Assure Funding understands that when a merchant needs to borrow money, the two most important factors are the cost of the loan or advance and the terms of repayment. While loan interest is typically calculated by APR, or annual percentage rate, many of our funding partners charge a fixed cost based on the amount of the loan or advance.
As a business owner, you work hard to keep expenses at a minimum in order to keep your business profitable. The factor rate on a cash advance can become a problematic expense if you don’t take the time to find the lowest rate available.
Assure Funding has a network of lenders that allows you to shop for the best rate to fit your budget. We work hard to offer the most competitive rates, allowing you to keep more of the profits you work so hard to earn.
Fixed Cost Rates
As an alternative to interest accrued based on an annual percentage rate, or APR, many of Assure Funding’s lenders offer advances with a fixed cost. There are a number of factors that are taken into consideration when calculating the fixed cost, including you and your business, and the funding product you choose. On average, the fixed cost can range from 12 to 40 cents per each dollar funded.
Flexible Repayment Terms
Assure Funding chooses lending partners based on many factors, one of which is their flexibility on repaying a loan or advance. Depending on the type of loan or advance you choose and the amount borrowed, repayment terms range from a few months up to two years. The average term among our network of lenders ranges from 6 to 10 months.
Assure Funding also offers you two ways to make payments toward your loan or advance. The two options are: