No jargon. Here’s how the money works, what it costs, and what you’re agreeing to.
Up to $1 million against your future revenue.
Apply in minutes. Fast approvals, 24 hour funding.
The product
A funder buys a set amount of your future revenue at a discount and gives you the money now.
Say a funder advances $100,000 and buys $130,000 of your future receipts. You get $100,000 today and remit until $130,000 is paid. The $30,000 is the cost.
This is a purchase, not a loan. No interest accrues, no amortization schedule, no monthly statement. The amount is fixed on day one and it stays fixed.
Figures are illustrative and shown to explain the timing gap. Your numbers will be your own.
Repayment
Repayment comes out of your business account automatically, daily or weekly, in fixed amounts set at closing.
Daily on a 12-month, $130,000 payback runs roughly $520 a business day. Weekly on the same deal runs roughly $2,600.
Weekly is easier to live with for most businesses and it’s worth asking for. We ask for you.
Figures are illustrative and shown to explain the timing gap. Your numbers will be your own.
Cost
Cost is expressed as a factor rate, a multiplier rather than a percentage. A factor rate of 1.30 on $100,000 means you remit $130,000.
A factor rate is not an interest rate and it doesn’t compare to one directly. The same advance over six months and over eighteen costs identical dollars and does very different things to your cash flow.
Two numbers decide every comparison. The total dollars you remit, and the amount that leaves your account each day or week.
Get both in writing on every offer. We put both in front of you on all of them.
Underwriting
Steadiness matters more than size. Twelve deposits at $20,000 reads better than two at $120,000.
More history means more to underwrite against.
How your balance behaved over the last three months. This moves more offers than credit scores do.
What you’re carrying and to whom.
Some funders are excellent in your trade and some never touch it.
One input, weighted differently by every funder.
UCC filings
Most funders file a UCC-1 against the business. It’s a public notice that they have an interest in your receivables.
It isn’t a lien on your equipment, your building or your house, and it isn’t a judgment. It runs five years unless terminated or continued, and other funders can see it.
If the need is 90 days out and you qualify for a bank product, take the cheaper money. An advance is priced for speed.
An advance bridges money going out and money coming in. That’s the job it does well.
Remittance stacks. We’ll show you what another position does to the account before you decide.
We say all three out loud, and we say them early. It’s the fastest way to get you to the right answer.
Comparing offers
Ask both questions of every offer on your desk.
What are the total dollars I remit? Not the factor rate. The dollars.
What leaves my account, and how often?
Then divide. Two offers can cost the same in total and feel completely different on a Friday.
Ask what early payoff does, too. Some funders discount it meaningfully and some don’t. We ask for you.
Figures are illustrative and shown to explain the timing gap. Your numbers will be your own.
Berkley
We know which funders want which kind of business, and how an application has to be built to get the strongest answer out of them.
That’s the whole job, and it’s why the same business gets very different results depending on who’s handling it.
Berkley is a brokerage, not a funder. The funder makes the decision and sets the terms.
Apply in three minutes and we’ll tell you where you stand today.
Apply in minutes. Fast approvals, 24 hour funding.
Berkley Financial Group LLC is a funding brokerage, not a lender. Funding is arranged by Berkley and provided by third-party funders, who make the credit decision and set the terms. Not a commitment to fund. All financing subject to the funder’s approval.