You badly need a cash for your business, and applying for a business loan seems too far fetched
. Your current credit score is negative and you have no remaining assets to come up with for collateral. You are in the crossroad where to look for additional funds to keep your business' operations running, but you need it more than ever. Do not fret, for there is a solution to dilemmas such as this one. You can apply for a merchant cash advance.
An advance is so unlike a traditional business loan that requires endless paper works, numerous requirements and strict regulations to follow. The process for the an advance is very easy and it only requires minimum considerations. If you are interested to know if applying for an advance could be beneficial for your business, then read on and learn what you need to comply.
What are the requirements for a merchant cash advance? These are the basic requirements when you do apply for a cash advance:
1.Your business must have existing credit card transactions as mode of payment. This is the most basic requirement since merchant cash advance providers will get a small amount out of every credit card transaction in your store as your payment to the money you got from them. The provider is paid when you are paid as well.
2.Your business must be in existence for a minimum of six months.
3.You can provide a minimum of 3 months processing statements on your credit card transactions.
You will not be needing collateral, or you do not have to worry that each and every month there is a fixed amount that needs to be paid. Regardless if business is doing good or not, like what happens when you apply for a traditional business credit. Having an advance is the solution to every entrepreneur's problem when it comes to keeping business up to date. It is risk-free, easy procedure and faster transaction. Apply for one now and enjoy its numerous benefits for the growth of your business.