Guaranteed Merchant Cash in Advance is now a Reality for every Business

Note that a Merchant Cash in Advance is not a traditional loan, rather it is a form of receivable funding. This is where a trader is allowed to borrow some funds from lenders and agrees to repay an agreed amount. Typically, the loan is repaid through split batching, a methodology that deducts a percentage of every day credit card sales to offset the loan. The key benefit of this form of lending system is that no monthly bills are included.

Merchant cash advance financing has initiated a new program to offer finances to those merchants that fail eligibility for supporting requirements of a normal merchant cash advance loan. With the new program, monthly statements of your business will be needed to determine your eligibility to attain a loan. At first, the cash received might not be aggressive, but once you finish repaying the loan, you can be given more funds to subsequent advances.

Merchant Cash in Advance is one of the oldest financing sources

Note that Merchant Cash in Advance is one of the oldest financing sources since it has been around for several years.  It is not rare for financial institutions to ask for additional collateral for business owners with bad credit score. Bear in mind that merchant cash advance loan is unsecured in nature whereby you need to sign a personal guarantee. Traditionally, a merchant cash advance is suitable for the restaurant industry. The first merchant system program is exceptional in such a way that blocks any obstacle a business might encounter while being approved for these unsecured finances. The merchant cash advance is very different from a traditional business loan and this is because the underwriting requirements differ a lot.

Difference between a Merchant Cash in Advance and traditional business financing

Financial institutions will always evaluate all your previous activities and your current financial condition to determine if your company qualifies for a loan. On the other hand, the merchant cash advance lender will only concentrate on your previous, past and future credit card sales. Mostly, the target market for these funds is business owners whose business is affected by a bad credit score. The good thing is that a bad credit score is never a determining factor in qualifying for a merchant cash advance. This is the primary difference between a Merchant Cash in Advance and traditional business financing. Also, merchant cash advance lenders do not need lengthy paperwork, and in most cases, you will only need a four months’ worth of statements, a filled application form, and the contact between you and your landlord.

Getting a merchant cash advance loan

Therefore, you will realize that getting a merchant cash advance loan is easier and faster than a traditional bank loan. It will only take less than 48 hours to get a merchant cash advance loan approved and funded, while it will take several months for your bank loan to be approved.

If you think that your business is eligible for a Merchant Cash in Advance loan and you already follow the required guidelines, then it is time to venture into a business project with a rewarding Return on Investment.  The perfect way to make sure the project succeeds is by applying for a merchant cash advance loan.

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