When small businesses require quick funds which they may be unable to obtain from a bank or other traditional financial organizations, the option of borrowing from merchant cash advance providers is the best bet. Simply put, a business cash advance is a lump sum of payment in advance for a percentage share of future gross sales revenue. This repayment is collected by the borrower via the lender’s credit card processor. The lenders’ prime target market consists of those businesses with strong credit card sales. The repayment time schedule and amount varies according to the amount which is borrowed.
Advantages of business cash advance
The advantages of a business cash advance are as follows:
· Quick approval and allocation of funds as compared to that of a bank or other conventional lenders in the market
· No application costs
· Minimal paperwork required
· No due date and set payment schedule – this means no regular fixed payments are returned to the lender. Instead, lenders collect a fixed percentage from the borrower’s credit card sales
· Amount of repayment is allowed to differ according to the borrowing business’ cash flow, so they end up paying less in slow economic times
· No need for lengthy credit checks – having a bad credit doesn’t affect approval of cash advance allocation
It is entirely up to business how it uses the cash advance as Secured Money Solutions place no restrictions in that regard. A business may utilize it as essential working capital, to pay debt, for store refurbishment, for purchasing equipment and facility upgrades or even store relocation. The choice is yours.
We at Secured Money Solutions readily offer merchant cash advances to enable business financing. We have made the whole process very easy, via our online application system. Once you have applied, we will respond promptly to discuss the financing options available for your business.
So don’t waste precious time and apply online now, or call us.