Small businesses are numerous and most of them experience difficulties when sourcing for external funding. Traditional lenders have on many occasions declined their loan applications and this creates a need for a more responsive and reliable lender. The alternative lenders seem to be the answer to this and in the recent past, merchant cash advance providers have become quite popular. An interesting development is the emergence of online business funding being made possible by some of the MCA companies.
If you are a small business sourcing for a reliable and convenient online funding provider, an MCA Company can help you out with this. Merchant cash advances are basically an investment on your future credit earnings as a business. Though they are considered to be the most expensive forms of alternative lending, this model of lending is quite quick to access and their approval rates are high. It is open to the small businesses with a one year experience in business, and having a bad debt history should not deter you from applying for online funding.
The online funding provided means that you have access to cash advances from any location which has an internet connection. Applying for a loan has been designed to be simple and pretty straight forward. Business owners can apply for loans ranging from $10,000 to $1,000,000 and this will be delivered to you in a period of at most three days.
For a small business owner to qualify for a loan, the requirements are few and quite reasonable. You need to be an established business as specified above and you will additionally be required to submit a copy of your financial statement as a business, your past credit sales and an estimation of your future credit sales as a company.
Repayment of the online business funding is based on a fixed percentage of your daily credit sales. The implication of this is that you will remit higher amounts on days with high credit sales while days with low credit sales will leave you with sufficient cash to run your business. This is inarguably sustainable and you can agree for a repayment period which could range from 3 to 12 months.
Merchant cash advance providers should be your go to option when seeking for a quick source of funding for your business. You can check out online sources and make a comparison for MCA providers which offer the best rates. A business owner seeking for an online business funding source is welcome to approach a Merchant Cash Advance company for a convenient and prompt deal.
Online funding is for sure shaping the course of merchant cash advance provision. Access to a loan will just be at the click of a button from any location and the cash will be wired to your account in a matter of days after approval. If you are in dire need of an online business funding option, search for a merchant cash advance company suitable for you.