FAQs - Customers
Is this a loan?
No, this is not a loan. It is a purchase of future total deposit receipts or credit card receivables.
How and when can I apply to get another advance?
Applying for another cash advance from Smart Step Funding (SSF) is fast and easy. You do not have to wait until your existing advance is fully paid off. Please contact SSF Renewals at 888-636-2190 and one of our dedicated representatives will assist you in initiating the renewal request.
Can I get additional funding from other companies after I get money from Smart Step Funding?
As per your contract with SSF, it is not permitted to accept additional funds in a ‘second’ position. Doing so would constitute a breach of contract. Check with us first, we may be able to provide the additional funds you need. In the event you decide to get funds from a different source, you must arrange to have your SSF balance paid immediately and directly out of the proceeds.
Can I change or close my business bank account?
If you need to change your business bank account, please contact SSF before doing so. It is important we are notified of any bank account changes in advance. This is to ensure that your account remains in good standing after the change is made.
What do I do if my business will be temporarily closed?
It is our goal to ensure your account remains in good standing. We need to be notified of any changes to your business that would impact it from operating normally – for example, a temporary closure, relocation, family emergency, or renovation. Please contact our Customer Care Department at 866-390-5442.
Do you charge any penalties if I bounce payments?
A non-sufficient funds (NSF) fee may be charged to the account to cover any NSF fee your bank charges us. All details are outlined in your contract.
Is there any interest?
This is not a loan product so there is no interest. This is a purchase of future receivables. There are no charges or fees that “accrue” during the advance. The amount of receivables purchased and the payback amount are determined and agreed upon upfront (please refer to your contract).
Who do I call if I’m having issues processing credit card transactions?
If you’re having issues processing credit card transactions, please first contact your merchant credit card processor and then contact SSF to let us know that you are having temporary processing problems. SSF will typically put in an estimated daily payment plan to cover the days before the issue is resolved. Please do NOT change your merchant credit card processor without speaking with SSF first. (see “Can I change my merchant credit card processor?” below)
How do I add an additional credit card terminal at my business location?
You must contact the credit card merchant processor if you’d like to add another credit card terminal at your business location. You will need to have your merchant ID handy when you make this call. Your new terminal must be set up under the existing merchant ID.
What if I want to sell my business?
If you plan to sell your business, please contact SSF Customer care before doing so. Your contract with SSF prohibits you from selling the business or any significant assets of the business without paying the advance in full out of the proceeds.
What if I want to move my business to a new location?
If you would like to move to a new location, you will need to put a temporary (bridge) payment plan in place with SSF during any period when the business is temporarily closed. Please contact our Customer Care team at 866-390-5442 in advance of such a move.
Can I change my merchant credit card processor?
If you have issues with merchant credit card processor, please call our Customer Care team at 866-390-5442. Many merchant processing issues can be resolved without switching your provider.
What happens if it takes longer than expected for me to repay the advance?
Since there is no fixed term to the advance, there is no issue with taking less or more time to repay the advance. For credit card advances, if your sales go up, SSF will collect the receivables faster, and if they go down, we will collect slower.
How can I access my account statements?
Statements are sent out to the email on file on the 10th of the month. If you have not received it, please call our customer care department at 866-390-5442.
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