A merchant cash advance is a fantastic financing option for budding companies who are looking to grow and progress. This type of financing is simple because it minimizes any risk you take. You’ll only have to pay a portion of the credit card transactions that take place in the future if you take out this type of financing.
Business cash is important when opportunity calls. Perhaps you don’t have the credit or collateral necessary to get traditional business financing. However, you may have regular credit card transactions coming in that are providing your company with a steady and reliable cash flow. In this case, a merchant cash advance is perfect for you.
Flexibility regarding the amount your borrow
Your needs in terms of how much funds are necessary for your project could vary widely depending on your exact business. When it comes to merchant cash advance funding, you can get financing amounts that range from $2,500 to $250,000. This wide range of amounts is perfect and offers great versatility when it comes to financing diverse business projects.
Merchant cash advance providers are typically accustomed to dealing with companies operating in a wide range of industries. As such, the amounts that are necessary vary widely depending on what types of equipment are necessary.
Ease of repayment
You don’t have to put any effort into repayment with merchant cash advances. These payments are automatically deducted from your credit card transactions. That’s great news for you because you don’t have to worry about forgetting about a payment or overlooking an amount while budgeting.
Payments on merchant cash advances are typically made based on an agreed-upon percentage of your credit card transactions. That means that you won’t have to pay as much over a given period if your sales go down for whatever reason.
Speed of the process
When you apply for a merchant cash advance, you’ll know right away whether or not you’re approved. That’s great because those who need financing often need to know quickly whether or not funds will be available. If you’ve got an important upcoming business investment, you need to know how you’ll fund it right away so that you can plan for the future and get to work.
The merchant cash advance process is always fast and convenient.
Versatility of this financing type
Providers of merchant cash advances are usually very flexible in terms of what you’re using the funding they provide for.
What type of investment do you need to make? Do you need to invest in more employees because you have a labor shortage? Is there more equipment that’s necessary to keep your company as productive and profitable as possible? Perhaps you need funding because you’d like to be able to form a valuable partnership. Whatever your demands, you can meet them with a merchant cash advance that will provide you with instant capital for whatever you need to pay for.