At one time or another just about every business needs a short-term infusion of cash.
And if you have dealt with banks lately, you already know how hard it can be to get a quick approval for even a small business line of credit or loan.
So what are you alternatives?
Well, if you accept credit cards you already have an asset that you can leverage for working capital. And that asset is your credit card processing receipts.
Merchant Cash Advances
How does a merchant cash advance work?
Typically, you will complete a short application. The key questions a merchant account provider will use to evaluate how how much money you can receive are:
- How long you have processed credit cards (typically 6+ months are required)?
- What is your processing volume (how much you process each month)?
- How do you process transaction (face to face is preferred)?
Depending on your responses you may receive up to $500,000 in working capital for your business against your future Visa/MasterCard credit card receipts.
And unlike most bank loans, some providers have up to a 90% approval rate, with funds typically available within four days or less.
Gone are months of submitting paperwork to your local bank, only to get a rejection.
Are there any strings attached?
Most merchant account cash advance companies will require you to switch your merchant account over to them. This way they can get repaid for the cash advance by taking a small percentage of your future credit card sales as a form of repayment.
In short, a cash advance is right for you if you need:
- Funds typically available in 7 days or less (Small business loans can take months)
- Quick turnaround time
- Up to $500,000 in working capital for your business
- An easy way to repay the advance (from existing credit card sales)
- No extensive paperwork
- No income verification required
- No fixed monthly payments to worry about
What if you have a slow month in credit card sales?
Most cash advance companies simply slow down the rate of payback.
Merchant Business Alliance has a simplified application process, along with flexible repayment terms. Click the link for company details and to request a quote…
It’s important to remember that the funds from the business cash advance program is not a loan. It is an advance against Visa and MasterCard merchant account receipts. It is repaid through your Merchant Business Account itself.
Request a Cash Advance Today
To get started, simply…
Click the link to request a
merchant account cash advance >>>
If you have any credit issues or require a merchant account for a high risk business, you can find the right links under “Merchant Services” for the account type that best describes your situation.
And if you have any questions or comments please feel free share your thoughts with us.
From time to time every business runs into a need for quick cash.
