Eliot Management Group has partnered with Express Working Capital to develop a unique program to help merchants get the capital they need without the interest, paperwork and lengthy approval process of a traditional business loan.
“Running a business is costly, and sometimes a business owner needs some additional capital to keep things moving in the right direction, or to take advantage of an unexpected opportunity,” explains Matt Shieve, Vice President Sales Operations for Eliot Management Group. “Our Cash Advance program can provide business owners with the capital they need based on future earnings.”
The program is funded by Express Working Capital, who purchases a portion of a business’ future credit card sales at a discount, with a lump sum of cash. As the business generates future credit card sales, Eliot automatically sends Express Working Capital a fixed, pre-determined percentage from each credit card transaction when it is settled daily. These payments stop automatically when the full amount of sales purchased has been recovered.
“This program is a great way to secure funding quickly without giving up ownership in the business,” says Ken Frisbie, Vice President of Sales at Express Working Capital. “As a loan alternative, there are no fixed payments and it adjusts to swings in business volume.”
A business that processes at least $10,000 a month in credit card sales, has been in business for at least a year, has at least one year remaining on your businesses lease or mortgage and is current with all lease or mortgage payments should qualify. For more information, or to apply, please call 1-866-201-2340.
With 15 years of experience and a nationwide network of local offices, Eliot Management Group, offers a variety of electronic based payment services for businesses. Comprehensive services include: credit and debit card processing; check verification; gift card and cash advance programs. Eliot Provides services to thousands of customers, processing billions of dollars annually in credit card transactions. Eliot believes in a consultative approach and maintains personalized, one on one relationships with all of our merchants, providing them with on-demand support and 24/7 customer service.