Finance

Merchant Cash Advance is not a loan but an advance based on your past receivables; paying the advance with your future receivables, you can’t default as long as you're paying. However, the moment you stop payment, you're a default. Anything fixed will constitute a loan. We highly advise before coming to us; please speak to your funder regarding lowering your payments. If you don't like the situation or the funder didn't comply, come back to us. If you defaulted already, lowered payments, are about to default, or have an old default unpaid. We can guarantee you results and pay everything in full, take off the judgments and UCC filing. Once everything is done, we can fund your business directly for working capital while getting you qualified for traditional financial products by fixing credit and taking steps to your financial goals together.

Every time you miss a payment, stop payments, or default. You will accumulate fees and interest over the current interest; this will be ongoing interest. With me, there will be no ongoing accumulated interest, and you will pay what is owed completely and not what is accumulated over the current interest. So pay for only Lawyers, what you owe, completely getting rid of UCC and judgments. 

If you have 2 MCA, you are paying 2 times the factor rate; I will condense all two into a one-factor rate that will always save you cash flow because we stretched out the term and lower the payments while paying everything in full.

We are not a DEBT SETTLEMENT COMPANY! By definition, debt settlement is the process by which a company negotiates with a consumer’s unsecured creditors overtime for a reduction in principal, which is usually less than the current balance owed. - FTC. Please refer to https://www.ftc.gov/sites/default/files/documents/public_comments/debt-settlement-industry-public-workshop-536796-00022/536796-00022.pdf

Because we paid in full, not less than the current balance!

Based on the FDIC, there is no protection for business regarding business debt. Please refer to

https://www.fdic.gov/resources/consumers/consumer-assistance-topics/debt-collection.html 

https://www.federalreserve.gov/boarddocs/supmanual/cch/fairdebt.pdf

This is why funders will always win and why you always need to pay in full, never for less.

With us, you will have full protection from the funder and have the ability to pay what you can afford and still pay in full. Furthermore, if you have judgments, lien, and UCC, it will be satisfied and take all of them off. Guaranteed by results with our attorneys, experience, and knowledge. Please note if you have taken out a merchant cash advance within 30 days, we can't touch that advance until 30 days past for legal reasons. But, for the other advances past 30 days, we can!

To Start, we required an upfront $2,500 for the attorneys and admins. I will send you an agreement regarding the upfront $2,500 fee once we received the signed agreement and payment. We will move forward.

Documentation:

Signed Agreements

Application Form

Full Page Contracts of each current Merchant cash advances

Debt Sheet

Last 3 Months of business bank statements

A Month to date business bank statement

Driver License

Voided Check or Bank Letter

EIN Confirmation Letter or Business License or Last Year Tax Return

Three Types:

7A Loan, 504 Loan, Microloans 

Before suggesting an SBA LOAN, you must first see if you can get a loan without the SBA and exhaust all options.

If you have a felony, as long as it is not of “moral turpitude,”

Cannot be delinquent on any existing government debt obligations.

A detailed explanation of the use for capital (the SBA will use this in the SBA proceeds section) and a brief explanation of the nature of the business and challenge. How the loan will help the business.

Personal Resume and if have any partner or affiliates need partners or affiliates resume as well.

Must be a small business generally stated in the number of employees or average annual receipts. 

Must be for Profit Business

SBA Application Form

Personal Guarantee 

Articles of Incorporation or Articles of Organization

Leases for commercial real estate

Contracts with third parties (like clients or suppliers)

Franchise agreements, if applicable

Leases for business equipment if applicable

Business License if applicable

Minimum $8,000 Monthly Revenue

650+ Credit Score

170+ Business Credit Score (If you do not have a business credit score, SBA and lender will use personal credit score highly recommended to have a 685+ credit score in this case)

2 years in business

Last 2 Years of Personal and Business Tax Returns

1 year worth of personal and Business Bank Statements

Profit and Loss Sheet

Debt Sheet

Insurance Policy is only needed if you use your business as collateral and may need to add lender as loss payee designation.

Upon Approval, 15% down on loan to SBA.

To start the process, we will need you to sign this form agreeing to pay upfront $2,500 for the services covered by this form; If the SBA deems the service we provided is not worth this charge, we are obligated to refund you the full amount. If you ever get denied, we are obligated to pay you back immediately! We will do the application form for you, put the packages together, deal directly with the bank, communicate with you, and ensure a smooth process. We will be with you from Step A to Step Z, from talking to us all the way to funding. Please note upon funding; we can't legally charge you anything except for the service we have done for you regarding the SBA loan done on your behalf and services covered by this form. 

FORM TO START PROCESS: https://www.sba.gov/sites/default/files/articles/Form_159_-_FINAL_9.10.18.pdf

AFTER THE FORM IS SIGNED, PAY THE UPFRONT FEE FOR THE SERVICES COVERED BY THIS FORM AND FOR DOING THE SBA LOAN ON YOUR BEHALF. ONCE PAYMENT RECEIVE, WE CAN CONTINUE THE PROCESS FROM A TO Z. This is only for 7A and 504 Loan.

Microloans, we charge $2,500 upfront for the services covered by this form and for doing the SBA loan on your behalf, as well as a success fee of 3% of the funding amount upon approval. Therefore, you will need to sign an agreement stating you will pay the upfront fee of $2,500 and the 3% upon approval. After first receiving the signed agreement and upfront payment, we will move forward with the process until approval. 

Qualifications:

Credit Score 680+

Debt to Income Ratio 40%; This is based on your credit report

Last 2 Years Tax Return

Revolving credit under 30% utilization

$50,000 Annual Income

No more than 5 recent Inquiry for last month and current on Credit Report

Can't have 5 declined shown on the credit report for current and last month

Article of incorporation

EIN Confirmation Letter

The term loan is 5 to 7 years ranging from 5.5% to 14% interest rate.

Please note this is a soft pull, not a hard pull.

To Start will need you to sign the agreement to pay $1k upfront and, Upon approval, a 5% fee. If you ever get denied, we are obligated to pay you back immediately; this will be stated in the agreement!  Once we received the signed agreement and $1K payment, we will move forward. 

Documentations:

Application Form

Account Debtor list including Company Name, Address & Phone #, Current AR Aging In Excel Sheet Form showing the invoice date, debtor name, and age of all outstanding receivables. 

Current AP Aging in Excel Sheet Form

Current Financial Statements with comparable for the same period from the previous year 

Last 2 years of Financial Statements (balance sheet, income statement/P&L) 

Any contracts, MSAs, or other agreements in place between the borrower and its debtors, 

Sample Invoices and Backup documentation (PO’s, Invoices & Proof of Acceptance by the debtor)

How are your customers/account debtors, 

how are they billing you (how are service orders received, fulfilled, and billed)

how will we verify that the debtor signed off that the work was completed and has everything they need? To pay the invoice. 

Recourse is 90 days, we can make exceptions end extend recourse under certain circumstances, but it would require you to explain why it takes more than 90 days to receive payment.

If you have current financing in place, a copy of the current contract or loan agreement. 

To Start will need you to sign the agreement to pay $1k upfront and, Upon approval, a 5% fee. If you ever get denied, we are obligated to pay you back immediately; This will be stated in the agreement! Once we received the signed agreement and $1K payment, we will move forward. 

Send All paperwork to ceoxcuvus@xcuvusinc.com

the application form is below: