Par Funding may make use of certain exclusive financial partnerships and Par Funding may be compensated if merchants choose to accept the terms and conditions of a cash advance agreement.
Par Funding and its subsidiaries, affiliates, officers, and/or employees provide the information and materials on this Site to our visitors and are subject to the Terms and Conditions. Par Funding has the right to revise the Terms and Conditions at any time by updating the information posted on this webpage, and such revisions will be binding upon all visitors to the Site. Thus, we recommend that you visit the Terms and Conditions webpage each time you visit parfunding.com.
All of the content within the Site as made available only for your business and lawful use in connection with seeking to obtain business working capital. Use of the Site by a competitor company or other non-merchant third party is strictly prohibited.
Copyright & Trademark Notices
All of the information within this Site, including without limitation the Par Funding logo and other Par Funding trademarks and service marks, is the property of Par Funding and/or its affiliates or its licensors. Par Funding makes no proprietary claim to any third-party names, trademarks or service marks appearing on the Site. Any third-party names, trademarks and service marks are the properties of their respective owners.
Except as expressly provided by law, you may not, without the prior written permission of Par Funding, post, transmit, copy, modify, create derivative works from, distribute, sell, or republish anything contained on the Site.
Web Content and Materials
While Par Funding is committed to maintaining the most up-to-date information on the Site, Par Funding is nevertheless not responsible for information that changes with or without notice to Par Funding. Furthermore, Par Funding is not responsible for and disclaims any and all liability related to any dealings between its visitors and partners. Par Funding will not be involved in any disputes between any of its visitors and such partners or their respective affiliates.
limitation Of liability
Par Funding and its affiliates, directors, officers, and employees shall not be liable for any loss, damage, injury, claim, nor any special, indirect, incidental, consequential, exemplary, or punitive damages of any kind, whether such action is based in tort, contract, negligence, strict liability, or otherwise, and even if Par Funding and its affiliates, directors, officers or employees have been advised of the possibility of such damages, which arises out of or relates in any way to:
- use of the Site, materials within the Site, or the inability to use the Site;
- any Third Party Site, materials in any Third Party Site, or the inability to use any Third Party Site;
- any defect, omission, error, interruption, delay, or computer virus; or the unauthorized alteration of or access to users’ transmissions or personal data, except as a result of parfunding.com gross negligence or intentional action(s).
The information and materials contained in this site, including text, graphics, links, or other items are provided “as is.” Par Funding does not warrant the accuracy, adequacy, or completeness of this information and materials and expressly disclaims liability for errors or omissions in the information and materials. No warranty of any kind, implied, expressed, or statutory, including but not limited to, the warranties of non-infringement of third party rights, title, merchantability, fitness for a particular purpose, and freedom from computer virus, is given in conjunction with the information and materials.
If you are in a state that does not allow the limitation of liability for certain damages, the above limitation of liability or a portion of it may not apply to you. However, you agree in any event that Par Funding total liability (and that of its affiliates, directors, officers, and employees) for all damages, losses, injuries, or claims of any kind or nature shall be limited to the amount you have paid to access the Site.
While Par Funding believes the information on the Site to be reliable, Par Funding makes no claims or representations about the accuracy, reliability, timeliness, usefulness, or completeness of such information or advice. Each merchant’s financial situation is unique and you should consult a financial professional prior to acting upon any information contained in this Site. Any reliance by you on any information or advice will be at your own risk.
Enforceability and Governing Law
User access to and use of the Site is subject to all applicable federal, state and local laws and regulations. Unauthorized use of this system is prohibited and violators can be prosecuted under federal and state laws. New York law and federal law will govern the interpretation and enforcement of these Terms and Conditions, without giving effect to the principles of conflicts of law. By using the Site, you consent to the jurisdiction of the state and federal courts of New York City, New York, USA., for any action or proceeding arising under or relating to these Terms and Conditions or this Site.
