A Merchant Cash Advance Might Be Exactly What Your Business Needs
Does your small business seem to ebb and flow with the economy? If so, you are not alone. Unfortunately, many small businesses, like yours, also struggle to secure loans through conservative institutions, like credit unions and banks. However, that doesn’t mean that you are without options. Our merchant cash advance program could be the solution that you have been looking for. We are able to lend amounts as large as $200,000 for each qualified business location.
How Do Cash Advances Work?
As the name implies, merchant cash advances are loans granted against your merchant service accounts, or your credit card sales. As these are sales-backed loans, more businesses are able to qualify with fewer restrictions than SBA loans. Therefore, don’t let the fact that you were turned down for a traditional loan steer you away from applying. These loans do not require perfect credit and can be an excellent alternative to more traditional loans.
What Are the Benefits of This Type of Loan?
The leading advantage of a cash advance is that lower credit ratings are acceptable, which is great for smaller enterprises. However, there are plenty of other advantages as well.
- No spending restrictions
- Quick approval and financing
- No hidden fees
- No collateral needed
- Minimal paperwork
Are you interested in a merchant cash advance? Call our offices to discuss your options and allow one of our representatives to explain everything in greater detail.