Merchant Cash Advance: The Flexible Business Loan Solution

Merchant cash advances allow businesses access to cash that is simple to secure and allows an easy repayment plan

. It can be painstaking to secure a bank loan and if you are able to attain one, you are likely to be be faced with demanding repayment plans. A merchant cash advance allows for an easier solution for businesses needing cash for any reason and the majority of businesses qualify.

Banks are extremely selective when it comes to approving loan applications. They require you show them a durable work history, tax returns, financial statements, business plans, great credit and collateral. You will be required to pay an application fee for them to even consider the loan and you may have to wait weeks to be approved if you meet all of their qualifications. In a harsh economy, banks are even more selective on who they will lend money to and a large number of businesses have had to shut down because they could not attain a bank loan when they are in dire need of one. But even businesses that are able to attain a bank loan are faced with rigid repayment plans that could put them back in the same miserable situation they started out in.

A merchant cash advance is free and incredibly easy to apply for. You dont have to squander weeks trying to compile and prepare in depth documents and information and you dont have to wait extensive amounts of time to be approved. Credit is not the prime factor in determination of approval so even businesses with unhealthy credit are able to qualify. Banks normally will not provide a business with a loan if they have not been in business for several years. A merchant cash advance merely requires your business to have been in operation for nine months. This flexible approval process means that most businesses will qualify.

A merchant cash advance permits repayment of the advance in the form of fixed percentages of batch credit card sales rather than on a fixed schedule. You only pay off the advance when your customers spend money so you do not have to fret about how you will repay it. The small debits are automatically taken out as you process credit card sales so you don't even have to worry about personally making the payments. Once you've secured the advance, you do not have to think about it again.

Not like bank loans, merchant cash advances are not reflected on your credit. This allows you to conveniently take advantage of other financial opportunities in the future. The amount of money your business will qualify for is based on your recent business history. It can range from several thousand dollars to thirty thousand dollars, with most businesses securing twenty thousand or more.

A merchant cash advance is a practical alternative for businesses that do not qualify for bank loans, businesses that do meet the standards but prefer the easier application process and repayment methods, businesses with bad credit, businesses in need of fast cash, and any other business that desires cash without the headaches and stress. You can use the cash wherever your business requires it whether you need to pay off debts, get equipment, or simply fund business expansion.

by: Chris Lehman

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