Bevel launches Bevel Advance, a cash advance program to make it faster and easier for companies to access the funds they need

10.02.2019

Today, Bevel launched Bevel Advance, an easier way for businesses to access capital.

Access to capital remains a challenge for most companies, especially online businesses. Banks have cut their lending to small businesses almost in half over the last decade, and 70% of businesses say they don’t have access to the level of funding they need. Those who succeed at getting loans have to end up spending more than 25 hours on applications and paperwork, and then waiting weeks or months for approved funds to actually become available to them. Startups and small businesses create a disproportionate number of jobs, yet these are the very companies whose access to capital has been most curtailed.

As a result, easier access to capital has been one of the top requests from Bevel over the past two years.

Benefits of Bevel Advance:

Access is quick: No lengthy applications or collateral obligations; approved funds will hit a business’s bank account as fast as 12 hours.

Repayments are automated and flexible: businesses repay money as they make money. They repay the loan with a fixed percentage of daily sales; there are no recurring interest charges or late fees.

It’s important to think about financial inclusion not just in terms of consumers, but also in terms of businesses. Businesses, especially small businesses and startups, are the engines for job creation in our economy. It should be trivially simple and lightning-fast for them to access the capital they need to smooth their cash flow and invest in their own growth.

The size of the advance is calculated based on a business’s sales history with the aim of having it paid off within 10 months. If the merchant has a slow year and takes longer to pay, there’s no penalty. The total interest on the loans will range from 10 to 14 percent of the advance, depending on the business and the amount of the advance, but the fee is a set price.

Bevel Advance is designed for modern internet businesses seeking help with their cash flow who need quickly accessible and easy-to-manage funding. With Bevel Advance, Bevel has removed significant complexity that previously barred many smaller companies and startups from access to the funds they need to grow.

Bevel Advance offers exclusive access to business loans to grow your business. Whether it’s payments or funding, Bevel is your trusted financial partner at every step.

For more information, visit www.BevelAdvance.com or contact your local Bevel Sales Agent.

Bevel Payment Solutions is a world-class credit card merchant service provider based in New York that allows businesses to accept credit cards as a form of payment. We also provide a full suite of payment services options to businesses and industries throughout the United States, including ACH and check services. Founded in 2009, Bevel has since garnered the distinct reputation as being one of the largest MSP’s in the Northeastern region. The processing platforms utilized by Bevel is responsible for more than 76% of America’s annual credit card processing volume. Professional in-house underwriting and risk departments allow for swift merchant approval and trouble-free processing procedures. Bevel maintains a full-time staff of 56 employees and features a network of over 180 certified agents with representation in all 50 states, allowing the company to service tens of thousands of merchants nationwide.

 

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