What is TrakLoan?
TrakLoans are a flexible, “cash-flow friendly” way to access small business capital. They are alternative loans for small businesses that work particularly well for businesses whose owners value having the amount they remit fluctuate with their daily payment card receivables. Instead of sending a large amount once a month, a flat percentage of your business’s credit and debit card sales are automatically remitted daily. A larger amount is sent on busy sales days than on slow days. The process stops automatically when your loan is repaid.
What are the advantages of a TrakLoan?
- No personal collateral is needed.
- A stellar credit history is not required to qualify.
- There are no checks to write.
- On a slow day your business remits less; on a busy day it remits more.
- Loans for small businesses made easy: remittances are made automatically through processing credit and debit card sales—you can remain 100% focused on growing the business.
- There is no maturity date and there are no fixed payment amounts.
- It is quick and easy when compared to other small business capital funding options such as a traditional loan.