Credit Check Disclosures
While business funding does not require the consumer disclosures and consumer credit reports that are both regulated by the Fair Credit Reporting Act (FCRA) and the Fair and Accurate Credit Transactions amendments made to the FCRA, Par Funding feels that it’s important to advise our applicants that, on occasion, we may obtain information from credit bureaus to underwrite applications. As our Merchant Cash Advance (MCA) business funding differs greatly from loans, we do request credit, personally identifiable and financial information for the purpose of determining the creditworthiness of a merchant who seeks to sell their future receivables.
By visiting our website, you’re likely looking for a financial funding solution to grow your business or address a challenge that arises. As an informed business owner, you should weigh the options of what type of business funding to choose, and what type of interest comes with that choice. Any funding your business receives, whether it be from a loan or Merchant Cash Advance (MCA) comes with a cost to finance. Because of their consumer experiences with mortgages, car purchases, etc.; many are familiar with the term annual percentage rate (APR), a figure commonly associated with credit cards and other consumer funding options. However, if you choose the quicker MCA type of funding to fulfill your business needs, the cost of financing comes in the form of a factor rate. As many may not be familiar with Factor Rates, we at Par Funding want to help you understand the difference so you can make an informed choice that will best help your business.
First, interest rates like APRs are associated with loans. Factor Rates are associated with Merchant Cash Advances (MCAs). As opposed to lending you money, MCAs purchase (or “Factor”) future receivables based on an evaluation of your business receipts. With an interest rate (APR) on a loan, your payments can actually have a moving target because the rate will be recalculated over the course of your financing, based on the depreciating capital in an unpredictable market-based economy.
On the other hand, factor rates are based on your receivables, calculated up front and never change. Rather than make recurring payments as you would with a standard loan, you’ll pay the full amount disclosed up front in a pre-disclosed payment plan that’s automatically drafted though ACH drafts.
Understanding the differences between Factor Rates (Merchant Cash Advances) and APRs (Loans):
- They are different types of transactions. Annual Percentage Rates (APR) are percentages that determine the annual rate of interest a business owner is charged for borrowed capital. The calculation is typically close to the prime rate set by markets. On the other hand, factor rates are most commonly represented as a fixed decimal number which determines the total amount of capital that business owners are obligated to pay upon the sale of a fixed period of their future receivables.
- Factor rates are typically associated with merchant cash advances (MCAs). MCAs differ from small business loans as they are a fixed sale of receivables, and not a loan. Similar to an APR, Factor rates are calculated as decimals ranging from 1.1 to 1.5. If you multiply your factor rate by the amount of future receivables you sold for the MCA, you can arrive at the factor rate. So, if you receive an MCA of $100,000 with a 1.25 factor rate, you’ll have sold $125,000 in future receivables by the end of the payment period.
- How it differs from Loans and APR. Loans operate differently from cash advances in that you’ll pay different amounts as you pay back the loan (principal vs. interest). APR also enters all of the miscellaneous, unforeseen, tangential costs of a loan into the equation. In layman’s terms, the APR is the rate you’ll actually have to pay on a loan in order to borrow money. So if your given rate is five percent, your APR might be 5.5 – 5.8%, depending on other cost factors by the time you sign your contract.
Opt-outs of phone and/or email contact
If you are not a current customer of Par Funding, and would not like to receive phone and/or emails from us regarding business funding opportunities for your company, please contact us at (855) 382-1908 or email@example.com to be placed on our do not contact list.
If you have an open account with us, please understand that you cannot be placed on a do-not-contact list until your account has been closed.
All contact information provided to Par Funding or used in contacting prospective business customers, applicants for funding and/or current accounts are for business purposes only. Par Funding only provides business funding, and is not subject to consumer laws regarding personal contact information. Therefore, if a merchant provides a cell phone or home number in an application for our business funding services, they acknowledge that they are providing that number in connection with a business transaction.