Funding situations
The revenue-based tier allows up to two current positions. At three, the route is not a fourth advance, it is fewer.
✓ Checking what you qualify for does not affect your credit score.
At Merchant Fund Express, here is the short answer: The revenue-based tier allows up to two current positions. At three, the route is fewer positions through payoff, buyout or consolidation.
Up to two current positions are allowed, and a balance of $100,000 or less can often be bought out. Three open advances puts a file above the limit, and the first step is to count the real payment load.
| Advance | Payment | Monthly |
|---|---|---|
| Advance 1 | $310 daily | $6,727 a month |
| Advance 2 | $1,100 weekly | $4,730 a month |
| Advance 3 | $220 daily | $4,774 a month |
| Total | $16,231 a month |
All figures in worked examples are illustrations of the arithmetic, not offers or quotes. Real terms depend on your file and the funder.
Source: Merchant Fund Express.
Finish the smallest balance first if it is near done.
Combined balances of $100,000 or less can often be bought out.
Replace all three with one weekly payment.
See multiple advances, consolidation and two open advances.
Three advances total $16,231 a month and the account goes negative every Monday. A consolidation pays off all three and replaces them with one weekly payment. The account stops going negative, and the owner is back inside the two-position limit.
Source: Merchant Fund Express.
Not beyond the limit; consolidation is the usual route. That is how Merchant Fund Express reads it on a real file.
A consolidation typically lowers the payment and lengthens the term.
List the three balances and payments and call.
Sooner is better, before a debit bounces.
Merchant Fund Express gives a same-day decision. Applying takes a few minutes and will not affect your credit score.
