Gross Deposits | Business Cash Advance
Daily Discount / Billing
On daily discounting, we take out the discount percentage you pay before making the deposit. For example, you pay 2% and the settlement amount was $100, then we will take out $2 and deposit $98. Your checking account is then debited for the remaining fees at the beginning of the following month, such as transaction fees, monthly, etc.
Monthend Discount / Billing
On monthend discounting, we deposit the entire settlement amount and debit your checking account for all the merchant service fees at the beginning of the following month. For example, you have a $100 settlement amount, we will then deposit $100. If you pay 2%, we will then debit your checking account at the beginning of the following month for the 2% ($2) plus any other fees such as transaction fees, monthly, etc.
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