The Merchant Cash Advance industry is gaining popularity in the finance industry because the cash advances can be applied for online, quickly processed and are highly flexible. However,  small businesses consider banks and commercial institutions when it comes to obtaining a business loan. The strict rules and guidelines followed by the banks and other government funding institutions are not able to approve loans with bad credit or without security. Hence many businesses are failing to get funds approved through traditional banks and even though approved availing funds may take a few weeks to a month’s time which not every business can bear with.

Small businesses require adequate cash to meet the running costs of the business which include paying employee salaries, repairs, and maintenance of the equipment or tools, launching new products and marketing campaigns. Loans that are rejected by banks puts business success in jeopardy until one does not find and avail an alternative finance source.

Merchant cash advance is one of the best options for small businesses

Fortunately, merchant cash advance is one of the best options for small businesses that are looking for funds to meet short-term expenditure. The merchant cash advance is a safer alternative, and availing business loans can prove to be expensive for the firm in the long term. The cash advances are easy and quick alternatives to traditional bank loans where you can avail loans between $2500 to $300,000 easily to meet the business expenditure. A business merchant cash advance is an unsecured loan available to your based on the future credit or debit card sales.It is repaid as a percentage of card sales, and you will never need to worry about maintaining cash for repayment of the loan in your business or personal account. The business merchant cash advance is ideal for seasonal businesses, construction companies, contractors and restaurant businesses.

One major advantage of the merchant cash advance industry is that the loans are never based on the credit history or assets of the company. The cash advances for business can be availed by business owners with bad credit and are collateral free. One more advantage of the cash advance loans are the funds availed can be used for any purpose. The merchant cash advance aims at boosting the cash flow to small businesses and does not impose any restrictions on the spending of the cash advanced.

How to Qualify?

The merchant cash advance can be availed by businesses with a merchant account and deals majority of sales using card terminals. The business needs to be at least six months old and should be having a six-month-old merchant account. The average card sales transactions on a monthly basis should be at least $2500.

Benefits

  •    The merchant cash advance can be applied for online in a few minutes and involve less paperwork when compared to traditional bank loans
  •    The cash advances are sometimes approved in as little as 24 hours.
  •    The lender collects information directly from the merchant account provider of the business resulting in less documentation
  •    Repayment based on sales for the specified period which means no sales no need of repayment for that period.
  •    No hidden costs and no monthly late payment penalties
  •    High approval percentage

Merchant Cash Advance industry aims at boosting the capital of the small and seasonal business when they need it the most. What more can any business look forward when availing a loan than quick release of fund