Financial Institution

A financial institution is a business that offers financial products and services to its customers or members. A financial institution usually profits by charging interest, fees, and/or service charges to the recipient of the funds. Common financial institutions would include banks, stock brokerages, credit unions, and asset management firms.

The types of financial products and services offered by financial institutions are varied. Consumers may want to save money for the future, so a financial institution could allow them, for a fee, to buy bonds with guaranteed returns. A financial institution may offer home or auto loans to individuals or businesses. They could offer a means for people or businesses to deposit and access money through checks and debit cards. Some financial institutions even have specialties, like catering specifically to small businesses, providing operating capital for day-to-day needs.

There is a movement among many financial institutions to offer services or products that are considered outside of the norm. A recent example is internet or online banking. This was a service that started out as an alternative funding or service offering, but is now a vital part of the mainstream financial industry.

AdvanceMe is a privately held financial institution, offering small businesses viable funding products. Our products are based on future credit and debit card sales and are referred to as credit card receivable funding, or more commonly, as Merchant Cash Advances.

Because AdvanceMe is not a traditional type of financial institution, many small businesses will find it very easy to qualify for and receive our Merchant Cash Advances. Unlike a bank or other traditional financial institution, we won't require a down payment or make you complete a daunting pile of paperwork. We won't tell you how to spend the money within your business. We keep it quick and simple, allowing you to get back to business.

When your small business is seeking financial help, keep in mind that each financial institution might have individual characteristics that might make a difference in your decision making.