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Frequently Asked Questions

  1. How can I qualify for a business cash advance?  
    • You’d need to have a business that has been fully operational for the last 12 months and located in the U.S.
    • Your business either has monthly deposits averaging at least $15,000 OR processes a minimum of $4,000 per month in credit card transactions.
    • You can provide at least three (3) months of business bank account statements.  If you would like an advance based solely on credit card sales, you will need to provide three (3) months of processing statements.
  2. How easy is it to get approved?  
    • Applications are pre-qualified within 4 hours and funded within days. It’s a lot faster and easier than a conventional bank loan.
  3. How can I speed up my cash advance approval?  
    • By filling out the Application we send you, along with 3 Business Bank Statements. 
  4. How does the program work?  
    • FainFinance purchases a fixed amount of future receivables from you.  Then, over a period of 6-15 months, a pre-determined percentage is withheld from credit card receipts or deducted from your bank account until FainFinance has collected the full amount of receivables that it purchased.
  5. Is there a fee for providing a business cash advance?  
    • No, the application is free. FainFinance does not impose any up-front charges whatsoever.
  6. Will bad credit affect my cash advance request? 
    • No, it is not necessary for you to have good personal credit to receive a business cash advance. The average FICO score of our clients is under 575.
  7. How quickly can I get a business cash advance? 
    • You can obtain your advance as quickly as 3 days after you submit your application, accompanied by the required documents.  If additional documentation is required, it can take 5-7 days.
  8. How will I pay back the business cash advance? 
    • Payback is automatically deducted from your bank account or a predefined percentage is taken from daily credit card receipts.
  9. Is this a loan? 
    • No, this is not a loan. It is a purchase of your businesses future receivables.
  10. How easy is it to apply again and get another advance? 
    • If there has been no significant change in your financial status, applying for another cash advance from FainFinance is fast and easy. Usually we can advance you additional funds within 2-3 days of receiving your request.
  11. Is the paperwork complicated? 
    • The required paperwork is very simple and takes no more than ten minutes to complete.