Looking for a way to get business financing, but having a difficult time? If so, then you are already aware of the different hurdles that you need to overcome, especially if you are trying to get your loan through the banks. Trying to get business financing through traditional financial institutions means having to meet all sorts of difficult terms. If you want to be able to have access to business finance easily, then going for a merchant cash advance is a sound solution.
What is a merchant cash advance and how is it possible for you to get fast and easy business finance through it? It is among the fastest methods in order to obtain business finance. It already is popular in the US but is relatively new in the UK market. Generally, businesses like restaurant and retail stores who are operating on credit card transactions are the ideal candidates to have merchant cash advance. It is different from traditional business loans since it doesn't have a fixed lump sum monthly repayment. Its repayment schemes are monthly but would depend on the average volume of your business's daily credit card transactions.
Merchant cash advance offers so many benefits that banks and other similar financial institutions will normally be unable to match. They are generally the following:
1. They often get approved within 24 hours, unlike small business loans through banks which could take weeks to be approved, that is, if they ever get approved at all.
2. Generally, you will be able to receive the approved amount within 10 working days.
3. Flexibility is one great advantage you can be able to have with merchant advances. You can use the funds you will be receiving in any way you wish, unlike small business loans wherein the funds can only be used for a specific purpose.
4. There is absolutely no need to pay a fixed lump sum monthly once you go for a merchant cash advance. You will barely feel the repayments as they are based on the average volume of your daily credit card sales. The lower your credit card sales are, the lower your merchant cash advance repayment will be.
5. Having another merchant cash advance on top of your current one can be done easily and without the need for re-application.
6. You need not worry about it having a negative effect on your credit score.
7. You do not need to have collateral in order to get a merchant cash advance.
If you are still skeptical about the many benefits that a merchant cash advance can give your business, try talking to a specialist who will be willing to help you with any concerns that you may have. To be able to qualify for one, all you need to do is make sure your business is operating for at least a year upon application and that you deal with credit card transactions. It's as simple as that. - 32383
What is a merchant cash advance and how is it possible for you to get fast and easy business finance through it? It is among the fastest methods in order to obtain business finance. It already is popular in the US but is relatively new in the UK market. Generally, businesses like restaurant and retail stores who are operating on credit card transactions are the ideal candidates to have merchant cash advance. It is different from traditional business loans since it doesn't have a fixed lump sum monthly repayment. Its repayment schemes are monthly but would depend on the average volume of your business's daily credit card transactions.
Merchant cash advance offers so many benefits that banks and other similar financial institutions will normally be unable to match. They are generally the following:
1. They often get approved within 24 hours, unlike small business loans through banks which could take weeks to be approved, that is, if they ever get approved at all.
2. Generally, you will be able to receive the approved amount within 10 working days.
3. Flexibility is one great advantage you can be able to have with merchant advances. You can use the funds you will be receiving in any way you wish, unlike small business loans wherein the funds can only be used for a specific purpose.
4. There is absolutely no need to pay a fixed lump sum monthly once you go for a merchant cash advance. You will barely feel the repayments as they are based on the average volume of your daily credit card sales. The lower your credit card sales are, the lower your merchant cash advance repayment will be.
5. Having another merchant cash advance on top of your current one can be done easily and without the need for re-application.
6. You need not worry about it having a negative effect on your credit score.
7. You do not need to have collateral in order to get a merchant cash advance.
If you are still skeptical about the many benefits that a merchant cash advance can give your business, try talking to a specialist who will be willing to help you with any concerns that you may have. To be able to qualify for one, all you need to do is make sure your business is operating for at least a year upon application and that you deal with credit card transactions. It's as simple as that. - 32383
About the Author:
Financing for restaurants has never been made easier with Credit For Merchants. Offering the best loans for restaurants and the best advice on merchant loans.
