Are you a small business owner who is experiencing financial challenges which you have to urgently address to keep your business afloat through loans and advances? Well, there are several options at your disposal and by far merchant cash advance companies are the best and most reliable external financial sources. If you are running short of working capital or cash needed for a small business upgrade or renovation, you can consider approaching a MCA to satisfy your needs.

Merchant cash advance providers are among the forms of alternative lending which provide you an opportunity to secure loans in a timely fashion. Loans obtained from MCA companies are more of like an investment on your business’s future credit sales. The security of these convenient loans is based on the revenue of your business. This is contrary to what is usually demanded when applying for the traditional loans; you need to provide a form of collateral.

If you have been frustrated as a small business owner, for instance; an application for a traditional loan being declined, or taking a long time to be approved, loans and advances offered by MCA providers are a suitable alternative. Statistics indicate that close to 60% of the traditional loan applications are usually declined and this is made worse with the long periods consumed during the loan approval and issuance. On the hand, most of the MCA loans a that are offered are usually approved and issued promptly.

There are few and reasonable requirements when seeking a MCA. You must be an established business with at least 6 months of experience in the business. Besides that, a copy of your business’s financial statement, a summary of your recent credit sales as well as the projected credit sales in the near future will have to be provided. As mentioned before, you don’t need to provide any form of collateral to qualify for a loan, and neither does having a bad debt history.

As a business owner, you will enjoy a sustainable, though relatively expensive repayment schedule. The repayments are done on a daily basis and this is based on deductions of a fixed percentage of the businesses daily credit or debit card sales. The implication of this is that you will have to part with a large part of your profit on lucrative days, but you will be left with enough cash to meet your daily working capital needs.

Loans and advances offered by merchant cash advance companies are a quick way of getting the finances that you direly need to keep your business running. The qualifications are few and our approval rates are quite impressive. Avoid laboring yourself with the long waits and high decline rates of most of the traditional lenders and try out MCA companies. Though this form of lending is considered to be the most expensive, it is quite sustainable in nature as you will be left with enough cash to keep going as a business.