Merchant Cash Advance Loans
When money gets a little tight for your business and you find that it is going to be difficult to meet upcoming expenses, you may be able to resolve your cash flow problems with merchant cash advance loans. We make these loans easy to obtain and the repayments come out automatically, leaving you nothing to worry about.
How a Merchant Cash Loan Works
A merchant cash advance loan enables your business to be able to get cash up front, and it is repaid out of the daily credit card transactions that your company receives. Because the money is repaid automatically, you never have to worry about late payments.
Why Get a Merchant Cash Loan
Businesses may have many reasons why extra cash is needed. Among them is the need to meet the difference between the time you receive payments and when the bills are due, new equipment is needed, you received a large order and need to expand to meet the demand, or you simply want to enlarge your business. This type of loan can quickly meet your need for cash.
The Time Frame for Repayment
This type of loan is based on the volume your business receives monthly. The percentage of money withdrawn usually enables the loan to be paid back completely within a three to seven month period. A set percentage of the sales made each day are withdrawn automatically until the total loan amount is repaid.
This type of loan is looked at by lenders as being different than a loan. This makes it easier to obtain, and it is often approved faster than a typical business loan.
Available for People with Bad Credit
Because it is viewed differently than a loan, the criteria for obtaining it are different than for a loan. This means that businesses with credit issues may also be able to obtain this type of cash advance, but they would need to be able to prove a sizeable amount of daily credit card transactions.
No Collateral Necessary
Collateral is not necessary when you apply for this type of cash advance for your business. The money is taken out each day and sent to the lender. This makes collateral unnecessary and it allows more businesses to be able to get the cash they need.
Fast Approval Process
When you need money fast, a merchant cash advance can be put into your hands faster than a regular loan. Fewer documents are required which enables your case to be reviewed and a decision made faster.
The volume of sales is considered, as well as the overall dollar amounts of the sales. The decision will largely be based on these two factors, and the loan size will also depend on it. We offer loans that are customized to fit your business needs.
Merchant Card Processing Services
Along with our loans, we also offer processing services for credit cards. This service can enable you to get wholesale rates when processing credit card transactions.
We invite you to contact us today for a free consultation to see if a merchant cash advance loan can help your business. The application is short and we provide fast approvals.