to work for you today.
Step 3 – The credit card processor sends a percentage of your daily sales until the outstanding balance is zero.
Step 1 – Your business agrees to sell an amount of its future credit and debit card sales at a discount.
Step 2 - Once approved, your business will receive the purchase price ($10,000-$2,000,000) putting tomorrow's sales to work for you today.
Step 3 – The credit card processor sends a percentage of your daily sales until the outstanding balance is zero.
3. How do I qualify for a Merchant Cash Advance?
If your business has been in operation for 2 months or more and you process at least $10,000 in monthly credit card sales, we can design a financial product for you. With proof of an active/current lease and no pending bankruptcies, MotherFund can begin to get you the money you need for your business today.
4. How much cash can I qualify for?
We look at an average of 6 months worth of your visa/master card credit card volume and can advance you up to 100% of the average monthly visa/master card credit card amount.
5. How quickly can I receive the funds?
Our pre-approval process takes about 24 hours. Upon approval, funding can be completed within 7 to 10 business days. So, the faster we receive all your documents for the review process the sooner you can be on your way to having the cash in hand.
6. Will I need to change my credit card processors?
We work with many processors and if you are using one we don't work with, we operate with a guarantee to meet or beat your existing credit card processing rates and we will aid in POS conversion to facilitate a smoother merchant cash advance experience.
7. How may I use the money?
Your funds are directly deposited into your business checking account to be used at your discretion for any kind of business expenditure such as renovating, obtaining new inventory, pay role, advertising/marketing--any business purpose.
8. What does it cost?
Our application process is free and there are no ongoing fees. Pricing is based on your projected future sales. When you sell a product or service that's when we get paid back.
9. How do I get started?
We've made the application process fast and efficient by providing you with our online pre- qualification form. Just fill this out and send it to us and we will contact you within one business day. For a more immeditate response, please call MotherFund at 866-923-6710 and a specialist will be happy to help you with the process.
Still have questions? Please call MotherFund at 866-923-6710.
In order to succeed, we must first believe that we can.
– Nikos Kazantzakis
We are in the business of financing small business so ask MotherFund for your next advance.
