Why a Business Cash Advance may be right for your Business

If you are trying to obtain quick financing for your business, a business cash advance is one of the simplest, easiest and most popular methods. Your money can be  deposited in your bank account in as little as 7 days  .

Financing through Business Cash Advance also known as a merchant cash advance has been available for many years, but recent market conditions have made this option even more popular. Merchants are taking full advantage of business cash advance loans to meet their funding needs.

The benefit of taking a merchant cash advance versus a bank loan is that if your business sales via master card and visa slow down your cash advance repayment slows. When you obtain a conventional loan the agreed upon amount must be repaid no mater if the business slows or makes no sales at all. 

As long your business can prove $3000 or more in monthly payments processed by credit card, you are  eligible for this merchant loan. Is repaid against future credit card receipts, there is no fixed or schedule of repayment. In this manner, an advance can be easily repaid.

Documents a Business Needs to apply for a Merchant Cash Advance: 

Non-Seasonal Businesses
·         3 MONTHS CREDIT CARD PROCESSING STATEMENTS

·         3 MONTHS BANK STATEMENTS

·         COMPLETED SIGNED APPLICATION

·         VOIDED COMPANY CHECK

·         BUSINESS LICENSE 

       

Seasonal Businesses

The business must provide the credit card processing and bank statements for each of the previous twelve months immediately preceding the month of application.

·         12 MONTHS CREDIT CARD PROCESSING STATEMENTS

·         3 MONTHS BANK STATEMENTS

·         VOIDED COMPANY CHECK

·         BUSINESS LICENSE  

Small business cash advance is when a business sells its future credit card receivables at a discounted rate to the lender. This process is similar to factoring, but with this type of loan your credit cards receivables are factored instead of business invoices.

Repayment of this type of cash advance loan is through a business' credit card receipts.  Payments received by cash and check are retained by the business; only credit card payments can be used for loan repayment. Unsecured cash advances are automatically repaid when the business has a Visa or Master Card Sale, hence there are no fixed repayment schedules, and you never have to worry about missing payments or writing checks. 

For many small businesses, a merchant cash advance is a sound alternative for working capital.  Unlike a loan from a venture capitalist, would not take equity ownership of the company. Another major advantage to the business owner is that they are not personally liable to pay back the loan.  You are free to use the funds for any porpose you wish !

Call us today to find out what your business qualifies for 1-866-672-4884

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