FAQ : Apply For A Small Business Loan : Restaurant Loan : Operating Capital : Cowboys Retail Solutions

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F.A.Q.

I’ve been turned down for a loan by my bank, will CRS be able to help me?
Unlike banks, CRS is not a “traditional” financial institution lender. CRS is often able to enter into a receivables purchase transaction for businesses that banks would not lend to. CRS is more flexible than banks in terms of the types of business it will work with, the purpose for which the funds will be used, and in some cases, the credit history of the business and the owners of the business.

There are some problems with my credit, can I still get help from CRS?
Unlike banks, CRS has greater flexibility when it comes to reviewing past credit experience. We do not enter into transactions with merchants who are currently (or about to become) involved in bankruptcy proceedings. But, credit problems in the past can typically be overcome by a demonstration of current business strength accompanied by a strong likelihood of continued good business trends.

How much of my daily Visa and MasterCard sales does the funding company deduct?
Once the purchase price, total amount to be purchased, and estimated payment period have been determined, CRS calculates a daily payment amount required for CRS to receive the amount of Visa and MasterCard receivables sold. After your business is funded, automatic, small deductions are made from your daily Visa and MasterCard sales.

What is the maximum funding amount?
CRS’s minimum funding amount is $5,000 and the maximum amount is $3,000,000. The amount CRS will fund your business depends upon the average monthly Visa and MasterCard sales for your business, as well as the strength and creditworthiness of your business.

Is this a loan, or purchase of assets?
Depending on who funds your deal some are loans and some are the factoring of future credit card sales.

The particular kind of future receivables that CRS buys is Visa and MasterCard sales. Let’s look at an example: If CRS buys future Visa and MasterCard sales from The Cady Shack, after the funding date, CRS will gradually deduct scheduled payments from The Cady Shack Visa and MasterCard sales. There are no monthly billing statements, no invoices, and no payment coupons for The Cady’s Shack to review, and no checks for The Cady Shack to write – the repayment happens automatically.