Disclosures

Product nature

A merchant cash advance is the purchase of a business's future receivables at a discount. It is not a loan. There is no interest rate and no amortization schedule; cost is expressed as a factor rate applied once at signing, and the Total Purchased Amount is fixed from that moment. GLD Factoring LLC DBA GLD Funding is not a bank, is not a lender, and does not make loans.

Because an advance is a purchase rather than an extension of credit, most federal consumer lending statutes - including the Truth in Lending Act - do not apply to it. That is precisely why the disclosure practices described on this page matter, and why a growing number of states now regulate commercial financing directly.

Business purpose only

Funding is available for business or commercial purposes only. It is not available for personal, family or household use, and every applicant certifies this at signing.

Written cost disclosure on every offer

Every offer we make is accompanied by a written statement showing, at minimum:

• The advance amount, and the net amount that will reach your account after any fees
• The total dollar cost of the financing, and the Total Purchased Amount
• The remittance amount and how often it is taken
• The expected term
• Every fee, itemized, including any origination, underwriting or ACH fee
• Whether early completion changes the total, and on what terms
• The specified percentage of receivables being purchased
• Any prepayment, reconciliation and default provisions

We provide this in every state, whether or not state law requires it. If a figure you were quoted verbally does not appear on the written offer, do not sign - call us.

State commercial financing disclosure laws

Several states require standardized disclosures for commercial financing. Where they apply, we provide the disclosure in the form and manner the state requires, at the time the state requires it, and we register with the state regulator where registration is required.

In New York, that means an OFFER SUMMARY showing total dollar cost, an annualized rate comparable to an APR, and the repayment term, as required by the Commercial Finance Disclosure Law and enforced by the Department of Financial Services. California, Connecticut, Utah, Virginia, Georgia, Florida, Kansas and Missouri have their own regimes with differing content and timing requirements, and further states have enacted laws whose effective dates are still approaching.

See what applies in your state. Those state summaries are general information about the regulatory landscape, not legal advice, and are current only as of the date shown.

Figures used on this website

Advance amounts of $10,000–$500,000 and terms of 3–18 months describe typical outcomes on this site, not a quote for any individual file. Same-day funding describes an outcome that is available on some transactions, not one promised on every transaction. It is not a guarantee, not the best case, and not an outcome you should assume applies to your file.

Your own amount, rate, term and timing depend on underwriting - principally deposit consistency, time in business, average daily balance, industry, and any advances you are already carrying. Decision and funding times are measured in business hours from a complete file, meaning one with every required bank statement attached and every owner's signature in place; an incomplete file starts that clock later. Funding speed also depends on your bank's processing times, which we do not control.

Worked examples elsewhere on this site are illustrative structures chosen to show how the arithmetic works. They are not offers, not quotes, and not drawn from any individual client's file.

Eligibility check

The short check that opens the application collects average monthly revenue, time in business, and industry. It collects no personal information, is not a credit inquiry, is not underwriting, and is not an approval. Nothing entered into it is used to price you.

Credit and background inquiries

There is no credit inquiry during the eligibility check. Once you submit a full application and sign the authorization, we may obtain business and personal credit reports and background information for each owner listed, both to evaluate that application and in connection with any renewal. If we decline an application based in whole or in part on information in a consumer report, we will tell you and identify the reporting agency so you can obtain a free copy and dispute anything inaccurate. See our privacy policy.

Guarantees, liens and security

The guarantees, security interests and other terms that apply to a transaction are set out in the agreement for that transaction and vary by file. Our agreements commonly include a performance guarantee, standard across the industry, under which an owner is personally liable for breach of the agreement, fraud, or a prohibited act such as diverting receivables or shutting the business to avoid remittance - not for ordinary business failure. A UCC-1 financing statement may be filed against business assets to perfect our interest in the receivables purchased.

Read your agreement before signing. Every term that applies to your transaction, including any guarantee or lien, is disclosed in it.

Remittance and reconciliation

Remittances are taken by ACH from the bank account you designate, usually beginning the business day after funds arrive, on the schedule stated in your agreement. Because an advance is a purchase of receivables rather than a loan, remittances can be reconciled against actual revenue if your business's income drops materially. Reconciliation is governed by the express terms of your agreement and requires you to contact us and provide supporting records - call before a payment is missed, not after.

Renewals and additional positions

You may be offered a renewal before an existing advance is fully remitted. A renewal typically pays off the outstanding balance and advances new funds, and the payoff amount may include cost you have not yet remitted. Taking additional advances from other funders increases the total remittance load on the same revenue and generally raises the rate on anything new. Ask for the payoff figure and the net new funds in writing before agreeing to any renewal.

Testimonials

Testimonials on this site reflect the experience of individual clients who consented in writing to their publication. They describe those clients' own experiences and are not a guarantee of approval, of terms, or of any outcome. Individual results vary. Clients are not compensated for testimonials.

Restricted industries

Certain industries cannot be funded, generally for regulatory or risk reasons. The restricted list covers, among others, firearms and ammunition, adult entertainment, cannabis and cannabis-adjacent businesses, gambling and gaming, cryptocurrency and certain financial services, multi-level marketing, and any business operating unlawfully under federal or state law. The list changes as regulation does. Contact us if you are unsure whether yours is affected - before you apply rather than after.

Referral partners and independent sales organizations

Some applications reach us through independent sales organizations, brokers and referral partners. Those parties are independent contractors, not employees or agents of GLD Factoring LLC DBA GLD Funding, and they are not authorized to make offers, quote final terms, or bind us. They may receive commission on funded deals, which is disclosed on your offer where state law requires it. If a partner has quoted you terms, rely on the written offer we send you, not on the quote. See our partner page.

Availability

GLD Factoring LLC DBA GLD Funding funds businesses across the United States. Availability, terms and product features vary by state, and we do not fund businesses outside the United States. Nothing on this site is an offer in any jurisdiction where we are not authorized to make one.

Accessibility and questions

If you have difficulty accessing any disclosure on this site, or want any of this material in another format, call us and we will provide it. Questions about anything on this page go to GLD Factoring LLC DBA GLD Funding, 591 Stewart Avenue, Suite 520, Garden City, NY 11530. Phone 1 (877) 498-4344. Email [email protected].