What if business is slow?
The percentage is collected based solely on credit card sales. Usually if there are no credit card sales that month, no fees are collected. In this case, the funding vendor will contact the merchant to check and see why credit card sales have been slow. If business is consistently slow and merchant falls below a set threshold, the funding vendor will contact merchant. Business Financial Services will contact merchant to see how they can help – sometimes even lowering holdback amount. If there are no credit card sales at all for at least two months, funding vendor will contact merchant and begin an investigation. AdvanceMe, Inc. may send uncollected funds to collections.
