Are there pre-payment fees?
Never! We have one flat fee when you are funded. If you pay it off in one day or one year, we don’t charge a penny more.
Can I get a lower rate?
We work hard to making sure you are charged a competitive rate. The exact rate primarily depends our risk assessment during the approval process – so lower risk clients are charged less than those in a higher risk category.
Riskiness is determined by a variety of factors, which can include sales history, inventory levels, seller performance metrics, and others statistics.
What is a factor rate?
A factor rate is a multiplier which is used to calculate the total amount you will pay back, including fees. For example, if the factor rate is 1.25 on $10,000 borrowed, you’d pay back 1.25 x $10,000 = 12,500.
What is the remittance rate?
The remittance rate is used to calculate the amount of your payments. Each time Amazon deposits money to your bank account, this percentage is applied to your Gross Amazon Revenue to calculate how much you will pay towards your balance.
For example: if the remittance rate is 15% and you receive $1,000 from Amazon, you would pay $150 towards your balance.
How is interest calculated on my funds?
We don’t use interest rates – we charge one flat fee, shown to you before you accept the offer. This gives you the advantage of knowing precisely how much you’ll pay back, making it simple and easy to understand!
How do your rates compare to other lenders?
While each offer is different, our rates are generally 25-35% less than other short-term business lenders. Industry-wide “all-in cost” is usually between 30-45% of the amount borrowed, while our rates are generally 20-30%
Unlike our competitors, however, we never charge application fees, technology fees, servicing fees, pre-payment penalties, or adding on hidden costs that drive up the total cost higher than you expect. Because we have having one flat fee, it’s easy to know up-front exactly how much you’ll pay back – so you’ll never feel like you’re being swindled out of your hard-earned money.