Monday, February 17, 2014

Business Cash Advance - Top Five Advantages Over Bank Loan Or Line of Credit

Is your business in instant need of cash flow? Is the credit crisis slowing down your business? Is a low credit rating preventing you from giving your business the funds it needs? Are you tired of waiting for weeks to get a loan sanctioned? Do you want to procure cash in a quick, easy and effective manner? Is yes, then merchant cash advance (MCA) is the solution to all these problems.

Merchant cash advance offers small and medium-scale businesses a quick and easy way to procure funds for maintaining inventory, paying bills in a timely manner and for expanding the business. You simply exchange a portion of future business credit receipts for a lump sum of cash. You are charged a fixed percentage, usually 8 percent, of total credit card receipts every month. If the recession-induced poor credit ratings or collateral are preventing your securing commercial bank loans, then merchant cash advance is especially useful for you.

Here are the benefits merchant cash advance has to offer.

1. No Credit or Collateral at Stake

Merchant cash advance is treated as a purchase or a sales transaction and not a loan. Thus, it does not affect your business credit rating, unlike commercial bank loans that can wreak havoc with your credit report. This also removes the risk of losing collateral, making merchant cash advance an extremely safe funding option for your business.

2. Easy Application and Disbursement Process

You can retrieve your MCA application form online. The application does not require tax returns, financial statements or business plans as accompanying documents. MCA providers simply rely on two criteria, monthly credit card returns and number of years in business, to evaluate your suitability for merchant cash advance and your cash amount. Typically, you must have monthly credit card sales of over $5000 and a minimum of nine months in business to be applicable for MCA funding.

3. Fast Turnaround

Since business cash advance requires little paperwork, the application turnaround time is very small and you will be able to see your funds within a week of submitting the application. Unlike traditional loans, you do not need to wait for weeks for months to pay your bills or seize business opportunities.

4. High Approval Rate

MCA providers value your business performance over credit. This allows any stable business to procure funds without hassles. Your monthly revenues will determine your MCA funding amount.

5. Revenue-Based Collections

Unlike traditional bank loans with fixed monthly payments, merchant cash advance links repayments directly with your business performance. You must pay a fixed percentage of your monthly sales. When you business is booming you will pay more. When your business slackens, you are charged smaller sums. Thus, at no time does MCA impose a huge financial liability on your business, draining all is funds.

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