What is a merchant cash advance?
A merchant 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 merchant cash advance
The advantages of a merchant cash advance are as follows:
· 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
· Minimal repayment efforts as all payments are conducted electronically. This means less time consumed, as no checks have to be written or invoices to be mailed
· If a business operates without credit cards, all they have to do is to deposit a percentage of their revenues through a pre arranged program
We at Secured Money Solutions specialize in providing quick, readily accessible funds to small and medium sized business ventures. Secured Money Solutions enjoys a long affiliation with the top money lenders in the market and our high rating with the Better Business Bureau reflects our undying commitment to our work and trustworthiness in the loan market.
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.