Why Your Business Should Use Merchant Cash Advances
If you’re in need of funds for your business, the first thing that you think about might be a loan. Don’t let this be your only choice. There are other options to consider that may be more beneficial to you and your business. One of these alternatives is merchant cash advances. In merchant cash advance financing, you receive a lump sum from a cash advance lender in exchange for future credit card sales. Here are some reasons you should use this form of financing.
You Have Quick Access to Capital
Merchant cash advances allow you to access capital quickly. In fact, once your application is approved, you can receive capital in as little as one week. The ability to attain funds so quickly will help you to put money back into your business and improve your cash flow.
The Application Process Is Simple
When it comes to getting merchant cash advances, the application process is easy. You can fill out the application form online with specific documentation and information. The application may ask for recent credit card processing statements and your Business ID. Once you’ve done this, the provider will usually respond within 48 hours. When it comes to any form of financing, no one wants to deal with a grueling application process.
Your Credit Score Won’t Hurt
Whenever you receive financing, you probably worry about your credit score. When it comes to a merchant cash advance, you don’t have to worry about it negatively affecting your business’ credit. You are not taking out a loan, after all, You are selling your future credit card sales for capital. This means that you don’t have to worry about making monthly payments. Many providers do not even require you to provide your credit score before you qualify.
You Have Peace of Mind
When you need funding, you don’t want to sit around and stress over your finances. To have merchant cash advances as an option can seriously ease your mind and allow you to get your mind off of your financing issues. Every business needs financing help at some point or another.
If you’re a business in need of financing, there are a lot of options available to you. If you want your cash fast and want a way to receive financing without affecting your credit score, then you might want to look into getting a merchant cash advance.