Obtaining the finances you require as an entrepreneur is not always a simple process, especially if you do not qualify for traditional financing or loan options. When you are in need of a lump sum of cash, consider a merchant advance to keep your business afloat without going into debt or experiencing a financial crisis.

What is a Merchant Advance?

A merchant advance is a lump sum of cash given to business owners or individuals who are in need of additional financing to help their companies through trying times. With a merchant advance, receive the cash you need to maintain your business and keep it running in working order. Merchant advances are much easier to obtain than traditional financing alternatives even if you do not have a positive credit score to your name.

Merchant advances rely on current business income streams and account receivables to verify your ability to pay back what you qualify for with the advance itself. Once you have been approved for a cash advance as a merchant, you then begin paying the loan back with a set percentage of your daily sales or credit card transactions. When you generate a steady stream of revenue, pay the money you owe back without feeling stressed and overwhelmed.

Who Can Use a Merchant Cash Advance Service?

Whether you are launching a startup for the first time, need to hire employees, or if you have simply had a bad month in regards to income, merchant cash advances are widely available to all business owners. A merchant cash advance service works with clients individually to determine your needs and the amount of money you qualify for based on your current and past sales records. By providing an in-depth report of your credit card sales and overall income, expedite the approval process to get the cash you need in hand in less time.

Benefits of Applying for a Merchant Advance

One of the biggest benefits of applying for a merchant advance is the ability to do so without the risk of losing your home, personal property, or even your business if you are unable to pay the money you receive back. Merchant advances are non-recourse loans, providing you with maximum monetary freedom and flexibility without all of the risks that are commonly associated with traditional business loans and lending firms.

How Much Money Can I Request?

A great reason to work with a merchant cash advance service is the ability to request a large amount of capital depending on your current credit card sales and future predictions. Merchant cash advance services provide individuals with the ability to request anywhere from 50% to more than 250% of projected future sales depending on your past predictions and overall annual revenue.

How Long Does a Merchant Advance Take?

Applying for a merchant advance is much easier than going through the process of receiving a traditional business loan. Without a lengthy application process and extensive paperwork, receive the cash you need within 24-48 hours depending on your approval.

Understanding how a merchant cash advance works and how to get one for your business is a great way for you to maintain cash flow without losing out on potential opportunities for growth. Working together with a merchant cash advance service that sees you as a business partner is ideal when you are seeking financial security and want to keep expanding your venture without the risk of losing it altogether.