FlexxALL - 100% Approval Financing Regardless Of Credit Score:
- * Customer doesn’t have to own a credit card
- * 12 months same as cash program
- * Loans up to 24 months (36 months in certain cases) at competitive rates
- * Amounts up to $17,000
- * Funds deposited into your bank account
Here’s how it works:
On tier 4 the business is advanced 50% on the financed amount. The lender retains the monthly payment until they are paid 135% of the amount that was advanced. So, if the advance amount is $1,500, the lender keeps the payments until they are paid back $2,025. After that, the business receives 70% of the payments and the lender receives 30% of the payments in real time. The distribution is for the term of the loan.
On tier 5, it works the same except that the merchant is advanced 30% of the amount financed and the split is 80/20 after the lender is paid back 135% of the amount financed.
There is a recourse in the event the borrower defaults in the first 1-3 months. The number of months of the vulnerability depends on the strength of the business and the product/service.