2010 July ~ Find Merchant Account Providers

Merchant Account Cash Advance or Bank Loan?

From time to time every business needs some extra cash flow, whether you need it to fund a new project or planned expansion.

And if you already accept credit cards, it may be easier to get the funding you need by using a merchant cash advance.

So how do cash advances differ from bank loans?

Let’s take a look at how you can distinguish between the two to help you determine which one is right for your business.

Cash Advance vs. Bank Loan

The chart below outlines 10 key points of differentiation between a business cash advance and a traditional business loan.

Merchant Cash Advance

No fixed repayment period – based on a percentage of future credit card sales
No interest rate
No fixed monthly payment
High approval rates for qualified businesses
Typically require 60 days of processing credit cards
Quick decisions – 24 to 48 hours typical
Fast funding – typically up to 7 days
No extensive paperwork
No true personal guarantee
Requires credit score > 500

Bank Loans

Fixed repayment schedule
Interest rates
Fixed monthly payments
Low approval rates (especially today)
Typically want 2 to 3 years of operating history
Decisions can take weeks
Funding can take weeks to 1 month
Often requires tax records, collateral & detailed business plan
Collateral & personal guarantee required
Often requires credit score > 650

Is a cash advance right for you?

Only you can decide.

The important thing to consider is that with a cash advance you have repayment options and flexibility, since the amount you repay is based on your future credit card sales.

To explore your funding options, the next step is…

Choosing a Merchant Cash Advance Provider

Would you like to get matched to qualified providers today?

To request a merchant cash advance quote, simply follow the link and fill out the short form and we will contact qualified merchant cash advance providers for you.

Comments? Questions? Other merchant account issue you’d like to share?

We do value your opinion, and would like to hear from you. Kindly leave a comment for us and we’ll respond as soon as possible.

Do You Need to Get a Merchant Account?

If you need to get a merchant account, there are a number of factors to consider before as you check out merchant account providers.

And whether you are getting started for the first time, or you are simply looking for a better deal, there are some questions and issues to investigate.

For example…

Five Key Merchant Account Questions

How will you accept credit cards (online? face to face?)
Do you have any credit issues?
What industry or type of business do you have?
What type of equipment do you use?
Are you a home-based business?

Believe it or not, these are just a handful of issues that can affect your overall merchant account.

And depending on how you answer the questions listed above will help determine:

Whether your account gets approved
What your merchant account rates might be
Your monthly processing limits
And more…

Additionally, as I’ve said a number of times, not all merchant account providers are the same.

Some specialize in high risk merchant accounts.

Some providers only work with high volume accounts, or those with bad credit.

And some providers specialize in POS systems, or offer free credit card terminals.

The list goes on.

As you can see, there’s more to accepting credit cards than going to your local bank.

In fact, most bank use third party merchant account providers and simply refer customers to them for a share of the revenue.

Finally, the last issue to consider is…

Choosing a Merchant Account Provider

If you need to set up a new merchant account, there are a couple of ways for you to get started.

You can click on the link below to get free rate quotes from qualified providers, saving you time and aggravation:

CLICK the link and compare free
merchant account quotes today >>>

After receiving rate quotes you can use the list of questions above to interview the providers that contact you.

Then compare for yourself to get the best merchant account.

And if you have any credit issues then you will need a quote from a bad credit merchant account provider. You can request a quote by clicking on the link.

And if your business is considered “high risk” than you will likewise need to work with a specialist.

To get free rates quotes from high risk merchant account providers simply click on the link to get started.

The choice is yours…

Comments? Questions?

Other merchant account issue you’d like to share? We value your opinion, and would like to hear from you.

Kindly leave a comment or question for us and we will respond to you as soon as possible.

Merchant Account Cash Advance or Bank Loan?

Cash Advance vs. Bank Loan

Merchant Cash Advance

Bank Loans

Choosing a Merchant Cash Advance Provider

Do You Need to Get a Merchant Account?

Five Key Merchant Account Questions

Choosing a Merchant Account Provider

Get the Best Merchant Account

Merchant Services

Merchant Account Topics

Sponsors

Merchant Account Providers

High Risk Merchant Account Providers

Policies