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RapidAdvance

RapidAdvance Provides Your Credit Union a Win-Win Alternative

 

We know your credit union wants to say “yes” more often to its small business members.  With RapidAdvance it can – all while earning non-interest income, retaining your members’ deposit accounts and growing its small business members.

 

 CU Solutions Group's RapidAdvance program helps in getting credit unions to say yes to small business members

RapidAdvance comes with all the positives your credit union could need:
  • Retain member deposit accounts
  • Earn non-interest income based on referral fees your credit union receives for each loan
  • Position your credit union as the go-to funding resource for small businesses
  • Acquire more members
  • Graduate member into traditional credit product over time
Enable your members to:
  • Obtain vital working capital
  • Pursue timely opportunities
  • Enhance business
All this – with no fees!
With RapidAdvance, your credit union has many options for their funding needs:
1. Small Business Loans
  • Perfect for businesses looking for a traditional loan – and need it now
  • Short-term payback – up to 12 months
  • Automatic daily payments
  • Easy to renew
2. Business Cash Advance
  • Innovative, unsecured financing for businesses that accept credit cards
  • Repayment from future credit card receipts
  • No need to switch processors
3. Lines of Credit
  • Offer flexibility in funding amount and duration
  • Draw funds only when needed
  • Flexible repayment terms

4. SBA Bridge Loans
  • Meet short-term funding needs
  • Eliminate obstacles to expedite SBA approval
  • Pay tax and other past-due obligations
RapidAdvance is known for the service it provides to small businesses. The entire funding process is handled by a personal account representative from start to finish:
  • Business owner applies online with a simple one page application
  • RapidAdvance team calls business owner the same day to discuss their needs and make recommendations
  • RapidAdvance collects minimal documentation
  • Underwriting decisions are made within 48 hours
  • Funds are provided in 5 to 7 days