How does Merchant Cash Advance work?
This financial tool was designed for small businesses that have difficulties obtaining money and fulfilling the requirements of an institution. In comparison with traditional loans given by financial institutions, Merchant Cash Advance focuses on giving money to businesses in order to receive money from future purchases by their clients. Credit scores are not taken into account as a requirement for this service. After the approval, you’ll receive the fund via a direct deposit to your account. The percentage of the purchases that are used to pay will be determined by the necessities of each business. It’s a common and much faster alternative perfect for local businesses.
Benefits of Merchant Cash Advance
One of the main advantages of Merchant Cash Advance is that there are fewer requirements if we compare them to traditional loan solutions. Other benefits include:
- Faster money acquisition: The clock is always ticking. Time becomes an important factor when companies are in crisis, so requesting the money in advance will give you the chance to get the money you need quicker than with traditional solutions. The clock won’t be against you.
- A good credit record is not always necessary: When people are trying to obtain regular financing solutions, the most important factor banks take into account is a business’s credit record. When looking for Merchant Cash Advance, the key requirement is to have a certain amount of sales per month so the institution ensures they can get the money back.
- The payment amount is not set: A Merchant Cash Advance is not a loan, which means that monthly payments are not defined. You accept the money in exchange for a percentage of your future sales.
Reasons why you should apply for a MCA
A Merchant Cash Advance is a strategic solution that small businesses that are in need of cash flow can implement in their finances. The money received can be used to cover any business necessity, while bank loans often have restrictions that limit where the money can go. Using the Merchant Cash Advance gives you the freedom to use it the way you need it. Monthly payments are not settled and you pay according to your sales.
Why Choose Us?
We understand that opportunities have an expiration date. Backed up by years of experience, at Business Funding New York we understand that traditional loans are not always for everyone, but we can guide you to reach some other alternative solutions for your business. We are here to support you and give assistance to any company with six months of operational time and any credit score. Our experts will give you a hand during this period of financial crisis. For more information on our services, visit our website or give us a call at 1 877 969 4569.