Merchant Cash Advance
Obtain instant access to your working capital using the future collateral
A merchant cash advance is not a merchant loan; instead, it is considered as the best business cash advance consolidation loan on your future revenues. If your business ends, you would not have to worry about paying it back. Until and unless the advance is paid off, payments are automatically deducted from profits generated on your merchant account. So, this type of financing allows you to borrow against future profits and get the cash in your pocket whenever you are in need of it.
Who is eligible for?
The good thing about merchant cash advance financing is a lot of businesses would easily qualify to avail this loan. This is because this working capital for merchants needs no down payments and no collateral. As long as you can prove you produce enough card sales to meet the monthly payments, you will be qualified hassle-free. As every merchant cash advance lender has diverse requirements on their advances, some will have minimum requirements around these factors:
- Monthly or periodic revenues
- Months in business
- Credit or debit card sales
How to apply for?
In a lot many cases, you don’t have to submit a pile of financial documents and so, there won’t be a credit pull. You can keep all your precious collateral without any concern. Your lender would just simply review your previous 6 months of bank statements or receivables. You can easily apply for your merchant cash advance in just a few minutes. All you need to do is to just fill out the super-simple application form and compare options available from 50+ reputed lenders.
How does it help your business?
For small businesses or big enterprises, a merchant cash advance is the highly recommended loan option as it provides quick access to the capital. Whether you require funds to meet your equipment needs or you have found a growth opportunity which is too good to refuse then the best merchant cash advance loans have got you covered and definitely, you will get funded in just 24 hours. As soon as you receive the approval on your loan advance, you will repay the loan by having a percentage of your daily credit card deposits withheld for the lender.
Thus, do your homework and figure out how much capital you need, compare offers and pick the deal that best fits your budget and needs.
Because you’re only as good as the tools you use. See how much your equipment loan will cost.