The problem with bank loans is that they take forever to process. In many cases, by the times it takes to actually get the money, you have either missed out on a great opportunity or you have gone bankrupt. This may be a slight exaggeration, but it does happen.
There are many things in business that are beyond our control. Wouldn't it be great if we had instant access to working capital right when we needed it? With a merchant cash advance, you can have money transferred into your account within 24 hours. Of course you would have to establish a relationship with a provider to get money that quickly, but doing that is relatively simple.
It generally takes anywhere from 3 to 7 days to get a cash advance the first time, but once that relationship is established... BOOM, you get money as quickly as you need it. Just keep in mind that you do have to pay it back.
Merchant loans are particularly useful if you're having a hard time getting funded because of credit issues. You can have a credit score of 450 and still qualify for a cash advance. As long as you're up to date with your lease or mortgage and don't have any outstanding tax liens; you're good to go. Of course there are several factors involved in determining your eligibility, but your chances of getting approved a much higher than with a traditional bank loan.
So, a merchant cash advance is much faster, has a higher approval rate what else? Did I mention that you don't need collateral? Unlike most business loan ; you no longer need to risk your personal property. This is very good news in these uncertain times.
There are many advantages I haven't even mentioned yet. Use the following link to learn more about a merchant cash advance and to see if they are right for you.
0 comments:
Post a Comment