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Is Merchant Cash Advance Solution for Your Business?

Category: Paydayloan Published: Saturday, 22 February 2020 Written by Taylor McGuinnan
merchant payday loan

Many businesses run out of cash at some point. If you own a business, you should remember that there comes a time when you need money to help keep your company afloat or to expand it. In such times, merchant cash advance comes in handy.

A merchant cash advance lets you borrow against future earnings so you can access that money that you really need. Compared to other types of funding for businesses, merchant cash advance is typically awarded to the applicant within a very short period making it a rescuer for a business, which is seriously in need of urgent or fast access to funding.  

Merchant cash advance offers a quick method of funding businesses because you are literally borrowing money against your business’ future earnings. Actually, lenders don’t need collateral for the MCA to be awarded as is in the case with other types of loans given to businesses.

Are merchant cash advances accessible to startups?

A merchant cash advance is one of the options for startup businesses that might need quick cash but are not yet qualified for other common types of funding. Given that CMAs are usually repaid based on the daily sales of the business and a range of other factors such as time in business, startups can easily apply and get these loans.


Advantages of merchant cash advance

Of course, merchant cash advance should be the last financial option. However, they come with their advantages, which actually make them provide quick and easy solutions to the financial problems that your business maybe facing:

  • They are quick

If your business is in need some capital now, you can opt for merchant cash advance as it could actually be the best solution for that business. Merchant cash advances can be accesses within 24 hours or in less than a week and there is no much paperwork required. The daily credit receipts are what are looked into in determining whether you have the ability to pay back the loan. These loans can save you and your business a great deal in the time of need when you are not able to access funding from other alternative sources.

  • It will not lead to loss of your business or company

Merchant cash advances not even secured. For that reason, applicants don’t need any security. What this means is that there is no need for you to forfeit any business or personal assets if your sales plunge and you are not in a position to pay. Actually, if your small business unfortunately collapses before repaying, you will not lose your home or property for not being able to pay the loan.  

  • Your payment could be down also if your business’ sales are down

The repayment schedule is often based on the fixed percentage of your sales. This means that if the sales of your business are low, the repayments of the loan adjust automatically depending on the amount of sales of the business. Simply put, repayments are typically scheduled based on how well or bad your business is doing.


Merchant Cash Advance Providers

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