Is your business in need of some extra cash to get through a tough spot? If so, you may be wondering how you can get your hands on the necessary funding. While there are a number of different options available to small business owners, one of the best business funding solutions is to apply for a merchant cash advance. Here’s why this type of financing could be the perfect choice for your business.
What is a Merchant Cash Advance?
A merchant cash advance is a short-term loan for your business offering a lump sum cash amount up front and the loan is automatically repaid to the merchant in smaller portions from your future sales.
When you take out a merchant cash advance, the rate is determined by your ability to repay. The amount of this loan will depend on what’s agreed upon between yourself and the merchants’ finance department. It can range anywhere from 1.2 up to 1.5 rate factor. For example, an advance of $10k with a factor rate of 1.5 would calculate a total repayment of $15k. This includes $5K in fees.
At Merchant Capital Direct, we are one of the few merchant cash advance companies that will work with your business for the best funding terms. We pride ourselves on offering affordable and flexible rates. Our goal is to help you grow by expanding your capital and thus get paid as you get paid.
Is a Merchant Cash Advance good for my business?
The top reason our cash advance services are ideal for small businesses is that we do not require a credit check, personal guarantee, or collateral from the authorized owner. Furthermore, we can provide funding much faster than traditional lending institutions.
What criteria are we looking for? If you have operated your business for more than 9 months and processed over $5,000 per month in Visa/MasterCard transactions, then your business is eligible for our financing!
We understand that it requires cash flow in the business to generate more revenue. With our funding solutions, your business can secure small business working capital funding based on your future sales. Use the cash advance to invest in:
- Paying employees
- Equipment Purchases
- Pay Back Bills
- And more
How to Get a Merchant Cash Advance?
Securing a cash advance based on your future sales is easy with Merchant Capital Direct. As mentioned, we examine your past track record with your current debit/credit card sales. Therefore, if you have been in business for more than nine months and processed at least $5k in sales then you can secure a working capital loan with us.
What is the rate of our merchant cash advance? The rate that must be paid back is determined during the risk assessment process of your application. Our helpful staff will inform you of the rate shortly after applying for the cash advance.
Merchant cash advances from Merchant Capital Direct can be an excellent solution for business owners who need access to capital quickly. We do not require a credit check, personal guarantee, or collateral from the authorized owner. This means that you can get the money you need to keep your business running without having to put your assets at risk. Furthermore, we can provide funding much faster than traditional lending institutions.
If you are interested in learning more about our cash advances, please apply with us today. We would be happy to discuss your options and help you find the financing you need to grow your business.