A financial loan is not the only option that you might have while in dire need of funds for your business. There can be other better choices with much bigger advantages – merchant cash advance is one of those. And what all advantages does the same have? Let’s find out.
In the financing process of merchant cash advance, a lump sum of capital is provided by a cash advance lender in exchange for a certain amount of the business’ credit card sales in the days to come. The ones opting for this method of financing often make benefits, thanks to the advantages it has over other options.
The main advantages of merchant cash advance financing:
- The process of applying for it is easy
While applying for a merchant cash advance, the process is quite easy and fast. It often offers options to fill an online application form, with specific information and documentation related to the business applied for. The cash providers generally respond within 48 hours.
- Quick access to fund
Once the application is approved by the provider, the funding can be received in a maximum of a week’s time. Receiving the capital so fast can enable the owner to plough it back into the business flow and improve further.
- Credit score is not affected
Securing financial help through merchant cash advance doesn’t affect the credit score in any way. That’s because no loans are taken, but the business owner is selling out future credit card sales. There is no compulsion of monthly payments. In fact, the newfound funds from a merchant cash advance can improve your credit if you use it to pay off debt.
- Eases out financial stress
Starting up a business is extremely stressful – for the time it takes, financial woes and thousands of other involvements. Running a company can be stressful if running finance doesn’t persist. Merchant cash advances ease out the panic of being a business owner thereby making you focus on your business properly.
Every business needs capital to grow and sustain. For most of the small and mid-sized companies, bank loans are not feasible. If your business is choking under financial stresses, applying for merchant cash advances might be the right choice. Contact them on fundingsourcecapital.com or fill up the online form to get your queries answered within 48 hours.