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Preferred Client List
The following list will point you toward the most receptive markets that are easiest to fund. Merchants in the “Challenged” category WILL REQUIRE MORE DOCUMENTS AND TAKE LONGER TO FUND. Merchants in the “Will Not Fund” category is self explanatory.
TIER 1 Preferred
Merchants in these SIC Codes enjoy the highest approval rate and have proven to be the best suited for cash advance products.
1. Restaurants
2. Hotels (privately owned and franchises)
3. Motels (privately owned and franchises)
4. Wine & Liquor Stores
5. Gift Shops/Boutiques
6. Shoe Stores
7. Optical Stores
8. Beauty Parlors
9. Health Spas (sophisticated/full service beauty salons)
10. Auto After-Market (except transmission & muffler shops)
11. Jewelry Stores (min. of 3 years in business to qualify)
12. Pet Businesses (Pet Shops, Groomers, Kennels etc)
Challenging to Fund
Merchants in these categories will require a high degree of examination and due diligence and will have a lower approval rate:
1. Furniture Stores
2. Florists
3. Service Businesses (accountants, insurance)
4. Seasonal Businesses (Resorts, etc.)
5. Web Based Businesses /.com’s (must have a lease)
6. Cell Phone Stores
7. Elective Medical and Dental (Botox, Teeth Whitening)
8. Gentlemen’s Clubs
9. Cinemas and Theaters
10. Gas Stations / Convenience / Auto Repair
11. Unincorporated Sole Proprietorships
12. Transmission Shops (Aamco etc.)
13. Muffler Shops (Maaco, Meineke etc)
14. Electronics Stores
15. Carpet Stores
Will Not Fund
Merchants in these categories cannot be funded:
1. Pornographic Shops (XXX rated products & services)
2. Escort Services
3. Travel Agencies
4. Gambling / Gaming Services
5. Web Based Businesses / .com’s with no inventory, warehouse or lease *** Must have a physical location!
6. Tattoo Parlors
7. Home Based Businesses
Basic Qualifications for a Customer
1. Accept Credit Cards – MasterCard/Visa, AMEX is optional with a minimum monthly charge volume of $2,500 to $10,000
2. Must be processing with a cooperative credit card processor
3. Merchant must batch out a minimum of 10 – 12 times a month
4. Must have a commercial checking account for business.
5. Business must be in active operation – not closed.
6. Business must have a lease with a term that is twice as long as the estimated time of the cash advance contract.
7. Business should not be more than two months behind in rent or mortgage payments.
8. Must be in business for one (1) year EXCEPT restaurants. SBC will help fund new restaurants.
9. Must have a valid Business License
10. Should be legally incorporated, sole proprietorships must sign contract addendum
11. Must be in accepted business category / SIC Code
12. Business must not have irresolvable tax liens – payment plan etc.
13. Business must not have judgments that could impair operations
14. Prefer business owners with personal credit FICO above 500
15. Must have acceptable bank references (few NSF’s)
16. Will be evaluated on basis of geography and seasonality
17. If merchant has a cash advance with a competitor it must be 50% or less than the proposed SBC cash advance.
Contact us regarding this unique program.