Frequently Asked Questions (FAQ's)




What is a Cash Advance (MCA)
A cash advance is a quick alternative way to obtain working capital for your needs. Cash advances are based on your future credit card receivables, so qualifying is much simpler than a traditional bank loan.

How is a Cash Advance (MCA) remitted?
Unlike traditional lending solutions, cash advances are usually remitted daily. The dollar amount remitted is based on a formula which is related to your daily sales. Each day your remittance amount will differ.

What can I do with the money I borrow (we do traditional loans also) or advanced?
Once you are approved for an alternative lending solution advance, or loan you may use the money as you see fit for your business. Most business owners we assist use the money for new equipment, renovations, expanding market, advertising, taking advantage of closeouts or seasonal opportunities, financing training, financing payroll, need quick cash for emergency needs, etc.

Does All Star Advance offer capital for Startups?       
YES! All Star Advance is one of the few lenders in the industries that offers start up capital on a case by case basis!

Does All Star Advance offer remittances (re payments) other than daily?
YES! All Star Advance is one of the few lenders in the industry that offers weekly remittances on a case by case basis! 

What are the qualifying requirements for alternative lending solutions?
Premier
The Premier Loan is ideal for established business owners with favorable credit and a stable average bank balance.
In business 2 years or more
Favorable personal credit
Extended terms available
Minimum monthly income of $15,000.00

Standard
Just getting your business started, or have a few dings on your credit? As long as you maintain a steady bank balance our Advantage Loan would be a good fit.
In business 4 months or more
Wide range of credit types accepted
$1,000 average daily bank balance
Minimum monthly income of $5,000.00

What if I have an existing loan or cash advance?
That is ok, we can usually refinance an existing cash advance.

What is required to apply?
The short application must be completed in full, it needs to be submitted along with 4 months business bank statements and 4 months merchant statements (credit card processor if applicable). If you have questions regarding completing the application contact your All Star Advance, LLC. Originator or call or email us at corporate directly process@asadvance.com. 

In most cases you will receive a call from our processing team with several options. Once you decide which option bests fits your needs (find a bank that does that), we will develop a list of "closing documents" which normally consists of driver license, lease for business or mortgage coupon, last year business tax return, and a voided check. 

Is there a pre payment penalty?
Pre payment penalties are very very rare. In any case if there was such it would be fully disclosed and discussed during the option review process. Actually, in most cases, a early payment discount is offered.

Any other questions?
email us at: process@asadvance.com 
call your Originator
call us directly at: 201-299-5263 
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