Do you have a business model that you’d like to expand? Are you completely sure it will succeed because you are ready to dedicate your sweat and blood too? Do you struggle to get a bank loan because of some reason? Or do you need the capital urgently and no bank will deliver at the moment’s notice?

Introducing Merchant Cash Advance, generally known as credit card receivable funding. It’s a viable, quick funding for small businesses and owners just like you. In laymen terms, you will get your urgent funds through the non-bank lender, who will attain his/her investment (along with some interest) through different agreed upon means.

A non-bank lender can be anyone from a big financing firm, an independent lender or a funding organization.  These days, there are hundreds of them and can be easily contacted via the internet. You approach them exactly the same way as you would to a bank. You give your proposal, negotiate the details, agree upon them and finally sign the contract. But unlike in a bank, where a transaction is done over a long period of time, through several tedious installments, Merchant Cash Advance provides you with instantaneous funds.

So, now you can make your business get the financial backing it needs to make your dreams come true with the help of a non-bank lender through the Merchant Cash Advance.

How Merchant Cash Advance functions

Unlike banks, which adhere to specific governmental guidelines, Merchant Cash Advance operates solely on the separate guidelines for non-bank lenders. The terms, although, can be negotiated (which solely depend on your negotiating skills) but in the end, you only sign the agreement when both parties are completely satisfied with the agreed terms.

All you need to have to apply for Merchant Cash Advance is a projected credit card sales volume.  But the maximum amount of funds you can get through MCA is $150,000. The non-bank lender then will take a fixed or variable percentage of your credit card sales from your business venture over the agreed period of time till the agreed amount of repayment is achieved.

What you need to qualify for Merchant Cash Advance

It takes about 3 to 14 days to avail the funds and the application guidelines that you need to adhere to qualify for Merchant Cash Advance from a non-bank lender are as follows.

  1.    The business should be five months mature
  2.    You must make $75,000 a year
  3.    You must have a credit score above 400 points

As mentioned earlier, non-bank lenders do not operate at common criteria or ask for completely similar qualifications. The above guidelines, however, fit the general guidelines most Merchant Cash Advance providers ask for.

To find a non-bank lender for availing Merchant Cash Advance, all you need to do is search the internet as it is filled with hundreds of non-bank lenders ready to provide you with your required funds and you’ll be surprised how many will be ready to fund you at a moment’s notice. Although, a word of caution, it is advised to do an extensive research on the non-bank lender before agreeing or signing any contract.

Advantages of Merchant Cash Advance

The best and foremost advantage of getting Merchant Cash Advance is the speed with which the funding takes place. It’s simply unmatchable and you can save yourself from all the hassle of banks. Non-bank lenders can be approached directly and you can establish trust yourself before signing any agreement and can also negotiate the terms on which you’d like your funding, which simply, isn’t an option with a bank.

  1.    No limitations of the expenditure of the money

Once your application has been accepted by the non-bank lender, you’ll get your funding to exponentially expand your small business and invest in all the innovative planning you have made. There are no bonds or limitations on what you can spend this money on due to the fact that it is not a bank but a non-bank lender who you are dealing with.

Although, due to the fact that Merchant Cash Advance will happen because of a non-bank lender, the interest rates will be higher than that of a standardized bank. But, for a small business, which would otherwise struggle in attaining a bank loan due to many legal ramifications, MCA is a boon.

  1.    Hassle free negotiations

While working with a bank, you’d have to follow their already prescribed, strict rules and regulations and there is never any scope of negotiations. But while you’re dealing with a non-bank lender, negotiations are much more plausible. If you’re able to convince the MCA lender with your own terms then that would be the best deal you can get.

  1.    Fast track process

While all other forms of loans and money lending options have set timelines and can drag over weeks or even months with the loan process, it will take just a few days to receive money from the non-bank lender through the Merchant Cash Advance, which is necessary if you’re in an urgent need for funds. Not just that, you’ll also be able to deal with your lender at complete transparency.

  1.    No collateral required

Collaterals are quite important for any bank loan which can put any of your valuables like your home, precious jewelry or trust funds in danger, as failure to pay back will make them the bank’s property. But while working with a non-bank lender for availing Merchant Cash Advance, no collateral is required. This will not only help you work on your business guilt-free but also let your property and valuables safe, with you.

  1.    Highest rates of success

The best part about working with a non-bank lender for Merchant Cash Advance is that there will be mighty higher chances of availing the fund as compared to that of the more traditional ways of generating funds. While banks may reject you even if you fail to meet any one of their requirements, Merchant Cash Advance is much more flexible.