What Are Merchant Cash Advances?
A merchant cash advance is a fast and simple alternative to a loan, and is not contingent on credit score, collateral or real estate ownership. Merchant cash advances are a good way to get businesses working capital quickly, particularly when the merchant is unable to obtain a suitable line of credit.
Merchant cash advances are leveraged against future sales, so you only make payments if your business is bringing in revenue!
The merchant cash advance service is very straightforward. It is an advance of funds given upfront to a business owner, in exchange for a business’ future credit card receipts. Credit card transactions are purchased in order to provide the business with capital. As credit and debit card transactions occur, the lender is automatically paid back a small fixed percentage of the receipt. This is a hassle free process for the business owner.
Today’s economic climate is tough for small businesses. Having good cash flow to cover unexpected expenses can make all the difference. Most businesses go under due to lack of working capital. Merchant cash advances are a great way to not only protect your company but, enable it to grow. Merchant cash advances are excellent tools for businesses that find themselves in a sudden financial crunch, and cannot receive a loan or unsecured line of credit.
- No Application Fees
- No Collateral
- Limited Documentation Requirements
- Rapid Cash Distribution
- No Real Estate Ownership Requirement
- No Closing Costs
- Pay ONLY if /when you are Receiving Revenue
- No Fixed Payments
- No Hidden Fees
- No Credit Score Requirements
What are the approval requisites for a Merchant Cash Advance? :
- Your business must be registered in the United States for at least 6 months.
- You must accept Visa or MasterCard as a method of payment.
- Your credit or debit card sales must reach a minimum of $5,000 monthly.
What Sets Merchant Cash Advances Apart From Traditional Small Business Loans? Merchant cash advance payments fluctuate with revenue, providing affordable financing that will get businesses through slower months and are convenient alternatives to traditional lender qualified “high risk” and start up businesses with seasonal revenues.
How Can Merchant Cash Advances Be Used? There are no restrictions placed on the uses of merchant cash advances. Unlike traditional loans, merchant cash advances do not require a plan; they do not have to be used for specific expenses. Many businesses use the advances for expansion, advertising, employee benefit packages, or the just to improve business cash flow.
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