This site presents some competencies of Prestala, originate, and risk-manage various types of financial products and services to small and mid-sized businesses, proprietary data and scoring models, workflow solutions, data capture mechanisms and predictive analytics, among others.
Any application for business funding with PRESTALA is subject to a separate agreement that will be provided to you upon application. The Terms and Conditions of all PRESTALA products exist separately, but do not replace or invalidate, the ones stated within this document. If you do not agree to any of these Terms or Conditions, whole or in part, then please do not use the Website or any of PRESTALA’s services and immediately discontinue accessing or using the Website.
Any submitted information by you will be used as part of the criteria for business funding decisions to be made. Please note that Prestala is not a bank, investment advisor, broker, or financial planner. Before making any financial decision and/or implementing a financial strategy for your business, you should consider seeking advice from a lawyer, accountant, tax advisor or other relevant professional service provider. Your eligibility for any Prestala product is subject to our determination and our sole discretion. All financial decisions made by any business owner are their own responsibility.
The financial products offered through Prestala (as well as any partners or affiliates), is a purchase of a specified amount of a business’ future receivables at a discount. The transaction described here is commonly referred to as a “Merchant Cash Advance” or “MCA.” Prestala does not provide loans or extensions of credit; instead, we purchase merchant’s future receivables for which we bear the risk of loss. Any mention or reference of the word “Loan” on the PRESTALA website refers to the products that the company has to offer, not an actual loan. Prestala’s financial products bear no likeness to what can be defined as a loan and, therefore, should not be considered to represent a loan in any way shape or form.
Website and Service Use
You may not use the PRESTALA Website if you are under 18 years of age or if you are not a resident of the United States or its territories. By using the Website, you are representing and affirming that (a) you are authorized to act on behalf of your business or company and to bind such entity, (b) all information provided by you or your business partner(s) is true, accurate and complete, (c) you are not misrepresenting your, or another identity or any information related to your current financial accounts, (d) you are a resident of the United States or its territories, (e) any funds that you receive from Prestala shall be used solely for business and not personal purposes, (f) your use of these services does not violate any applicable law or regulation, (g) you are over 18 years old (your profile may be deleted without warning if we believe, in our sole discretion, that you are less than 18 years of age or have violated the terms stated within this agreement).
You accept sole responsibility for any and all of your activities using this website, including, but not limited to conduct on the site. You will not use the services for any illegal, immoral or unauthorized purpose. You will be responsible for ensuring that you do not violate any applicable laws or statutes, including but not limited to, copyright laws. You will not transmit or upload viruses, worms or any other destructive code to the Website. You will not use bots to engage in PRESTALA’s services. PRESTALA may also impose limits on all or any of the services offered or restrict your access without notice or liability. PRESTALA may include commercial opportunities or content in any of our product, image, services or webpage. Do not share full or partial credentials for the Website. If we determine that your login information is being shared in full or in part, we may choose to terminate your access to all or part of our services.
By submitting a request for pre-qualification or an application on the PRESTALA Website or to PRESTALA, you authorize us to contact any third party, including but not limited to any credit reporting or database service. Such reports will be used by PRESTALA to determine eligibility for a business funding solution. By submitting an electronic application, the applicant agrees to receive updates from PRESTALA and its partners regarding this account via fax, telephone number (including text messages), or email address, provided for the account. Prestala cannot be held liable for any charges incurred by messaging. By providing a mobile device number, you expressly agree to receive communications at that number from Prestala.
You authorize PRESTALA to consider all information on your application to be true and accurate unless we are contacted directly and made aware of any change. You are licensing PRESTALA any information, data, passwords, content or other materials you provide for the purpose of enabling PRESTALA and our service providers to provide you with the services. As part of our approval process, we may use a neutral third party service to access your business’ financial information. Third party services used for financial information may have their own terms and conditions of use or access. During the term of this agreement, Prestala and all service providers may use, display, modify, distribute and create new material using your content to provide our services to you. By submitting any content or materials, you automatically agree, or promise that the owner of such content or materials has expressly agreed that, without any time limit, and without payment of any fees, PRESTALA may use the content or materials for the purposes set out above
You agree to provide true, accurate, current, and complete information and you agree to not misrepresent your identity or any other account information. You agree that PRESTALA is making no commitment or guarantee that any product, evaluation, or guidance provided by PRESTALA will result in any approval for business funding from PRESTALA or any third party. You acknowledge that by engaging or communicating with Prestala, you are not guaranteed any form of funding. PRESTALA may decide, in our sole discretion, to fund or not to fund any applicant. You understand that the decision to fund or not to fund any applicant does not need to be explained or justified to the applicant or other third parties.
Authorization to Enter a Business Agreement Electronically
By using our Website, you assent to: (a) transact business with PRESTALA online and electronically; (b) receive disclosures electronically, either from the Website or via an email address provided by you; and (c) receive all relevant documents, communications, notices and contracts related to business funding pre-qualification, servicing, funding requests, or collections electronically.
The submission of a financing application electronically has the same force and effect as if the application was signed by hand or used a physical ink signature. The applicant certifies that the account will be used solely for commercial and business purposes and not for any other reasons outside of that scope. The applicant, or the person submitting this application if not the applicant, warrants and represents that the applicant(s) and owner(s) have authorized the applicant to enter into contracts on their behalf and behalf of the business.
