Business Financing Through Merchant Cash Advance

Looking to obtain business financing but finding it hard to do so? If you are, then of course you already know just how many obstacles you need to struggle with just to be able to get your way when applying for small business loans from banks and other similar institutions. It can really be an arduous task, especially if you need to meet conditions that are close to impossible. If you are experiencing these hardships, a merchant cash advance can be the best solution to your business finance dilemmas.

You might now be wondering what a merchant cash advance is and how to obtain business financing with it. Simply put, a merchant cash advance is among the most hassle-free means of obtain financing for your business. It’s already well-known in the US but is relatively new in the UK. Generally, all types of businesses, whether small or large, will be able to avail of one as long as their main method of doing sales involves credit card transactions. It works as a cash advance that is determined largely by the volume of your credit card sales, that is, the amount of your cash advance is dependent on the average volume of your business’s credit card transactions each month. This is what makes it unique.

Merchant cash advance offers so many benefits that banks and other similar financial institutions will normally be unable to match. They are generally the following:

1. Approvals for merchant cash advance would normally just be within 24 hours. When you get a business loan through banks or other similar institutions, it would normally take weeks for it to even be approved. You also would have slimmer chances to have business loans approved when you apply for them in the traditional way.

2. Generally, you will be able to receive the approved amount within 10 working days.

3. A merchant cash advance is flexible. You can use the funds that you will be getting in any way that you want. When you get a traditional loan from banks, you would only be allowed to use the funds for one particular purpose.

4. Worrying about paying a fixed lump sum monthly is something that you can do away with when you go for a merchant cash advance. Why? Your monthly repayment is dependent on the volume of your average daily credit card sales. The less you have, the less you to repay.

5. Having another merchant cash advance on top of your current one can be done easily and without the need for re-application.

6. You need not worry about it having a negative effect on your credit score.

7. You do not need to present any collateral in order to have your merchant cash advance approved.

If you are still skeptical about the many benefits that a merchant cash advance can give your business, try talking to a specialist who will be willing to help you with any concerns that you may have. To be able to qualify for one, all you need to do is make sure your business is operating for at least a year upon application and that you deal with credit card transactions. It’s as simple as that.

You can no longer rely on banks to provide any form of restaurant finance. Get immediate help in acquiring small business loans at Credit For Merchants now.