Hollygrove Lenders in Fort Pierce, Florida is a funding broker, not a lender, despite the word in its name. It passes business funding requests to funding partners, which review them and decide on approval and terms. A merchant cash advance is a purchase of future receivables, not a loan.
Hollygrove Lenders Is a Funding Broker, Not a Lender
Despite its name, Hollygrove Lenders does not lend, lease or advance its own money and does not make credit decisions. It takes a business's request by phone or online form, discusses which funding types fit, and passes the request to funding partners.
Every Funding Partner Decides for Itself
Only the reviewing partner decides whether to make an offer and sets its amount, price and terms. A partner may decline or offer something different from the request. No request is assured of an offer.
A Merchant Cash Advance Is a Purchase, Not a Loan
In a merchant cash advance, a provider buys a share of the card receipts a business collects in the future. Amounts are collected as receipts arrive, and the cost is set by a factor rather than an interest rate.
Checks Before Signing Any Offer
- Read the whole agreement and keep a signed copy.
- Add every fee to the payments and note the total paid or remitted.
- Find the collateral, any personal guarantee and any early payoff charge.
- Ask the partner about anything unclear before signing.
By Hollygrove Lenders · Updated