Merchant Cash Advance

Merchant cash advances are an excellent funding alternative for small businesses. Unlike traditional loans and financing options, merchant cash advances offer many advantages. A cash advance can be easily obtained by businesses that have processed credit cards consistently for at least six months. Businesses benefit from quick approval, fast funding, no hidden fees, and repayment timeframes that are scaled to the revenue of the business. Loans can be used for many purposes, including payroll, new equipment, expansion, bill payment, and many other common business expenses. Since the credit decision is based more on the revenue of the business than the personal credit of the owner, merchant cash advances can be much easier to obtain than traditional financing. In fact, a merchant cash advance is the ideal choice for a business owner who has already tried unsuccessfully to get a loan from their bank, or who doesn't wish to endure the overly complicated and distracting process of a bank loan application. Many other benefits of merchant cash advances include automatic deduction from credit card processing, limited documentation requirements, flexible repayment options, and a fixed repayment amount. Unlike credit cards, with low limits, late fees, and escalating balances, merchants who receive a cash advance know exactly the amount and timeframe to pay back their loan. And unlike other funding options, if business slows down than the repayment rate slows down at no cost to the business owner. Successful examples of merchant cash advances include a restaurant owner who received an advance to finance a second location for her restaurant. While her local bank would not loan her the money, she was able to secure a merchant cash advance within 48 hours and successfully opened her second location on schedule. Another restaurant owner had a large catering contract and needed an advance to finance food and labor cost for the big event before he received final payment from his customer. Cash advances have so many benefits for so many businesses, that they are an important and often unexplored resource available to entrepreneurs. When a gym owner needed to upgrade his equipment to continue growing his business and attracting new customers he thought he was out of luck when the bank turned him down, but a merchant cash advance was able to help him get his business growing again. And a small retailer that wanted to participate in an exciting product launch was able to stock her shelves and triple sales because a merchant cash advance gave her the capital she needed. Merchant cash advances are truly a great resource delivering success and prosperity to small businesses across the nation.