Repayment Process
Franchise Financing USA recognizes the importance of being flexible and offering multiple different repayment methods to our customers. We have partnerships with large established merchant processing companies that are compatible with your current processing equipment and can offer significant monthly savings in your processing fees. We also have designed 2 other alternative repayment programs which are mentioned below.
Changing Credit Card Processors
90% of our customers choose to change to one of our preferred credit card processors because we guarantee to lower the merchant processing fees. If the credit card equipment you are currently using is compatible, you can continue to use that equipment. If for some reason it is not compatible, Franchise Financing USA will send you a new machine absolutely free. Once the processing is switched over, we will wire the funds to your account. Once the funds hit your account, the processor will start automatically deducting the agreed-upon fixed percentage from your credit card sales to pay back the advance.
Don't Change Current Credit Card Processor
The first option you have to stay with your current credit card processor is our Automatic Debit program. This option is very simple. Provide Franchise Financing USA with online access to your merchant account so that we will be able to monitor your daily credit card sales. One of our customer service analysts will wait for the credit card sales to deposit to your bank account, and then debit the agreed-upon fixed percentage that is owed to pay back the advance.
Lockbox Account Program : The second option is to stay with your current credit card processor and Franchise Financing USA will set up a 3rd party Lock Box Account. The only difference on this option is the bank account into which the credit card sales are being deposited. This program is extremely customer friendly. Franchise Financing USA will set up a new bank account or Lockbox Account where your daily credit card sales will be directed into. We will contact your credit card processor to instruct them to send the credit card sales to the new account. Once the credit card sales begin being deposited into the new account, Franchise Financing USA will start withdrawing the agreed-upon fixed percentage to pay back the advance and send the remaining part of the credit card sales back to your main operating account. You will maintain online access to be able to track your account and balance.