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NRS Funding FAQ
How can NRS Funding help my business grow?
NRS Funding is a division of National Retail Solutions, that was created to provide capital to merchants who need funding quickly and easily. We look primarily at the strength of your business deposits. This allows you to receive money without the usual hurdles a bank loan has making it much more accessible.
How does the program work?
Is my business eligible for a NRS Funding cash advance?
Eligibility can be determined by filling out a one page application which is completed in less than 15 minutes, along with sending your most recent bank statements and merchant processing statements if applicable. Generally, to qualify, your business will need to average at least $15,000 in monthly deposits. Must have been in business for at least 6 months. After we have received your information, a funding specialist will discuss your options with you.
What can I use the money for?
Funds can be used for any business need. This could include buying, repairing or replacing equipment which could interrupt business. Purchasing inventory. Expansion, refurbishing or payroll. Increased marketing and advertising, or covering for an unplanned emergency which requires immediate cash.
Why should I choose an
MCA over a traditional loan?
In contrast to a traditional bank loan that accrues interest, with a Merchant Cash Advance you receive a lump sum at a set cost. You are able to qualify and receive an MCA without a lot of the hassle and paperwork a loan typically requires. You will not be required to put up equipment or real estate as collateral, nor will you need to provide financial plans, cash flow projections or marketplace analysis. The process is quick and simple to provide you fast funding.
Will a quote from
NRS Funding affect my credit score?
Your credit will not be affected when exploring your options with a free no obligation quote. If you accept an offer and proceed to funding, then a credit check will be done in the course of providing the funding, as with any other credit or funding process.
When I am approved, how fast can I expect the funds?
Funds can be available to approved applicants in as fast as 24 hours after we have received all the required documentation.
What if I have poor credit? Can I still qualify for funding?
Bad credit is not a problem when applying for capital with NRS Funding. One of the advantages of choosing us to receive funding is our high approval rates. We are able to determine qualification for our program through our free quote, with the driving factor being the strength of your business.
*Cash advances are either made by National Retail Solutions, Inc (“NRS”) or by third parties not affiliated with NRS. Approval for advance based on financial and business history of merchant. All advances are subject to review and approval by either NRS or by third party funders.
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