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Need A Small-Business Friendly Financing Solution? Consider A Merchant Cash Advance
24 Aug 2020
Small businesses need cash from time to time to help sustain business operations and fuel business success. But what do you do when you just don’t have the money and traditional business financing sources won’t fund you? A merchant cash advance for small business can come in handy in such situations. Here how this innovative business financing solution can be beneficial for your small business.
High Approval Rates And Collateral-Free Option
Providers of merchant cash advance for small businesses take into account various factors such as how long the business has been in operation and incoming revenues to determine eligibility. If your business has been in operation for six months or more and it is experiencing a healthy stream of incoming revenues, you have a great chance of getting approved for funding. Moreover, a merchant cash advance is a collateral-free business financing model that provides you with quick upfront capital which makes it a low-risk financing option.
Quick And Easy Processing Within Days
Applying for a small business cash advance is a simple and no-cost process. You can simply submit an online application form within ten minutes by providing basic business information. Once you submit the application, a representative of the merchant cash advance company will get in touch with you soon after. If everything goes well and you agree to the terms of the contract, you can have upfront capital in your business bank account within 2-3 business days. You are free to use the funds for any business-related purpose.
Flexible Remittances Through Future Receivables
Repayments for a small business cash advance are done from future receivables. Typically, a portion of your daily or weekly sales goes towards repaying the borrowed amount. You make remittances till the entire outstanding amount and applicable fees are paid in full. Because remittances are tied to business receivables, a merchant cash advance works with the highs and lows of your business  -you can pay off more when sales are high and you can pay off less when there is a lull in business. This kind of flexibility allows small business owners to pace repayments without an overwhelming burden on cash flow.
Makes It Possible To Compete With Bigger Players
Small businesses are considered to be high risk by traditional money lending sources and often find it difficult to obtain working capital required to undertake business growth and business expansion plans. Merchant cash advances allow small businesses to compete with larger companies. With a merchant cash advance, small business owners can easily have the funding for any business need including purchasing equipment, stocking inventory, covering employee payroll, implementing an advertising/marketing campaign and opening at a new location.
Whether you’re the owner of an automotive business, beauty salon, liquor store, medical store, or any other small business, you can use a merchant cash advance to achieve great levels of success. Apply now and get the business financing you need to run and grow your business!
Summary: IIt’s unfair how even healthy small businesses are denied business financing due to various reasons. In recent times, cash advances have come to the rescue of small businesses in need of quick and easy funding.
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