Is the business of yours in instant need of money flow? Is the credit crisis slowing down your business? Is a reduced credit rating preventing you from giving the business of yours the funds it needs? Have you been tired of waiting for weeks to get a loan sanctioned? Do you want to procure cash in a fast, effective and easy manner? Is sure, then merchant cash advance (MCA) is the answer to each of these issues.
Merchant cash advance offers medium-scale and small businesses an easy and quick way to procure money for maintaining inventory, paying bills in a prompt fashion and for expanding the company. You just exchange a portion of potential business credit receipts for a lump sum of money. You’re charged a fixed percentage, typically eight %, of complete credit card receipts every month. If the recession induced poor credit ratings or perhaps collateral are preventing your securing commercial bank loans, then merchant cash advance is particularly helpful for you.
Allow me to share the benefits merchant cash advance has to offer.
1. No Credit or perhaps Collateral at Stake
Merchant cash advance is treated as a purchase or perhaps a sales transaction without a loan. Consequently, it doesn’t impact your business credit rating, unlike commercial bank loans that could wreak havoc with the credit report of yours. This eliminates the danger of losing collateral, making merchant cash advance an extremely safe funding option for the business of yours. Know More about merchant loan from here
2. Application that is easy and Disbursement Process
You are able to retrieve your MCA application form online. The software doesn’t need tax returns, financial statements or perhaps business plans as accompanying documents. MCA providers simply rely on 2 criteria, monthly credit card returns and number of years in business, to assess the suitability of yours for merchant cash advance and the cash amount of yours. Generally, you have to have monthly credit card sales of more than $5000 and a minimum of 9 weeks in business to be appropriate for MCA funding.