Business expenses and investments can quickly add up when you are managing a thriving or expanding company. When you are in need of additional capital but you want to steer clear of traditional lending institutions, consider applying for a merchant cash advance.

Overview of Merchant Cash Advances

A merchant cash advance service provides lump sums of money to business owners who are able to prove their income stream and transactions. Merchant cash advance providers work with business owners individually to determine the amount that is available based on annual revenue and estimated sales for a set number of months. Once you are approved for your merchant cash advance, pay back the money you owe using a set percentage of sales or transactions that is agreed upon during the application process.

Merchant cash advances are much different than traditional business loans. With a merchant cash advance, take advantage of a non-recourse loan which eliminates the risk of losing your business, home, or other property you own to your name. Traditional lenders often require individuals to use collateral in the event of not paying a loan back. With a merchant cash advance, receive the cash you need in a lump sum without worrying about potential repercussions.

The Benefits of a Merchant Cash Advance

Using a merchant cash advance is much easier and less arduous than going through the process of applying for a traditional banking loan. With a merchant cash advance, individuals who are approved receive their money anywhere between 24 and 48 hours, allowing you to immediately put the funds to use. Cash advances only require a one-page application and can deliver funds up to $5 million into your account in two days or less.

It is also possible to utilize the funds you receive in any way you see fit for your business. Some of the most common ways to put a merchant cash advance to use to further benefit your business includes:

  • General expenses: Keep up with bills and traditional business expenses you need to pay each month to avoid disruptions or additional financial woes.
  • Investments: Use your merchant cash advance to further your business opportunities with new investments.
  • Equipment: Purchase new equipment and supplies necessary to streamline your business transactions and to keep your company running as smooth as possible.
  • Payroll: Avoid leaving your employees without a paycheck by using your merchant cash advance to keep up on salaries.
  • Staffing: Hire new employees without worrying about overhead costs once you are approved for your cash advance.
  • Liquid funds: Increase the amount of liquid cash you have available with a merchant cash advance.

Who Qualifies for a Merchant Cash Advance?

A great reason to apply for a merchant cash advance is that it is possible to get approved regardless of the size of your business. If you have the ability to prove steady income and account receivables, it is much easier to obtain the cash you need using a merchant cash advance over traditional lenders. Additionally, most banking institutions require individuals to have a credit score that is in excellent standing in order to qualify for large sums of money. With a merchant cash advance, credit is not always required in order to get the approval you seek, which is why the advance is an optimal solution for many.

With a merchant cash advance, eliminate the stress and worry commonly associated with mounting debt and financial struggles as a business owner. Once you have obtained the cash you require it is much easier to move forward with a working plan of action that allows you to remain prosperous and successful.