3 Benefits Of A Merchant Cash Advance

1: Credit History Is Much Less Important.
In a traditional bank loan, the first thing a lender looks at is your credit score, which is determined by your credit history. A negative credit history lowers your credit score and makes it more expensive, and nearly impossible for you to borrow. A limited credit history has the same effect. A new business, or one that has never needed financing, will have little or no credit history, making it more difficult to borrow.
With a merchant cash advance, the Merchant Services company often will deal with businesses with only a 90-day history of business sales. The Merchant Services company already knows the general risks associated with collecting on major credit cards and bank account deposits, so 3 months credit card and bank statements are all that is needed to qualify for the advance.
2: Much Less Security Is Required.
Banks want potential borrowers to have what they call the "5 C's": Capacity to repay, good Credit, good loan Condition, Capital in the business, and Collateral. Often, for the new business owner or credit challenged borrower, more collateral or security is required to offset the risk to the lender.
With a Merchant Cash Advance, your credit card receivables and bank receivables are the security the Merchant Services company needs.
3: Risk Is Less For The Business Owner.
With a traditional bank loan, you and the lender share the risk. If you cannot repay, the lender takes whatever you have put up as collateral, then takes legal action to force you to pay the balance. In either case, your credit rating is impacted in a negative manner.

With Merchant Cash Advances, the Merchant Services company that advances you the money takes the risk. Working Capital is advanced to you and the company then collects from credit card sales and/or bank deposits due you. Your business sales are you security.

These reasons help explain why we can advance your business up to $1,000,000 in 5-7 days, with only an application and 3 months credit card and bank statements. If you don't take credit card payments, then we will need  6 months bank statements. Once we have this information, we will have an answer on how much we can offer your business within 24-48 hours, and the money wired to your account (to use however you want) in 5-7 days. Click below to get a Free-No Obligation Quote on how much cash you can get for your business!

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