The Uniform Solution Capital Advance
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Merchant Support Phone: (855) 948-4855
Email: theuniformsolution-capital@parafin.com
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FAQ
Q: What is The Uniform Solution Capital Advance?
A: An exciting new service provided by The Uniform Solution and powered by Parafin (https://www.parafin.com/) that provides access to funds for merchants using UniformPay. These simple, easy-to-get funds provide the ability for our clients to invest in their businesses whenever and wherever you need. They may want to purchase inventory, invest in marketing and growth strategies, hire new employees, help manage cash flow, and more. This is not a loan or an extension of credit.
Q: How does it work?
A: Any and all UniformPay merchants with a minimum of 90 days processing history are eligible for qualification consideration
- No paperwork. No credit checks.
- One fixed fee.
- Pay when you get paid.
- Get funded in a few clicks.
Q: Are UniformPay clients automatically eligible? Do they automatically qualify for an advance?
A: No, merchant cash offers and advances are provided by Parafin, Inc. and governed by Parafin’s Terms of Service.
Q: What should I invest in?
A: Inventory, staffing, expansion, retail, training, business tools, software, or anything their businesses may need.
Q: How do clients apply?
A: There is no need to apply. Merchants processing with UniformPay for a minimum of 90 days are automatically considered for the advance.
Q: So it’s not a loan or an extension of credit; how do clients pay this back? What are the fees associated with the advance?
A: Pay one fixed fee – no interest or late fees – and payment is automatic and tied to sales. This means they pay less during the slow periods and a bit more when business is booming!
Q: How long do clients have to pay back the advance?
A: Varies depending on the amount of the advance and risk profile. Payback time periods are in 3 month increments:
- Lowest = 3 Months
- Mid = 6 or 9 Months
- Longest = 12 months (1 year)
Q: Is there a credit check?
A: No. Offers are based on processing history.
Q: On what can the money be spent?
A: These simple, easy-to-get funds provide the ability to invest in one’s business whenever and wherever you need. Merchant cash offers and advances are not extensions of credit or loans and may not be used for personal, family, or household purposes.
Q: Are clients eligible for this benefit without UniformPay?
A: No, this is only available to merchants processing with UniformPay.
Q: Does this affect UniformPay processing rates or terms & conditions?
A: No.
Q: How do clients get notified that they are eligible?
A: Clients qualified by Parafin will receive an invitation email. Example emails are linked below. They’ll be invited in a three-email campaign, with 7 days between each email. The offer is valid for 30 days. After the initial thee-email campaign has completed, 60 days will elapse, Parafin will evaluate all clients who do not have an active capital advance for eligibility, which will trigger a new series of email invitations. This process repeats.
* Example of emails: The Uniform Solution – MCA Email Templates – 04.25.2023_final.docx
Q: If an email recipient wants to opt out from receiving future invitation emails, can they do that?
A: Yes, each email has an Unsubscribe link at the bottom where recipients can opt out.
Q: How does this work for clients with multiple MIDs?
A: Clients with multiple MIDs who are qualified by Parafin will only receive one email for the highest approved offer amount.