Frequently Asked Question

This section is dedicated to educate and inform the small business merchant and to share with them clearly about our financial products and their benefits. We also learn about your questions and concerns, please do not hesitate in contacting us with same. We will respond as soon as possible. Your question may be included in this section.

You should always contact your bank first, your bank is the most suitable institution, your bank may be able to meet the financial needs of your business, your bank should be the first option to consider.

There are other institutions including Government and Non-profit Organizations that can help, such as:

  • SBA: The Small Business Administration
  • SCORE: This is a small business consulting company
  • HBIF: (Hispanic Business Initiative Funds). HBIF Provides funsd for Small Business.
  • ACCION USA: This organization is didicated to help the small businesses to get their loans.

MG FINANCIAL SERVICES can help you, when others can't, that is our greatest satisfaction and our mission, to help business owners like yourself to obtain capital for your business.

We represent the top private financing companies of the industries, our 10 years of success helping business to achieve their financial goals through business loans provide us the credibility and prestige your company deserves.

Yes we can, and we will! We understand and believe in small business. We evaluate each case separated; your type of business, the industry, as well as the years you have been in business, combined with your bank statements allow us to know more about you and your current situation and needs. One of the advantage in working with us is that the funding we provided belong to private lenders. We believe in your business and take the risk.

Yes, however always remember that your credit give support and credibility to your business. You will be able to qualify with a credit score above 550 for small amounts (up to 15K).

It is a very simple process that calculates a factor based on your bank statements and the percentage of your gross business gross income.

90% of the business qualify , retail stores, wholesalers, delivery companies, producers, manufacturers, contractors, service companies, health care industry and many others.

After you fill up the application and you sent all the required documents, in less than 24 hours you will receive a loan proposal explaining in details the amount you qualify for, the interest to be paid and the terms of the loan; if you agree with the terms, conditions and payments, the contract is executed, you sign the contract and submit it to MG Financial Services, if everything is in order you will receive a direct deposit in to your bank account and the funding will be available in your bank within 72 hours, it is really fast and a simple.

If the largest amount of income of your business comes from credit card payments, then the best choice for you is a CASH ADVANCE.
If your company receive only a small portion of income from purchases your customers made using credit then you qualify for a BUSINESS LOAN

CASH ADVANCE is a loan that has not fixed payment, a percentage is established to calculate the interest of the complete term of the loan, then a percentage of the daily sales is discounted from the total credit card sales.

BUSINESS LOAN this type of loan has a fixed payment as well as a fixed amount that will be deducted daily, as soon as the amount of the loan is determined the interest rate is applied to the loan, the interest is adjusted case to case. Daily payments are calculated dividing the total amount of the loan by the total amounts of business days of the loan period.

Unfortunately we will not be able to tell you until the end of the application, however these are very good news for you, in our company every case is treated according to its need, we evaluate each case very meticulously in order to provide your company with the loan that better fits your needs. In this website we provide a tool that you could use to calculate your loan in details, please use our calculator to have a better understanding of your loan, time and interest. When using our tool please be realistic with your numbers, as much real your numbers much closer you are to receive the real amount you can get, and the interest you are going to pay.

Yes, your business loan interest are 100% tax deductible, all moneys paid by interest of a business loan are tax deductible and can be used on your next year business tax return helping positively The Annual Profit and Loss Statement of your company.