The Benefits of Merchant Cash Advances
Posted by By Jereme Sanborn on 31st May 2016
Long, tedious applications. Credit check restrictions. Lengthy approval and funding processes. If you’re running a small to midsize business and you need a cash infusion quickly, a traditional bank loan just isn’t going to cut it. So, whether you’re looking to purchase inventory, pay some bills or expand your business, you may want to consider a merchant cash advance. It offers a whole host of benefits you won’t get with a traditional bank loan, including:
- Minimal Paperwork: Unlike the lengthy application process associated with bank loans, applying for a merchant cash advance is quick and easy and can usually be done via a one-page document online.
- High Approval Rates: Turned down by the bank? Don’t worry… you don’t need perfect credit to secure a merchant cash advance.
- Same-Day Approvals: No more jumping through hoops for banks and then waiting for weeks on end to hear if you’re approved. With merchant cash advances, you could be approved for your funds the same day you apply!
- Lightning-Fast Funding: Why wait weeks to get your cash? With a merchant cash advance, you’ll get the cash you need need to grow your business within 72 hours.
- No Collateral Requirement: Why put your assets at risk? With traditional bank loans, you’re on the hook for your full loan amount, even if your business fails. Not so with a merchant cash advance.
- Better Cash Flow: Bank loans have strict repayment periods you have to stick to no matter how your business performs month-to-month. With a merchant cash advance however, you pay the same fixed percentage of your credit card transactions every month. That means even when business is slow, you’ll have more cash on hand to run your business.
After all, that’s why you needed cash in the first place…
Sign up for merchant accounts, payment gateways, gift/loyalty cards, merchant cash advance/ loan, check, EBT, Debit and payroll services that we offer through our Online Merchant Application.