Fast Merchant Loans for Small Business
If you have a small business and have been trying to raise capital you have most likely found out that we are currently in a difficult lending market. Most lenders are being especially tight with their money. Without perfect credit and plenty of collateral it may not be possible to qualify for a small business loan. If this is your current situation, a merchant cash advance may be a great alternative.
A merchant cash advance is a short term loan based on your monthly credit card receipts. The amounts vary from small loans, $5000, to large loans, up to $1 million, and are based on the amount of credit cards your company process each month. The loan is then paid back monthly directly out of your credit card receipts. It can usually be renewed at the end of the original term.
Even businesses with marginal credit can usually get a merchant cash advance. The loan is based on credit card revenue history making credit much less important. The application process is simple and quick and does not require tax returns be included. This type of loan also offers maximum flexibility and can be used for anything from business expansion to covering everyday expenses.
Even high risk industries usually qualify for a merchant cash advance, including restaurants. The only requirements are that a business accept credit cards and has been in business for a year or more. There are even merchant account loans available now that do not require you to switch you credit card processor.
If you have had trouble raising needed capital, consider exploring a merchant cash advance. They are generally more affordable than simple using credit cards for purchases, and they offer flexible payback schedules based on your monthly credit card revenues. A merchant cash advance may be the perfect solution to your money needs.
