Business & Merchant Advances
What Is It?
A Merchant Cash Advance (also known as a Business Advance) enables a business to use future sales to get financing. This is not a loan. It’s an advance based on expected future revenues of sales of a business.
How Does it Work?
The business is given an advance, a lump sum payment. In return, the business pays a fixed percentage of future credit/debit card sales or equal daily payments until it is paid off. They average time frame for repayment is between 6 and 12 months.
What Are the Advantages?
- No Collateral needed
- Fast Financing approved with 24 to 48 hours compared to conventional banking
- Funds can be used for what use.
- Advances are non-credit reporting which can greatly expand access to credit.
- Payments are made automatically as credit/debit card payments or daily/weekly payments. made.
- No down payments or Administration charges.
- Funding is considered an expanse rather then a liability on the balance sheet so cost of funding can be ridden.
You Need Cashflow
- Can’t Sleep At Night?
- Don’t have enough cashflow
- Haven’t been in business long enough
- No collateral
- Poor credit history
- Your bank isn’t moving fast enough?
Don’t Wait, Get The Cash You Need!