Rapid Advance formed in 2005, provides a web-enabled financial services for small and medium sized industries in the United States. It is a merchant cash advance service, which means it is in the business of advancing cash to businesses. In exchange for the service, they receive a portion of future credit card receivables. They also offer a smooth process with multiple financing solutions. They offer a small business loan, merchant cash advances, lines of credit and SBA bridge loans. It provides service to customers in businesses, such as auto repair shops, medical practices, restaurants and others.
Rapid Financial Services, LLC is doing business as Rapid Advance. It meets all the standards for BBB Accreditation and has an A+ rating. Since 2010, it is accredited for continuous 6 yrs. They also offer multiple solutions which help the customer to select the type of financing, which best suits to their needs. Rapid Advance is a leader in the alternative financing industry. They not only provide capital but also give support to their clients, in their efforts to grow their business. They understand the needs of businesses in various industry sectors. Their proven track records and resources help their clients to succeed.
Reasons for Alternative Financing
- Equipment Financing
- Location -Expansion
- Hiring New Employees
- Marketing Campaigns
- Upgrading Technology
- Debt consolidation
- Additional Inventory
- A Variety of loan products: Rapid advance offers traditional small business loans,business cash advance and lines of credit. Customers can access funds, in as fast as one day. For qualified businesses their new Preferred loan offers the lowest rate.
- Online library of helpful resources: They provide helpful small business focused articles, along with a series of marketing and sales tips through their blog.
- Focused on building relationships: They maintain a good relationship with their customers. Once a customer qualifies for their loan programs, and create a relationship they can easily access more capital.
Solutions of Rapid Advance
- Small Business Loans: For the businesses who seeks more than a traditional loan, Small Business Loan Program is the best solution. Unlike traditional small business loans, in this program, there is no need of lengthy applications, documentation. The application based on tough FICO scores will not be rejected and the approval of the application is also done in just a few hours. They deposit the funds within one day. Clients in business for over a year, and make $5000 as revenue in a month can apply for the loan.
- Merchant Cash Advance: This is an innovative financing solution of Rapid Advance. In this program, they provide the working capital in exchange for a future credit card receivables. Repayments are affordable as it is based on a percentage of sales, rather than a fixed monthly amount. Merchant Cash Advance requires no liens or collateral.
- The Line of Credit: When businesses face an unexpected situation, and if it goes beyond control, Line of Credit program provide the financial relief. For people having a stable business, it is the best option. This is very flexible, as long as the businesses use them within their limits. This flexibility allows dealing with occasional cash flow program. It is less expensive.
- SBA Bridge Loan Program: This program helps to eliminate short- term financial strain, and to maximize the working capital, and to protect margins and cash flows. For small and medium -sized businesses in need of capital SBA is a good solution.
- Preferred Rate Loan: For businesses launching a new product, buying new equipment or expanding operations, Rapid Advance helps with Preferred Rate Loan. Monthly fees start at 1.25% of the original funding amount. This program requires a personal FICO score of 660 or higher and being in business for more than 4 years.
Why choose Rapid Advance?
Their aim is to fill the shortage of working capital solutions capital to their customers resulted from the tightening of the credit market.
Easy Access to cash
- High Approval Rate.
- Broad Funding Range.
- Trusted over 75%of qualified merchants to renew the financing with them.
- No obligations.
Smart for your businesses
- Flexibility in Programs.
- Fair and affordable repayment terms.
- There is no restriction on the funds given for the business purpose.
- Fast Funding.
- Quote within 24 hours.
- Approval within 48 hours.
- Deal Direct with the funding source.
- Dedicated Account Executive.
- Trusted member of the BBB.
Rapid Advance supports tens of thousands of small businesses through their financial solutions. They share their success, with their partners by offering several benefits through their program
- Accounts Receivable Financing: Even healthy companies don’t have the financial performance to meet bank underwriting. If Businesses provides products to credit-worthy companies, their accounts receivables may also provide the collateral to obtain funding. Rapid Advance have an extensive network of Account Receivable Finance company partners.
- Credit Card Processors and ISOs: Rapid Advance is not a competitor of merchant processing industry. If their client’s merchant is with a processor, and they don’t have a split funding arrangement with them, then they have a solution to fund the merchant.
- Rapid Action Community Bank Program: This program is fit for traditional store front retailers, manufacturing, medical, transportation, distribution and service companies. It provides the immediate assistance and also ensures a fast and easy process.
- Business Finance Brokers: Rapid Advance help to compliment the current financing options, which finance brokers are offering to their clients. They help finance brokers to obtain financing for a larger number of clients.
- Rapid Action Commercial Finance Program: If the commercial finance companies finance through any type of secured financing, there’s often other needs. Rapid Advance provides a way to meet these, needs without impacting their collateral and security position.
Benefits of Partners
- Customer Growth: They help their merchant’s business by providing capital at a fair and reasonable price. They support their client’s customers to increase their sales. This way their clients can earn more revenue.
- The Difference from competitors: Rapid Advance don’t require personal guarantees. They have options where no UCC -1 is required. They offer higher dollar amounts than their competitors. With one application they bring a complete evaluation of funding options.
- Turn -key Integration: Rapid Advance makes participating in their funding options easily. They provide targeted marketing programs, advanced online reporting capabilities, and an efficient sales approach.
- End to End Service: Partners using Rapid Advance to serve their customer’s various needs develop a good relation and don’t lose their customers from their core service. They earn an upfront commission on each deal funded through Rapid Advance.