Frequently Asked Questions

Small Business Financing

How do the Nexus Financial Services’ financing programs different from a traditional bank loan?

Our focus is on a business’ historical cash flow and performance provides us with much more flexibility in our lending standards. This allows us to focus on the business and not just a credit score, providing you the capital your business deserves.

How can I find out how much my business qualifies for?

To find out how much you qualify for, simply complete the online application and provide some basic information. You will receive a free, no obligation quote from one of our Financial Advisors who will review your funding options.

How do I payback a loan from Nexus Financial Services?

We will set up an ACH that will be retrieved from your business checking account Monday through Friday. We do not collect funds on Saturday, Sunday or bank holidays. This allows our clients to know when and how much they are paying toward their loan.

How quickly can I receive the loan?

Unlike a traditional bank which can take months, our approval time from submission is normally two business days. This turnaround allows you to have the peace of mind of knowing your funds are just days away. Our entire funding process typically occurs within 7 days of submission

I am already with another financing company providing a similar financing; can you replace that arrangement and offer me more money?

Contact us to find out specifically how much we can offer you. We often offer larger loans than our competitors and will pay off your existing cash advance or loan if it is in your best interest.

What can my loan from Nexus Financial Services be used for?

Your capital can be used for any business purpose, including: purchasing inventory, repairing equipment, renovations, expansion, reducing debt, or emergencies expenditures. You are free to spend the money on whatever is best for your business

Merchant Cash Advance

How does the Merchant Cash Advance program work?

We advance you a specified dollar amount based off of your credit card receivables. Repayment is based on a small fixed percentage of your future Visa, MasterCard, American Express, and Discover receipts until the pre-determined payback amount is satisfied. Your balance decreases as your business makes sales thus helping you manage the cash flow of your business, especially during slower months.

How can I find out how much my business qualifies for?

Our basic qualifications are that you must have a physical location, be in business for at least 6 months, process at least $5,000.00/month of Visa/MasterCard receivables and have at least 1 year left on your lease. To find out how much you qualify for, simply complete the online application and provide some basic information. You will receive a free, no obligation quote within two business days from a Nexus Financial Services Account Executive who will review your funding options.

How much will a merchant cash advance cost?

Each business is unique and therefore receives a customized quote based upon its specific needs and situation. Several factors influence the size and cost of the Merchant Cash Advance, including; business size, industry, processing history, volume, ticket size, and various other factors

Do I have to pay any fees to get a merchant cash advance?

Nexus Financial Services does not charge Application Fees or Points. You can receive a free, no obligation quote by completing our simple online application.

How often do I have to make payments?

Your balance decreases each time you process a credit/debit card. You never have to write a check. Our automated process is designed to work with your credit card processor to collect a small percentage of your daily Visa, MasterCard, American Express, and Discover receivables until your business cash advance is settled.

I am already with another financing company providing a similar financing; can you replace that arrangement and offer me more money?

Contact us to find out specifically how much we can offer you. We often offer larger advances than our competitors and will pay off your existing advance if it is in your best interest.

Does Nexus Financial Services require a personal guarantee?

No. Our Merchant Cash Advance does not require a personal guarantee. However, individuals may be liable in cases of fraud, misrepresentation, and as further detailed in the contract

Can the daily payment percentage be increased after the account has been funded?

No. We maintain the percentage till the merchant cash advance is paid in full.

When will I find out if my merchant cash advance application is approved?

Once you have submitted your application, we will review it and contact you within 24 business hours. Approval is fast and simple. You may get funding in as little as 3-7 business days.

What is the Merchant Cash Advance approval process?

Upon submitting the documents, we will review the account and issue a conditional approval with various options. Once an option is selected, the agreement will be e-mailed or faxed to you. After the executed contracts are received, Nexus Financial Services will perform final verification and issue the final approval. Subsequently, one of our funding coordinators will set up the preferred payback platform for the merchant.

Flexible Funding

What is Flexible Funding?

Flexible Funding is a process of procuring unsecured credit cards for business and personal funding. This is a personal rather business credit card line. Funding generally ranges from $50,000 to $200,000 in credit cards lines with a zero APR for the first year. There is NO upfront fee to qualified clients.

What is the cost?

In most cases we charge nothing upfront. We are only paid upon providing you with the approved unsecured credit card funding. Our fees vary based on the level of work required for each client.

Are there restrictions on the use of the credit card funding?

None. The unsecured credit card funding may be used for business or personal needs. You may use the credit card line for purchases, receive a partial cash advance or liquidate completely into cash if needed.

What is the period of time before the credit card funding needs to be paid back?

As with a traditional personal credit card, there is no set payment schedule. You are required to make minimum payments, normally three percent of the outstanding balance.

What type of personal credit score is needed to qualify?

Normally a FICO credit score of 700 is required. For those clients with personal credit scores lower than this level, we offer a variety of credit repair services to get the funding.

Credit Repair

Why does my credit score matter?

At some point, you may need to borrow funds from a lender and maintaining a good credit score will make the application approval process easier. Your credit score determines two important things and can affect your chances for getting approved. First, lending money entails risk, and your credit rating tells prospective lenders how reliable or unreliable you are at repaying loans. Second, your credit score determines what sort of terms you are likely to get. A better credit rating not only improves your chances for getting credit, but also into how favorable the interest rate will be on the loan.

What is a credit score?

A credit score is a numerical expression that allows lenders to numerically judge your credit at a point in time. It gauges how likely you are to repay your loan in a timely manner. The better your history appears, the more attractive you become as a loan customer.

How can I improve my credit score?

There are different steps you can take to improve your credit score. This process will take time. Some ways to improve your credit score include: 1) Pay all you loan payments on time; 2) Reduce your current debt to under 30% of your total available credit; 3) Keep your credit accounts that are open and in good standing for a longer period of time; 4) Limit applying for additional credit; and 5) Identify and delete errors in your credit history.

Do I need to hire a company do repair my credit report?

No. You can choose to work directly with the credit agencies to correct items in your credit report that are hurting your credit score. If however, you do not have the time and would like to seek expert advice, Nexus Financial Services offers credit repair services via a third-party. For more information, go to