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Instead of interest, customers pay a one-time cost known as cost of capital. With 2M7, there are no hidden fees. You know exactly what you're going to pay, upfront, before you sign.
We have a unique, more flexible way of evaluating funding applicants. Unlike many other funders, 2M7 won't automatically reject your application due to bad credit. We take multiple factors into account, including monthly revenue, duration of time you've been operating, and industry.
Bottom line: we approve more businesses for funding than other funders. A recent Biz2Credit Small Business Lending Index listed bank approval percentage at 14.5%. Our approval rate is 5X that number — and you can get approved the same day.
Business owners who need funding usually need it quickly. They don't want to jump through many hoops. And they don't appreciate when funders conceal certain fees and charges to make the deal look better than it really is.
That's why business owners are thanking us for these 3 unique benefits of the 2M7 cash advance:
1. IT'S EASIER TO APPLY FOR
All we require is 3 simple things. And the LONGEST it can take to get approved is 24 hours.
2. IT'S FASTER TO GET
Once approved, funds land in your account within 24 hours. And you can reach out to your rep to request more funding anytime.
3. TERMS ARE 100% TRANSPARENT.
No interest, no hidden fees. It's easy to reach us and we are responsive to your questions.
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So great to work with your company. I am doing great with our financial plan and wanted to let you know how happy I was to have met with you. Thank you.
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We have been very satisfied with the service provided by 2M7 and over the years. The best thing is that we do not have to worry regarding the repayments if our sales are low. Such a relief! Thank you to 2M7 Financial Team for supporting us! All the best.
Daniel from 2M7 has been an angel and lifesaver for me, and always pulled things together whenever I needed it. 2M7 has been extremely flexible, whenever needed. 10/10.
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An automatic draw of a set dollar amount from your account. You know what this amount will be before you sign, and there are no surprises down the line. If you are going through hardship and struggling to make these payments, you have the option to call us and ask for a temporary decrease in your fixed payment amount. If we can accommodate your request, we will. We've done it before for many other customers in good standing.
This payment option is also automated, but instead of withdrawing a set dollar amount, we withdraw a set percentage of your sales. This means you automatically pay more toward your balance when sales are high, and less toward your balance when sales are low. It's a natural, simple way to pay off your balance as quickly as possible, in a way that ebbs and flows in tandem with revenue.
The amount repaid each day is known as the withholding percentage. Withholding percentages can range from 4% -30% of your daily sales. Your withholding percentage depends on a variety of factors including the cash advance amount, your revenue, industry, and more.
NOTE: The withholding percentage should not be confused with an interest rate. It is the amount of your daily sales that gets collected and put towards repaying your financing.
