Processing

The step before the final funding, is the method in which the lender will collect the percentage of Visa/MasterCard sales.  Most lenders prefer to switch over the merchant’s processor to one of their preferred processors.  A business cash advance lender will have a relationship with certain processing companies that allow them to perform “split processing.”  In this method, a merchant will batch out of his machine at the end of the day, and the processing company will deliver the required percentage of Visa/MasterCard sales to the lender, and the remaining due percentage to the merchant’s bank account.  Most times, competitive lenders will be able to match, if not beat merchant’s current rates with their processing companies.

Other methods including Automated Clearing House (ACH) and Lockbox (sweep account).

To read about the final process of funding!

To read more about ACH and Lockbox methods!