By the time most business owners contact me, they have already been put through the ringer. It is up to me to help belay that feeling of hopelessness that many people feel after being told by the bank that they are not eligible for a loan because of their poor credit history or because they lack sufficient collateral.
There is nothing worse than that feeling of being bogged down by debt. Getting additional working capital for your business offers a sense of empowerment that comes with being able make decisions and the ability to steer your business in a direction that you choose. You are in charge of your own destiny.
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A few years ago, business cash advances did not even exist. If a business owner could not get a loan, they were pretty much out of luck. Many of them had to shutter their doors and walk away from their life's dream forever. Thankfully, the business cash advance (or merchant cash advance) changed all of that. Now even if your credit is less than perfect, or you don't have any collateral; you can still get the working capital you need to change the course of your small business.
The genius behind this type of financing is based upon the age-old practice of receivables factoring. The difference is that they now focus on your credit card receivables. So it is not important what your credit looks like so long as you are processing a steady amount of credit card sales each month.
How much you qualify for depends on what your credit card sales are. The typical advance is about 2 times the amount of your average monthly credit card sales. For example: if your credit card sales are $5K each month, then you may qualify for about $10K.
The time is takes to pay back the merchant cash advance is usually between 4 and 9 months depending how good your sales are. The pay back is set up so that when your sales are slow, you pay back less which in-turn lengthens the payback period. This flexible payback structure greatly reduces the chances of defaulting and makes it much easier to meet your other financial obligations.
There are several advantages of a merchant cash advance. Here are a few of these advantages:
They offer an extremely high approval rate when compared to traditional loans. The applications process is much easier and much less intrusive than a typical bank loan. The funding process has been streamlined to that you get funded in just a few days instead of weeks. If you need money quickly; this is your best option. They do not require collateral of any kind. There are no restrictions on how you spend your money. You are free to spend as you choose.
This type of funding is not right for everyone of for every situation, but it has helped thousands of merchants get the funding they needed to move their business forward. I invite you to use the following link to see if a Business Cash Advance is right for you. There is nothing to lose and so much to gain by being informed.
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