Maintenance of financial accounts of your company is always a job to be handled by financial experts. If you tend to do the job yourself, you will remain under stress and strain, especially when you find out that you have no cash left in your reserves, and there is an immediate need of additional cash to run your business. It’s time to plan for having some loan from the market. If your company is well established and running for years, you’ll have no problem to get the required capital. But in case your company is a new enterprise, your options are limited. Credit Card Factoring is the most common and easy way out for you as a smart financing model.
In such circumstances, you must need to plan for Merchant Cash Loan and apply for it. Consult with your bank for the loan, or get in touch with a financial institution and/or a financial broker. In case you go for the former, you may have to go through a lot of paper works, guarantees and securities etc. You have to run around a lot and this will take your considerable time. Once you have the sanctioned capital in hand, (which may be much lesser than your actual requirement) the continuous headache of arranging a fix amount to pay back each month keeps bothering you till you are able to pay back the complete amount.
In case of Merchant Account Loan you remain free of all these troubles, no lengthy and complicated paper works, no securities and guarantees. No business history and bank statements are required. The main requirement is the Credit Card Transactions for the period you have been in the business, which should not be less than four months. The cash you acquire is almost the same as you required for.
The major advantage of obtaining Merchant Account Loan , apart from the fact that you get cash as per your requirement, is the Payback system. It is based on your monthly profits and varies according to your earnings. Less earnings, hence less payback amount, more earning means more amount to pay. Moreover, you can even compensate for your previous low payback in subsequent months.
Merchant Account Loan are available, ranges from as less as $5000 to as much as $ 500,000. Another positive aspect is they are attainable within a period of not more than ten days. Remember it is extremely important that you must explore the market before you select your merchant; to ensure that you get the best possible deal around you, which gives the maximum facilities, and less stress.