Access Short-Term Financing Quickly With a Merchant Cash Advance
Most entrepreneurs don’t realize business loans are typically built for long-term purchase financing, and when they aren’t, the interest rates reflect the risks associated with short-term unsecured financing. It’s not something most people learn until they have to try to get short-term working capital for a new business, and it’s why asset financing can be so powerful. If your business does a lot of transactions via credit card, your merchant account can be the ideal asset to finance.
Merchant Cash Advance Basics
The MCA is an advance against your merchant account, and during repayment, your payment flexes with your volume of business because you agree to pay a percentage of your credit receipts until the balance is paid down. The benefit to this is that if your business slows, your minimum payment shrinks, and if you make a big windfall, you pay down the whole advance quickly. The best part? Decisions are made quickly, and most people have cash in hand within five days.
More Benefits of MCAs
Looking for more reasons to opt for this product when you need financing?
- Reusable, refinance whenever you need funds quickly
- Stock up on inventory to make big profits during periods of seasonal demand
- Get working capital whenever you need it
- No loss of equity in your business
- No restrictions on how you use your cash
Contact Hopp Commercial Funding today to start an application for financing.