Frequently Asked Questions

Below are some common questions about Principis Capital products and services.

1. How can I qualify for a business cash advance?

You have a business that has been fully operational for at least 12 months, and that has accepted VISA, Master Card, American Express or Discover cards as a form of payment for at least six months.
Your business processes a minimum of $5,000 per month in credit card transactions
You can provide four (4) months of past processing statements
Your business has at least one brick-and-mortar location (office that is not based in your home, or a warehouse, retail sales outlet, or manufacturing location).

2. How easy is it to get approved?
It is a lot faster and easier than a conventional bank loan. We understand the reality and the hardship of owning and operating a small or medium sized business. The majority of applications are prequalified within 24 hours of receiving the application and documents, and funded within 5-7 days.

3. How can I speed up my cash advance approval?
Fax your one-page application, credit card processing statements and bank statements to us at 866-295-8391. Submit in a timely fashion any information you might have omitted from the application. Provide documentation to explain all items that may create questions regarding your credit report.

4. How does the program work?
You are advanced an amount based on your current Visa/MasterCard/American Express or Discover Card sales receipts. Then, over a period of several months, a small percentage is deducted from your ongoing credit and/or debit card receipts. There are no fixed payments and no fixed term.

5. Is there a fee for providing a business cash advance?
No, the application is free. Principis Capital does not impose any up-front charges or administration fees.

6. Will bad credit affect my cash advance request?
It is not necessary for you to have good personal credit to receive a business cash advance. The average FICO score of our clients is under 600.

7. How quickly can I get a business cash advance?
You can obtain your advance as quickly as 7 days after you submit your application accompanied by the required documents. If relevant documents are missing or difficult to obtain, the process may take somewhat longer.

8. How will I pay back the business cash advance?
Payback is automatically deducted from your bank account daily, based on a low set percentage of your daily Visa/MasterCard/American Express/Discover Card receipts.

9. Is this a loan?
No. This is not a traditional business loan or a bad credit business loan. It is a purchase of future receivables.

10. How easy is it to apply again and get another advance?
If there has been no significant change in your financial status, applying for another cash advance from Principis Capital is fast and easy. You do not have to wait until your first advance is fully paid off. Usually we can advance you additional funds within 2-3 days of receiving your request.

11. Is the paperwork complicated?
The required paperwork is fairly simple and takes no more than ten or fifteen minutes to complete. Download our one-page application now! If you have any questions on the application, just call us at 866-311-5463 and our Funding Specialists will be happy to walk you through the process.

12. Can I receive an cash advance from Principis while an advance from another company is still outstanding?
Yes, but any outstanding cash advances must be repaid from the proceeds of our first advance to you.

13. I have high enough overall sales, but my credit card volume is relatively low. Is there any way I could receive funding?
Yes. We work to tailor our products to suit our customers’ needs, so just ask us. In order to qualify for our merchant cash advance program, your business must process a minimum of $5,000 per month in VISA/ MasterCard/American Express/Discover Card transactions.

14. Can the advance be renewed?
When the business cash advance balance is down to approximately 50% of the original balance, you can request a renewal. As a matter of fact, most of our customers opt to do so. The business owner can request a renewal by phone, fax or e-mail. Renewals are usually funded within 3 days of their request.

15. Do I have to switch my current credit card processor?
Not necessarily. In some cases, you will be able to remain with your current processor. We have a lockbox solution that allows merchants to stay with their current processor; alternatively, there is a lookup program that accomplishes the same purpose.

Need further resources?
Principis Capital can help you with answers to questions about merchant and business cash advances. If you have questions that cannot be answered through the Principis Capital Business Resources section of this site, please feel free to contact us directly or to speak with your ISO sales agent. Our library of resources is always growing, so bookmark this site and check back frequently for more assistance.

Apply Now for a Business Cash Advance by filling out the form on the right or call us at (866)-311-5463 for an instant answer!