Uniondale, NY -- (SBWIRE) -- 09/25/2015 -- Platinum Rapid Funding Group, a merchant cash advance company serving a variety of industries, announced today that it has launched a new website, Platinumrfg.com. Platinum Rapid Funding Group enables merchants to access working capital using a discounted, prepaid purchase of future credit card receipts. Clients receive cash for their future receivables and pay back through a small percentage of their daily credit card receipts. The cash advances range from $5,000 to $500,000.
"So many successful businesses have working capital needs they can meet through this kind of sophisticated financing," said Ali Mayar, CEO of Platinum Rapid Funding Group. "The main benefit is the simplicity and high level of automation. Unlike other forms of receivables financing, which can be cumbersome and administratively painful, our approach works more or less on its own through the credit card processing function."
Client companies come from many different industries. Examples include wholesale distributors, who often need to carry inventory for extended periods of time. The service is also helpful for restaurants, who need up front capital but can rely on a steady stream of credit card payments in the future. Automotive clients such as car repair shops and dealerships can access working capital through Platinum Rapid Funding Group. Medical practices, retailers, liquor stores and many others can also benefit from the service.
Funding is tailored for businesses that derive revenue from credit card sales. Businesses access working capital based on their cash flow. Credit card cash advances are intended for businesses that do over $20,000 per month in credit card sales. The level of funding is based on measurable credit card sales. Most clients typically repay the financing over a 6 to 10 month term.
About Platinum Rapid Funding Group
As its name implies, Platinum Rapid Funding Group has the ability to process a financing application quickly. Most clients are able to secure financing within two business days of applying. For more information, visit https://platinumrapidfunding.com or call 866-905-5444.