Credit Card Factoring
Credit Card Factoring is a solution aimed at retailers who take receipts from credit cards. It provides an advance against the future credit card receipts. This can provide retailers with a valuable injection of cash.
What are the criteria for credit card factoring?
- Company needs to have been operating for 12 months
- Company needs to show 12 months card processing statements
- Must have 1 year left on lease
- Company must be in good standing with their credit card company
How does it work?
- An application form needs completing
- An amount of finance is agreed
- Repayments are an agreed percentage of daily receipts via the card machine
- Renewels or top ups can be offered
- If you are a retailer looking for an advance against future card machine receipts give us a call today on 0845 863 0738
