What is a Merchant Cash Advance? Is it a loan?
A merchant cash advance is not a loan. It is a lump-sum payment to a business in exchange for the purchase of a percentage of future card sales. After the merchant receives the advance, repayment happens automatically. There are no monthly billing statements, no invoices, no payment coupons, and no checks to write.
How much of my daily card sales will Quikstone deduct for repayment?
Deductions are based on a fixed percentage of your daily credit card sales. The rate is fixed, but the amount of the payment is not. The amount paid to Quikstone Capital will rise and fall based on your daily card sales, giving your business more flexibility than a traditional loan.
What happens if my sales slow-down or speed up after funding occurs?
A merchant cash advance is structured to accommodate varying sales. Quikstone Capital’s payment is a fixed percentage of your daily sales, and payment amounts rise and fall with your volume. When sales slow, the dollar amount of the deduction is reduced, while when sales increase, the dollar amount of the deduction is increased.
How much funding can my business receive?
Funding amounts vary from business to business, but generally, Quikstone’s cash advances range from $5,000 to $250,000.
I’ve been turned down for a loan by my bank, will Quikstone Capital be able to help me?
Quikstone Capital often provides cash advances to small businesses that have been turned down by traditional lenders. We are more flexible than banks in terms of the types of business we will work with, the purpose for which the funds will be used, and in some cases, the credit history of the company and the owners of the business.
Can my business keep its current card processor?
Possibly, but you may find it more advantageous for your business to switch to one of our processing partners. These partners offer many tools to help you manage your business and make more money. To find out if your current card processor is compatible with Quikstone, contact us at https://jadapay.com/contact-us/
How can I determine if a cash advance is right for my business?
Businesses of all types and sizes can analyze their return on funding based on the total cost of the investment. To determine if a cash advance is right for your business, assess your return on investment (ROI). Calculate short-term ROI with this simple formula: return on investment (%) = net profit/total investment cost x 100.
Here’s an example: Business A (a restaurant) takes a $20,000 cash advance, which has a total cost of $26,000 and uses the money to add 20 new seats. Those new seats translate to $2,000 more profit a week or $104,000 more profit per year. Using the formula, the net profit is $78,000 ($104,000-26,000). So, $78,000/$26,000 = 3.00 x 100 =300%. Business A has a 300% ROI after one year.
See how much money you can make by investing with a Quikstone business cash advance with our ROI Calculator. Our calculator is an estimating tool to help you determine the amount your business may qualify for. Actual cash advance amounts depend on your business’s credit card sales. For a more detailed analysis, contact us.
Is this a one-time-only program?
More than 80 percent of our customers repeat transactions with Quikstone Capital. Customers who have tested the competition usually return to Quikstone Capital because of our honest approach. That’s why we have an A+ rating with the Better Business Bureau. Growing your business is our business, and we’re proud to provide repeat funding to our merchants.