Companies Operating For Less Than 4 Months Can Qualify For A Merchant Cash Advance
Many CEO's find they are in need of working capital for necessary tasks linked to their business
. The issue with conventional lenders is that they seldom move fast, unless you have a prior credit line. In addition, getting credit is exceedingly hard in this economy. A merchant cash advance provides non established businesses a source of cash flow that are easy to qualify for and provide great provisions.
A Quick Process
Unlike a bank, a company which provides the business cash advance program will offer your company an advance, of sorts, dependent upon your wants and your past history of credit card receipts. Usually, you will need to be open for at least three months and have a three month statement of credit card receipts that can be verified. Your advance is based upon these figures.
Fast Access to Money
A speedy bank loan, if you have all your paperwork together when you walk in the doorway, will take many weeks. You may not have that kind of time. A credit card funding agreement typically requires a day to process and just near 7 days for the capital to go into your business account. There is no question that when speed is important the advance is more logical.
How it works For Your Business?
Credit card funding is when you, the business owner, selling off a portion of your expected credit card sales at a discount, to the credit card funding company. A remittance schedule is set as a portion of your credit card sales. That is mostly advantageous to any business but especially companies that experiences ebbs and flows. If you have a strong month you pay back a bit more, however if you have a slow month, you pay less. This provides you enough cash on hand to pay for other bills as well.
Business owners desire and appreciate flexibility. The ability to roll with the times and grow when the time is right is just one of the many benefits with merchant cash advances.
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