Consent to contact
You authorize Prestala and its affiliates, agents, as well as our service providers to contact you using automatic telephone dialing systems, prerecorded or artificial voice message systems, automated email systems, and text messaging systems in order to provide you with any information relevant to your pre-qualification, requests for funding and/or accounts. You authorize PRESTALA and any partners or affiliates to make such contacts using any telephone numbers (including, but not limited to, landline, wireless, and VOIP numbers) or email addresses you supply. You understand that anyone with access to your telephone, phone number, email account, or other owned electronic communication devices or may listen to or read the messages that PRESTALA or our partners leave or send you, and you agree that we will have no liability for anyone accessing such messages.
You understand that by consenting to receive telephone calls, text messages, emails and other electronic communications that you may incur charges for the use of such services. Prestala and our partners cannot be held liable for any charges incurred by use of these communications or the platforms they rely upon. At any time, you may withdraw your consent to receive text messages and calls or to receive artificial or prerecorded voice message system calls by notifying PRESTALA in writing.
The Prestala Website contains third party content, as well as links to third party content. Third party content and links to third party content are not owned or controlled by PRESTALA, and the company bears no responsibility for the content accessed on third party Websites. In addition, PRESTALA will not edit or censor the content of any third-party site. By using our Website, you waive Prestala from any and all liability arising from your use of any third-party website. We encourage you to be aware of the privacy policies and terms of all other websites, especially the ones accessed through our Website.
The online application and its platform are subject to their own terms and conditions.
When accessing the Website via a mobile device (i.e., a smartphone or tablet), in addition to all other requirements, you must have the capability and software on your mobile device that allows you to print and save any disclosures or other documents presented to you during the pre-qualification or application process. If your mobile device does not have these capabilities or does not have the proper software installed, you are required to access the Website through a device that has the capability to print all documents and disclosures presented.
The content on the PRESTALA Website and the services available through the Website are subject to copyright and other intellectual property rights. These copyrights and intellectual property rights apply to all resources on the Website including, but not limited to, images, descriptions, designs, videos, forms, messages and terms of service. To the best of PRESTALA’s knowledge, Prestala only uses content that it owns or is otherwise allowed and permitted to use by the owner(s) of the copyrights and other intellectual property rights therein.
By using the Website, you agree not to copy, distribute, reproduce, sell, broadcast, transmit or create derivative works from any of this content. You also agree not to reverse engineer or reverse compile any of the Website or any of the platforms that it relies upon. Prestala retains all rights, title, and interest in the Website and all digital representations of Prestala. These rights and interests cannot be transferred to any other party unless expressly authorized by PRESTALA. You are encouraged to create links to the Website either by placing “https://www.prestala.com/” in text or by mentioning “Prestala” and placing the hyperlink inside the company name. Any other means or representation of linking to the Website is not allowed.
You agree that your use of the Website and all services accessed through the Website is done at your sole risk and that Prestala cannot be held liable for any damages or expenses caused by accessing the Website. Prestala shall not be held liable for any direct or indirect, incidental, special, or consequential damages, expenses, or losses that may arise in connection with: (a) use of the Website, or from your use of, or your inability to use, the Website or any of the information provided on the Website; (b) any failure of performance, error, omission, defect, interruption, delay in operation or transmission, computer/ mobile device virus or line or system failure; or (c) any disclosure of information when replying to you by any electronic means or receiving electronic communications from you. These limitations apply even if we have been made aware of a possibility of such damages, losses, or expenses. Prestala does not endorse or encourage the use or purchase of any products or services advertised on the Website. Prestala accepts no responsibility for third party content or services accessed through the Website and cannot be held liable for any damages, losses or expenses incurred by them.
You shall defend, indemnify, and agree to hold harmless Prestala and its affiliates from and against any and all damages, losses, expenses, claims, demands, or liabilities, including but not limited to attorney’s fees arising from your use of the Website, your violation of these Terms and Conditions or of applicable law, or violation of any third party right or in connection with any claim by a third party (including without restriction intellectual property claims). You agree to this indemnification obligation and further agree that you will fully cooperate in the defense of any such claims in connection with (whole or in part) your use of the Website and these Terms and Conditions. We reserve the right to assume exclusive control of any and all matters subject to indemnification. Any claim or dispute between you and Prestala in connection with the Website or these Terms and Conditions will be decided by a court located in Southampton, Pennsylvania. You will not settle any such matters without our explicit written consent.
Prestala reserves the right to make changes to this agreement at any time and without notice. Changes made to this agreement are effective at the time of posting. The most updated version of this document will always be accessible directly on the Website. We urge you to view this document regularly and take note of its changes as you use the Website. By using the Website, you agree to the Terms stated in this document. You may not violate these terms in part or in whole.
Merchant Cash Advances
The Site outlines Prestala’s capabilities. The financial product offered through Prestala (partners or affiliates), is the purchasing of a specified amount of a business’s future receivables at a discount. These purchase transactions are typically referred to as “Merchant Cash Advances” or “MCAs.” MCAs are not loans or extensions of credit, but rather true sales of a merchant’s future receivables for which Prestala bears the risk of loss. In an MCA transaction, MCAs have no set term, maturity date, or fixed or minimum payment amounts (and, therefore, no late fees or penalties). Business owners are required to guarantee the performance of certain covenants in the MCA agreement, such as the business owner’s covenant to use the designated card processor exclusively or covenant not to place a stop payment on authorized ACH withdrawals. However, MCAs include no personal guarantee of “payment,” such as those associated with traditional loan financing. In the MCA agreement, business owners do not guarantee that they will deliver the purchased receivables nor do they pledge personal collateral to secure such an obligation.
Effective as of November 29, 2014