Legal Disclaimer

This Site presents some competencies of Fast Capital 360, originate, and risk-manage various types of financial products and services to small and mid-sized businesses, proprietary data and scoring models, workflow solutions, data capture mechanisms and predictive analytics, among others.

MERCHANT CASH ADVANCES

The Site outlines Fast Capital 360’s capabilities. The financial product offered through Fast Capital 360 (partners or affiliates), is the purchasing of a specified amount of a business’s future receivables at a discount. These purchase transactions are typically referred to as “Merchant Cash Advances” or “MCAs.” MCAs are not loans or extensions of credit, but rather true sales of a merchant’s future receivables for which Fast Capital 360 bears the risk of loss. In an MCA transaction, MCAs have no set term, maturity date, or fixed or minimum payment amounts (and, therefore, no late fees or penalties). Business owners are required to guarantee the performance of certain covenants in the MCA agreement, such as the business owner’s covenant to use the designated card processor exclusively or covenant not to place a stop payment on authorized ACH withdrawals. However, MCAs include no personal guarantee of “payment,” such as those associated with traditional loan financing. In the MCA agreement, business owners do not guarantee that they will deliver the purchased receivables nor do they pledge personal collateral to secure such an obligation.

Effective as of November 29, 2014

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