Prairiespring Advances is a funding broker in Portland, Maine, not a lender. Funding partners make every credit decision and set every rate and term.
Prairiespring Advances' Role in a Request
Prairiespring Advances is a broker, not a lender. It lends none of its own money, makes no credit decisions and sets no rates or terms. It takes requests by phone and online form and matches them with funding partners.
Partners that receive a request decide independently whether to make an offer and on what terms.
How Funding Partners Decide
Each partner reviews requests under its own criteria and may ask for records. Offers, if any, come in writing from the partner. Prairiespring cannot promise that a request will receive an offer, and a request does not oblige you to accept one.
A Merchant Cash Advance Is Not a Loan
A merchant cash advance is a purchase of future receipts at a discount. The funder collects an agreed share of receipts, or fixed debits, until the purchased amount has been remitted. Its cost is the difference between the receipts sold and the sum received.
Where Request Details Go
Details you give on the form or a call are used to match the request and may be shared with funding partners considering it. The privacy policy lists the categories of information.
Five Things to Check in Any Offer
- The total repaid or remitted, with every fee included.
- The payment schedule and how it fits your slowest months.
- What is pledged, which liens are filed and whether you sign personally.
- Prepayment terms and what happens on default.
- For an advance: the amount of receipts sold, the holdback or fixed debit, and reconciliation rights.
Questions About These Disclosures
Call (207) 670-3769, or see the contact page.
By Prairiespring Advances · Updated