Products
Palace Capital Group
Merchant Cash Advances
Merchant Cash Advance gives companies quick access to capital to meet their business needs based on future credit card sales. The way cash advance helps businesses is to provide quick and easy access to funds at discounted rates in exchange for some of the company's future sales requirements.
Line of Credit
If you don't know when you need capital, credit lines are a great business program. The biggest advantage of this program is that you pay interest only on the funds you draw. This makes it one of the most affordable financing options for businesses. This program gives you constant access to capital so you can use it when you need it. Amounts range from $10,000 to $1,000,000.
SBA Loans
Small Business Administration Loans (“SBA Loans”) are small business loan programs managed by the Small Business Administration and partially guaranteed by the government. This program works with other financial institutions to give business owners access to working capital with longer maturities and interest rates as low as 4%. Most companies looking for working capital to buy inventory, or expand their business can benefit from SBA loans.
Debt Relief
Instead of paying the creditors, you pay monthly on your behalf to a special savings account under your control. Once the funds have accumulated, our partners will contact your creditors to negotiate and agree on a reduction in your balance. You then authorize them to use the funds in your private savings account to pay your creditors a reduced amount. When accounts are paid, they should be reported as zero balance. This should help your credit score recover. The faster you save, the less debt you will have.
Invoice Factoring
It can take anywhere from 30 to 90 days for most businesses to receive payments from their customers, which is a long time when you have immediate business needs and employees to pay. Factoring will pay you most of the invoiced amount immediately, then collect payment directly from your customers. Therefore, for those businesses an invoice factoring program would make the most sense so they may receive quick access to funds to meet those business needs.
Asset Based Financing
Asset-based loans allow a company to access working capital through a loan secured by the company's assets. This means that in this type of loan, the lender is secured by the assets (or multiple assets) held by the borrower of the business. Ultimately, this allows for lower interest rates, as this type of financing is considered less risky than unsecured loans. It is important to note that the more liquid a business asset is, the lower the risk of a loan and the lower interest rates may be.