Sprucebend Commercial Capital in Camden, New Jersey is a funding broker, not a lender, although its name includes the word Capital. It places business funding requests with funding partners, which review them and make their own decisions on approval and terms. A merchant cash advance is not a loan.
Sprucebend Commercial Capital Is a Funding Broker, Not a Lender
Sprucebend Commercial Capital does not lend, lease or advance its own money and does not make credit decisions. It takes a business's request by phone or online form, discusses which funding types fit, and places the request with funding partners.
Funding Partners Decide on Approval and Terms
The partner reviewing a request decides whether to make an offer and sets the amount, price, term and conditions. A partner may decline, or offer something other than what was asked for. Sprucebend cannot change a partner's decision, and no request is assured of an offer.
A Merchant Cash Advance Is a Purchase of Future Receipts, Not a Loan
With a merchant cash advance, a provider buys part of the card receipts a business will take in later and collects them as they settle. The cost is set by a factor rather than an interest rate. Compare the total to be remitted with the total cost of a loan before agreeing.
Checks Before Signing Any Offer
- Read the full agreement and keep a signed copy.
- Add every fee to the payments or collections to find the total.
- Identify the collateral, any personal guarantee and any charge for early payoff.
- Ask the partner every question before signing, not after.
By Sprucebend Commercial Capital · Updated