Terms of use

What this document covers

What follows are the rules for using this website. It is not a funding contract and reading it does not create one. Should we put an offer in front of you, that offer and the agreement attached to it carry terms of their own, and those terms — not these — are what govern the money.

Continuing to use the site indicates you accept what is set out here. If you do not, the remedy is to close the tab.

What {company} does

Premier Advance funds business purposes for businesses trading in the United States. Nothing offered here is available for personal, family or household use, and we do not write consumer credit in any form.

Several of our products are funded from our own capital, on which we are the direct funder. Others — loans made under Small Business Administration programs above all — are originated alongside a partner lending institution, and where that applies you are told which institution is lending before you commit to anything. We also purchase files introduced by independent sales offices, which is a distinct relationship governed by its own written agreement.

Nothing published on this site amounts to a quotation, a commitment to fund, or professional advice of any description, whether financial, legal, tax or accounting. Files are judged on the numbers behind them and a substantial proportion are turned down.

A merchant cash advance is not a loan

The difference is a legal one rather than a matter of wording, and it is worth ten minutes of your attention before anything gets signed. Lending hands over principal and charges you for the period you keep it. An advance does something else entirely: it completes a sale. A dollar figure of receivables you have not yet collected is sold to us, we pay you less than that figure today, and the figure is then delivered to us out of your deposits as they land.

Since nothing has been lent, the agreement contains no principal, no interest, no annual percentage rate and no maturity date — none of those concepts has anything to attach to. Price takes the form of a factor rate, a single multiplier applied a single time, producing one total that neither grows if the term drags nor shrinks if it finishes early. Factor rates and interest rates measure different things and do not convert into one another; anybody presenting them side by side as equivalents is selling you something.

What you will see before you commit: the sum funded, the sum purchased, the percentage remitted, the term we expect and the total in dollars. If a line of that is unclear, ask while declining is still free.

Numbers on this site are illustrations

Each amount, range, factor rate, term and turnaround printed anywhere on this site describes what is typically available. None constitutes an offer, a quotation or an assurance. What you are actually offered rests entirely on what a review of your business supports.

Worked examples exist so the arithmetic can be followed. They are not a rate card, and they carry no implication that identical figures will be extended to you. Certain products are unavailable in certain states, and clearing a published threshold does not by itself produce an offer.

Reviews and testimonials

Each testimonial recounts one business, one file and one set of numbers. None predicts or promises that the same amount, comparable pricing, or indeed any offer will be extended to you.

Nothing on the reviews page, or anywhere else on this domain, should be taken to mean that funding is assured or that a result shown is the ordinary one. Where a reviewer received anything of value in connection with what they said, it is disclosed next to the review itself.

State commercial-financing disclosures

A number of states now mandate standardised pre-contract disclosure on commercial financing, sales-based financing such as a merchant cash advance included. Where one governs your transaction you receive it before signing, in the format the statute prescribes, on top of anything said on this website.

New York’s Commercial Finance Disclosure Law matters most to us, since this is where we operate. On covered transactions it requires a written schedule stating the amount financed, the finance charge, the total repayment amount, the estimated term, the payment structure, and an estimated annual percentage rate calculated under rules made by the Department of Financial Services. That estimated figure exists so competing offers can be lined up on a common scale. It does not turn an advance into a loan or unwind the fact that its price is a factor rate — the two numbers answer different questions, and both will be in front of you.

California, Virginia, Utah and Georgia run disclosure regimes of their own, several of them coupled with registration or licensing, each carrying its own thresholds, exemptions and prescribed forms. Further states have since legislated. Which one covers you depends on where the business sits and on the size and shape of the transaction. Ask before you apply and you will be told which regime covers the transaction you are contemplating.

Using this site properly

Use the site for reading about funding and applying for it. Do not try to break it, reach parts of it that were not opened to you, harvest it in bulk, republish it, or test it for weaknesses.

Do not put anything on an application that you know to be false. Three versions of this recur: doctored bank statements, positions left undeclared, and revenue stated well above what the account shows. Each is grounds to pull an offer, or to terminate an agreement already in force, entirely apart from whatever else may follow.

Ownership of the site

The copy, the layout, the artwork, the code and the brand marks here are owned by Premier Advance or licensed to it. Photography is licensed stock used within its own licence terms, and the people pictured are models unless a caption tells you otherwise.

Read these pages, print them, forward them to your accountant. What you may not do without written permission is republish them, sell them, or pass them off as your own work.

Limits on our liability

The site is offered as it stands. Reasonable care goes into keeping it accurate, but we do not warrant that every figure is current, that the site will always load, or that it contains no errors.

So far as the law allows, we accept no liability for indirect, incidental or consequential losses that follow from anything you do with this site, lost profit and lost opportunity among them. Where a limitation is not lawfully available — fraud and fraudulent misrepresentation being the obvious cases — none is claimed.

Governing law, and where to reach us

New York law governs this document, and its conflict-of-laws rules are excluded. Disputes arising from it belong exclusively to the state and federal courts seated in New York County, New York.

Should a court strike out part of what is written here, everything else stands. Declining to enforce a provision once does not surrender the right to enforce it later.

Questions about these terms go to contact@premier-advance.com">contact@premier-advance.com, or by post to 55 Water St, Wall Street, New York, NY 10038.