Business Cash Advance for Merchants that Accept Credit Cards
Did you know that there is a business cash advance available for merchants that accept credit cards? Unfortunately many merchants do not even know that this alternative funding product is available.
These cash advances are also know as a Merchant Cash Advance. They are not considered loans but cash advances from future credit card sales. A small percentage is deducted from your monthly merchant account sales until the advance is paid in full.
Unlike a loan where you pay back a set dollar amount monthly, you would pay a set percentage amount from your monthly credit card sales. This is unique because if you have a bad month, your percentage is the same but the amount you pay will be less then if you have a great month. So your payments are based upon your monthly sales.
This Type of Alternative Funding has Many Great Advantages to the Merchant:
- No Application Fees, Appraisals or Closing Costs
- Will Not Affect Personal or Business Credit Lines
- Flexible Repayment Terms
- Fast funding – as few as 7-10 business days from application
- No Obligation to Find out How Much You Qualify For
- No Personal Guarantee or Collateral
- Payment Aligns with Cash Flow
- High approval rates- Currently averaging 85%
- Leave Traditional Lines of Credit Available
- Not based on personal credit history
- Easy application process
- Minimal documentation
- Collection is automated through future credit card swipes – no checks to write
- Entire debt obligation usually completed within 6-8 months
Business Cash Advance is a unique alternative funding source for merchants. It is an untapped short term financing that can help businesses get working capital they need now based upon future credit card sales.
Most merchants do not even know that this type of funding is available. If you are a merchant that accepts credit cards and would like to learn more then click here.
Some Uses of a Business Cash Advance:
- Pay off Business Debt
- Working Capital
- Purchase Inventory at Discounts
- Renovate the Store
- Upgrade Equipment
- Make Repairs
- Pay Taxes
- Pay Payroll
- Grow the Business
- Open New Locations
- Advertising and Promotional Programs
- Pay off Personal Debt
What if my business does not qualify for this type of funding?
In my article; Small Business Funding and Business Startup Loans I discuss various types of financing available to small businesses. Many of these alternative funding types are often overlooked when a small business is looking for working capital or help with debt restructuring or settlement.
Sometimes we as small business owners forget that there are many options available to us if we look and think outside the box.
Don't forget to Sign up for my Newsletter below. Your email will be used only for the Home-Based-Business-Solutions newsletter. I respect your privacy and will not sell your email.