Many merchants have faced rejection from banks when they apply for small business loans. Having a poor credit score, low processing, or working in certain “high risk” industries can turn banks away. But at Principis Capital, we look towards a business’ future instead of its past and have made it our mission to provide funding for businesses passed over by traditional lending institutions. Here are some common questions we get asked:
Do you work with new business?
Yes, we work with businesses that have been in business for at least 8 months.
What if my business is a startup?
So long as your startup has been in business for at least 8 months and accepts credit cards, we will be able to work with you.
Do you work with C Corporations or S Corporations?
Absolutely. If your business is set up as a corporation, remember to apply to Principis together with other shareholders representing at least 51% of the shares, or to provide a corporate document indicating who is empowered by the shareholders to make financing decisions.
Do you work with franchises
Yes, we work with franchises. You can read more here.
I didn’t start my company, I’ve only recently purchased it. Will you still work with me?
Of course! A merchant cash advance from Principis Capital is a great way to recapitalize your business.
I run my business out of my home. Is that a problem?
Unfortunately, yes. Principis requires that you have a separate brick-and-mortar location associated with your business, whether that is a retail store, a manufacturing location, an office, a warehouse or another facility.
What if I only sell over the internet?
No problem — we recognize that many businesses these days use the Internet as a key sales channel. If you do all of your sales over the Internet, we still require that you have a brick-and-mortar location associated with your business.
Do I have to accept credit/debit cards?
Yes. A merchant cash advance from Principis Capital isn’t a loan, it’s a purchase of your future credit card transactions. Read more about how it works here.