We offer two types of merchant financing: Priority Funding Placement Desk and our most popular, Merchant Cash Advances.
Priority Funding Placement Desk
Utilizing various funding partners, we seamlessly provide you with a high-quality alternative to traditional bank financing – all at a competitive cost factor.
Merchant Cash Advances
Unlike traditional loans in which banks look at assets when considering lending money, we look at the strength of the business and the risk associated with it when providing businesses with a merchant cash advance.
Priority Payments Local Merchant Funding in the News, New Jersey Business Magazine feature:When Working Capital Comes in Handy
What is a Merchant Cash Advance?
Merchant Cash Advance (MCA) is NOT A LOAN
Lender gives a business upfront lump sum of cash
Business repays via future sales + fee
Pros & Cons of MCAs
- Quick approval for funding
- Easy eligibility
- Minimal documentation
- No collateral or personal guarantee required
- Repayment is based on a fixed percentage of your sales
- Can be an expensive form of financing
- Paperwork can be challenging to understand
- Frequent payment schedule
- Debt cycle risk
- Not regulated by the government
Merchant Cash Advance vs. Plastiq
Typically long-term daily payments
Product can be used once, or over and over again
Amount eligible is based on past verifiable receivables
Eligibility is based on available credit limits on your existing business credit card accounts
One advance at a time, or you are susceptible to higher rates on second positions
Pay Plastiq upfront 2.9%. Pay your credit in 30 days or over time based on your agreement
Priority Payments Local™ offers Merchant Cash Advances through validated lending partners; a separate application is required.
Plastiq, is an alternative way to mitigate cashflow depletion by converting a credit limit from a business card to an ACH payment to a supplier.
Plastiq™ is owned and operated by Priority Payment Systems.
ABOUT PRIORITY PAYMENT SYSTEMS LOCAL™
A Trusted Leader in Payment Processing
Priority Payment Systems Local™ is renowned as a leading merchant payment acquirer in the United States. Established in 2013, Priority has steadfastly pursued its vision of creating a merchant-focused payments platform, successfully positioning itself as a prominent figure in consumer payments and payment-adjacent services. The foundation of Priority's remarkable growth lies in its three core pillars: a cost-efficient, agile payment processing infrastructure; a proprietary, versatile product platform; and a dedicated, efficient distribution engine targeting business-to-consumer (B2C) payments.
Priority Payment Systems (Nasdaq: PRTH), Local’s executive partner, with its headquarters in Alpharetta, GA, is a beacon of innovation and excellence in the field. The company proudly employs over 600 dedicated professionals and operates from a purpose-built campus. This campus is not only a testament to Priority's commitment to its employees and operations but also features state-of-the-art infrastructure and security, ensuring the highest standards of service and reliability in the industry.Learn More
We take care of your payment transactions, and even provide funding options, so you can focus on the success of your business.