How Merchant Cash Advance Can Help Your Business
Financial issues that arise at the beginning can be the most daunting aspect when starting a business. Ill-timed and bad financial decisions may cause the business to fail. Very often, aspiring business owners are reluctant to move forward because they don’t have the financial resources and this leads to missed opportunities.
Finance Options
Financial issues should not stand in the way of your entrepreneurial ambitions. You have several options for financing to choose from. There will definitely be a number of options that will be pertinent to your needs.
Merchant Cash Advance
A lot of businesses resort to merchant cash advance, particularly at the start. They enjoy several advantages inherent to merchant cash advance and resolve several financial issues.
Understanding Merchant Cash Advance
A financial firm will extend merchant cash advance to the business by giving an upfront amount in cash in return for a fixed percentage of the business’s future sales revenue, in particular, revenue from credit card sales. Keep in mind that the merchant cash advance is not a type of loan. There are no interest rates involved nor is there any monthly payment plan. In this regard, it is a very flexible and highly favorable financial arrangement.
The financial firm that extends the merchant cash advance will regain its amount via the fixed percentage of sales that was agreed upon.
Why Merchant Cash Advance is Suitable
There are a number of factors that can lead to a need for merchant cash advance.
Merchant cash advance can be approved very quickly which is the reason why so many business owners have a preference for this type of finance. When you apply for a merchant cash advance you can get approval within just a few hours.
This is in stark contrast to the dreaded bank loan that can take several weeks. The truly lamentable part is that you get the loan after a long delay – if you get approved in the first place. When you need a loan urgently, a delay can lead to many problems. But the bank will carry on at their slow pace calmly. Quite sadly, they don’t have your best interest at heart.
There is also a minimum of fuss and paperwork involved. Unlike a bank loan, you will not be subjected to intense scrutiny and an arduous application ordeal only to have your request rejected.
Since merchant cash advance is not a loan, you don’t need to have a good credit score to qualify for one. Poor credit score has unfortunately become a major stumbling block for small businesses even though they are not to blame for adverse economic conditions that tarnished their scores. You won’t have to worry now about poor credit rating.
Merchant cash advance will likely continue to increase in popularity with small business owners due to all of these advantages.
Contact us today for a free consultation.
3702 Pratt Avenue Bronx NY 10466
(347) 755-2257
info@klbbusinessfunding.com
