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SimpleCash™ provides short term funds to business customers by purchasing a merchants future sales. We are then paid back automatically and directly from the merchant’s daily credit card settlements from Visa and MasterCard.  Our customers consist of small to medium size businesses interested in growing their own companies and in need of capital. Although SimpleCash takes into consideration the credit worthiness of the business and its owner, they primarily advance cash based on future credit card receivables. This process enables our Company to provide small to medium-sized merchants’ access to working capital that may otherwise be unavailable to them.
The advances can range from $2500 to $250,000. Because there are no fixed terms like with a traditional bank loan we get paid back anywhere from 6 – 12 months from the date of the Merchant Cash Advance depending on the volume of credit cards sales. Conventional bank borrowing is generally more difficult to secure and takes much longer to consummate than funding through SimpleCash. Traditional lenders normally require some form of collateral whereas we do not. With traditional bank funding, a large percentage of small to medium-sized companies are turned down due to their imperfect credit rating. If a small business is fortunate enough to obtain financing, most banks frequently require collateral which far exceeds the loan amount. Since traditional banks are "loaning" money, their services are quite limited. Conventional borrowing also creates debt which is carried on a company’s balance sheet whereas the SimpleCash advance gets booked as a sale. We believe our management team’s prior experience and knowledge in providing working capital to businesses and electronic payment processing services to small merchants gives them the ability to effectively identify, evaluate and manage the payment processing needs and risks that are unique to small businesses.
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