Business Cash AdvanceWhat exactly is a Business Cash Advance?
A business cash advance is also known as a merchant cash advance. This type of advance allows you to obtain cash in exchange for the purchase of a small portion of your future credit card receipts. Often the payments are made directly from your credit card merchant account as a percentage of each credit card transaction your business makes; hence, the amount due on the loan can be quickly and easily paid back.
A business cash advance is the perfect choice if traditional bank loans are not an option. Once you are approved, your business cash advance will be deposited into your account giving you immediate access to the funds you need.
If you are a small business in need of funds to grow your company, but may not qualify for, or have been denied a small business loan or a conventional bank loan, a business cash advance can be just the perfect match for you. The approval process happens in only one day and then, once approved, funds are whisked immediately into your account. In exchange for a small portion of future credit card sales, you receive business cash up-front.
Necessary Qualifications to Apply for a Business Cash Advance:
• Accept credit cards as a form of payment
• Process from $2,500 to $4,000 per month
• Have been operating your business at least one year
Don't let bad credit, or little or no credit stop you from applying for a business cash advance to get those funds you need to grow your business. Getting your business cash advance is quick and easy and does not require collateral.
The funds from a business cash advance are not a loan. In fact, a business cash advance is exactly that- an advance against your credit card merchant account receipts. It is re-paid through the merchant account itself. Moreover, a business cash advance can be helpful with establishing a positive credit history and good payment history. If you haven’t established a credit history or if you have a questionable credit history, paying responsibly on a business cash advance will help you to build or strengthen your credit history. Finally, you can generally expect faster approval times with a business cash advance than with loans that require collateral.