What Is Business Cash Advance?
A business cash advance is originally an amount to business in exchange of its future credit/debit card sales. The business cash advance is a small business financing option described the short payment terms usually under 24 months time frame and regular small repayments that are usually paid each day as opposed to the large monthly repayments associated with conventional financing. (Source: Wikipedia)
Why To Choose Business Cash Advance?
Majority of small enterprises that are looking for financing to help their business develop will decline by the banks. Even after they have fulfill the requirement of credit score criteria, made a business strategy plan, offered financial records and collateral security, it is still possible that your loan application will be declined after all this. The business cash advance is a type of financing solution that is safe and deemed as primary source of funding.
A business cash advance provides you the required funding for your business based on your future credit/debit card sales. There is no need to provide business strategy plan, collateral security and also a bad credit rating won’t stop you from getting your required funding that your business direly needs.
What Are The Advantages of A Business Cash Advance?
• No collateral requirement
• No personal or business guarantee required
• Minimal Paperwork
• Flexible terms
• Quick Approval
• Simple applying process
• No hidden charges
How Long Will It Take To Pay Back A Business Cash Advance?
There is no preset time frame with a business cash advance and that is why we can’t use the term “interest rate” with business cash advance. Since the repayment of business cash advance is made through a percentage of a business’ credit/debit card sales, there is no specific repayment time frame.
How A Business Can Qualify Business Cash Advance?
There are some requirements to secure business cash advance:
• Your business must accept Master and Visa Cards
• Your business should process $2,000 in credit card transactions monthly
• Your business should provide the last three months of bank statements and if your business is seasonal then you need to provide statements for the last 12 months
• Your business age should be at least 3 months
How Much Does It Cost?
Depending on how much your business need and how much you generate in sales, the advance amount will be settled accordingly. You can speak to one of our financial experts to help decide exactly what financing will cost you. We provide the most competitive rates in the financial market; therefore you can expect an excellent offer from Merchant Advisors. We do not charge any applying fees, so apply today to find out how much your business can get for free.
Is Bad Credit Can Get Business Cash Advance?
The business cash advance from Merchant Advisors has no requirement for collateral, personal or business guarantee, and the bad credit is not a problem, you can still get cash advance without any hassle. There is no hidden charges and extra cost.
What Makes A Business Cash Advance Different From Other Loans?
A business cash advance is not a loan; it is just a cash advance offered in exchange of a portion of your business credit/debit card sales. A cash advance require minimal paperwork, no interest rate, and you can get funding in just 24 hours while other banks loan have strict terms, fixed repayment time, collateral requirement, and sky-high interest rates.