Funding partners review requests, set any terms and provide any funds. A merchant cash advance is a purchase of future card sales, not a loan. Partners may check credit. Example payments on this site are invented; Census figures name their program and year.
Requests go to funding partners, and the money comes from them
Two roles meet in every request, and Rowanharbor Finance's is the narrower one: it listens to what a business needs money for, matches the cost to a funding type and sends the request to independent funding partners whose products may fit. It advances no funds and buys no receivables itself. Any agreement is made between the business and the partner, on the partner's paper.
Offers, prices and decisions belong to the partner that reviews a request
Each funding partner runs its own review and decides whether to make an offer at all. The amount, the rate or factor, fees, term, payment schedule and any collateral or lien are set by the partner. Nothing on this site is an offer of credit, and no page here promises funding, a particular amount, a rate or a date.
The merchant cash advance is a sale of future card receipts
A merchant cash advance is not a loan. The provider pays a sum now in exchange for a set total collected from the business's future card sales, either as a fixed share of each day's sales or as a set debit. It has no annual interest rate; its cost is the difference between the total collected and the sum received, fixed by a factor written into the contract.
When credit may be checked, and by whom
Sending the form or calling the office opens a conversation. A funding partner that reviews the request may check the owner's personal credit, the business's credit, or both, as part of its own process. An owner can ask the partner what it checks, and how, before letting the review go ahead.
Example payments are invented; county and ZIP numbers name their Census source
Worked examples and calculator results on this site use invented figures and say so; they are arithmetic, not quotes, and no partner is bound by them. County and ZIP figures come from U.S. Census Bureau programs, each named with its year next to the number. A ZIP figure describes that ZIP Code area, which is not the same as the Hopkinsville, KY city limits.
Kinds of funding left outside Rowanharbor Finance
Rowanharbor Finance does not arrange funding for real estate purchases, building construction loans, businesses that have not opened yet, agriculture, trucking companies, or personal and consumer debt. Contractors and other operating businesses can send a request for equipment, stock, payroll and similar business costs; work on a building itself is property work outside this site.
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