Small business owners fail to understand the ease with which they can acquire merchant cash advance. They choose to wait for months in order to acquire commercial bank loans, only to be disappointed in the end
1. Easy and Fast paperwork.
Merchant Cash Advance: The process for acquiring merchant cash advance is less tedious than a bank loan. It does not require hefty paperwork, hence ends up being less confusing and straightforward for any small business owner.
Bank Loan: Contrary to that, bank loans require a lot of paperwork, which always ends up puzzling and confusing the small business owner.
2. No Collateral Required
Merchant Cash Advance does not ask for any type of collateral from you. You do not have to put your assets on the line as collateral. Merchant lenders do not ask for any type of personal guarantee, making it easy to acquire credit for business.
Bank Loan: Banks ask for collateral and personal guarantee. This collateral may be in form of a house, a car, your business shares etc. in present times it is very difficult to acquire a commercial bank loan, especially for small business owners.
3. Merchant Cash Advance
As mentioned above, merchant cash advance is an easy solution to your credit problem. Merchant companies approve your loan need within one hour and provide you with the required cash within 5 working days.
Bank Loan: with banks you can never be sure as it requires month in approval of the application. Also you are less likely to get approval anyway.
4. 90% approval rates.
Merchant Cash Advance: With 90% approval rate, merchant loans are far better choice than banks. Many businesses opt for merchant cash advance for fast and easy money.
Bank Loan: if your business is in debt, then a bank is less likely to approve your loan application. Your most favorable choice of loan at that point is Merchant Advisors for the capital you require.
5. No fixed repayment schedule
Merchant Cash Advance: when business slows down, repayment slows schedule changes as well. You repay the merchant company according to your profits and sales. Such easy repayment terms make Merchant Cash Advance a better choice for small business owners.
Bank Loan: Banks demand fixed repayments. Whether you are in profit or loss, there are significant sales or not, you have to repay the loan in accordance with fixed repayment terms.
When banks imply rigid terms and delays application process only to announce after months that you are not eligible for a loan, then Merchant Cash Advance becomes the right choice for every small business owner.