Business won’t wait for you. Can you afford to wait for funding? In this economic crunch, Banks are tightening up their entire funding processes, making it difficult to acquire small businesses.
Hence there is only one financing alternative for small businesses when expansion or renovation is the only thing on your mind.
1. Merchant Cash Advance: Easy and Fast paperwork.
The process of getting a merchant cash advance is quicker and far less tedious than a bank loan.
Bank Loan: A lot of paperwork required, you will have to sign one application for in order to get hold of the real one.
2. Merchant Cash Advance: No collateral. You do not have to put your assets, such as your home, on the line as collateral for a merchant cash advance.
Bank Loan: To banks you have to provide collateral and personal guarantee. Do you have a house that could back your bank loan? A car? Or could someone co-sign the bank loan with you? In today’s tightened credit market, commercial bank loans and credit lines are difficult to come by, especially for small retail businesses and restaurants.
3. Merchant Cash Advance: Your loan gets approved in 1 hour and you get the cash needed in just 5 days. While on the other hand
Bank Loan: it can take you as long as 30 days to get approved for a loan and you are less likely to get approval anyway.
4. Merchant Cash Advance: 90% approval rates. You must show a track record of debit or credit card receivables to qualify. Many businesses that can’t qualify for a commercial loan can qualify for a merchant cash advance; your chances for approval are 90 % higher than a bank loan.
Bank Loan: If you have a significant amount of debt, then a bank is less likely to approve you for a significant loan. Your most favorable choice of loan at that point is Merchant Advisors for the capital you require.
5. Merchant Cash Advance: No use restrictions. You can use the money any way you choose, anywhere and anytime you want to.
Bank Loan: restricted for one purpose only.
6. Merchant Cash Advance: No fixed repayment schedule. You repay the cash advance according to your sales. The advantage of merchant cash advance is that if business is down, your repayment slows down as well. The advantage is merchant advisors offer easy repayment terms.
Bank Loan: is a fixed amount for a fixed term with regular fixed repayments. Whether you need to build, expand or renovate, merchant cash advisors can become your favorable business partners due to the flexible terms that they offer.
In times of financial crisis, a bank loan is hard to come by. That certainly does not mean that your dream of starting or expanding your own business should die because you weren’t approved. But now you have a choice, choose merchant advisor and acquire your small business loan today.