Quikstone has partnerships with many of the major card processors. Your cash advance repayment can be nearly effortless if you use one of our processing partners, but it is not required. These partners can make it faster and easier for you to receive your daily funds by using a method called split funding.
Split Funding vs. LockBox vs. ACH
Repayment of a business cash advance is done one of three ways.
Split funding is a direct method of repayment where your processor splits out the designated remittance amount on the advance and sends the net batch to your DDA. Most merchants prefer split funding over other methods such as ACH and lockbox payments. Split funding saves time and gives you faster access to your funds.
The lockbox is an indirect method of repayment. A separate FDIC insured account is established for all credit card processing receipts to settle into initially. The funding provider keeps the remittance percentage and applies that to the cash advance balance. The net funds are ACHd to the merchant's operating account. Generally, it takes an additional day for the merchant to receive their processing receipts.
The ACH method is a daily or weekly direct debit to a merchant's DDA. There is no flexibility with this method, and since it is fixed, it could impair the merchant's cash flow and often generates insufficient funds charges from banks and the funding provider. Quikstone does not offer an ACH option.
Why Choose Quikstone
It's simple. We're honest, transparent, and very easy to do business with. Think of Quikstone as your silent business partner. We'll tell you if the product is right for you, and we'll help you maximize the return on your cash advance so you can increase sales and profit.
If you accept credit cards, a cash advance up to $250,000 can be approved and funded in just 2-5 business days. There's a simple one-page application, and no collateral is needed. 80% of our merchants are repeat customers, and we have an A+ rating with the BBB.