Moneybox works with multiple banks in order to be able to provide amazing service to all businesses. Below is a break down of what will get approved most quickly and easily. If you fall into one of these categories on boarding with Moneybox will be a snap.
Card Present Retail
Immediate consumption of goods or services, such as card retail, postpaid business-to-business transactions, professional services, and secondary and higher education.
Merchants < $100k Potential Exposure
Personal Guarantor with credit history deemed acceptable based on a combination of FICO score, payment history, and presence or absence of major derogatory items.
Merchants > $100k Potential Exposure
In addition to a qualified Personal Guarantor as described above, financial statements for the most recent two years for the contracted entity.
Card NOT present retailers, MOTO or Internet
Merchants < $100k Potential Exposure
Personal Guarantor with credit history deemed acceptable based on a combination of FICO score, payment history, and presence or absence of major derogatory items.
Merchants > $100k Potential Exposure
In addition to a qualified Personal Guarantor as described above, financial statements for the most recent two years for the contracted entity.
Businesses typically accepting Prepayment or High-Risk Card Not Present
Merchants < $100k Potential Exposure
A personal guarantor with a credit history is deemed acceptable based on a combination of a FICO score, a minimum score of 580 with no prior bankruptcy during the past five years, or any incident of a judgment, line, or collection accounting over $2500 per incident during the past five years.
Merchants > $100k Potential Exposure
In addition to a qualified Personal Guarantor as described above, financial statements for the most recent two years for the contracted entity.