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SAGE STARTS CASH ADVANCE PROGRAM
Sage North America has started Sage Advanced Funding, a financial service through which its participating companies will provide cash advances of up to $150,000 to merchants who utilize Sage Payment Solutions. The official description is that “Funding amounts are based on future credit card sales, and are provided with no fixed payments, no fixed pay-off date, and no manual processes; the system is completely automatic.
In most cases, no business plan or business/personal financial information is required to apply for funding.” Business owners sell a fixed dollar amount of future credit card sales to one of the participating companies at a discount and receive a lump sum advance. A percentage is collected from each settled credit card sale until the loan is repaid.
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