Frequently Asked Questions
What is SalesGuard?
The protection every business owner needs to secure their business (Access to cash when they need it!)
95% of all business owners who apply, qualify for SalesGuard.
How much can I qualify for?
SalesGuard Coverage ranges from $1,000 - $250,000.
Do I have to secure my SalesGuard Coverage with any assets or collateral?
No, SalesGuard is unsecured. Your proven business track record helps us determine the amount of your coverage.
What is the cost of funds?
There is no interest. We provide funds based on a factor rate.
How do I access available funds?
Funds are easily accessed by submitting a Funding Request online.
Is there a fee to have the funds released from my SalesGuard account?
No, when the funds are deposited onto your Prepaid MasterCard®.
Yes, there is a $25 fee when the funds are deposited into your bank account.
How long does it take for funds to be released from my SalesGuard account?
24-48 Hours when deposited onto your Prepaid MasterCard®.
5-7 Days when deposited into your bank account.
Are SalesGuard funds reported to any personal credit bureaus?
No. Funds are Not reported.
How can SalesGuard protect my business?
SalesGuard provides you with access to cash when you need it.
Will SalesGuard appear on my credit report?
No, SalesGuard will not appear on your credit report. It will have no impact on your debt to income ratios or your ability to apply for financing. We do however report to several credit bureau's helping to build your business credit
Can I pay early?
Do I qualify for a discount if I pay early?
No, we do not offer a discount for paying earlier than scheduled.
How do I pay the money back?
Your payments are based on a variable percentage of your credit card sales. The percentage varies based on your total remaining availability. If you have more than 65% availability your holdback percentage is 10%, between 35% and 65% your holdback is 20% and if you have less than 35% remaining availability on your your holdback is 25%. As your coverage availability grows, on a daily basis, your holdback percentage is reduced.
Do I need to renew SalesGuard?
No, SalesGuard provides you with money when you need it. Therefore, you can access your coverage anytime there is availability.
Are there any restrictions on how SalesGuard can be used?
There are no restrictions on how you can use the money received from your SalesGuard Coverage.
What do I need to apply?
Complete the SalesGuard Application.
How long does it take to get approved?
Less than 48 hours.
Will I need to personally guarantee my SalesGuard coverage?
There is no traditional personal guarantee required.
What is your approval rate?
More than 95%.
How do I apply for an SalesGuard Account?
Simply complete the application online or call 888-838-1717.
Is there any paperwork involved in the approval process?
There is a short application plus 3 months bank statements and 3 months merchant statements.
Do you require any personal collateral?
No. Personal Collateral is not required for SalesGuard. Your proven business track record helps us determine the amount of your coverage.
Are there any monthly premiums or broker fees?
Do I need to change my merchant processor?
Yes, you will need to change to IRN Payment Systems, a 23 year old Credit Card Processor with an exceptional reputation. Your Rates and fees remain the same.
I have had some problems on my credit report in the past, how good does my credit have to be?
SalesGuard is based on your business credit card sales; therefore, your personal credit plays almost no role.
If I have had a bankruptcy in the past am I still eligible?
Yes, If the bankruptcy has been discharged.
How do I change my address or update my account information?
Updating your account information can be done online.
How do I check my Coverage and get reports on my activity?
Remaining availability, card usage, and additional account reporting is provided online with 24 hour access.