Why Business Owners Turn to Cash Advances
Small business owners like you are always looking for funds to further their success. One business loan alternative that a large number of companies are turning to these days is the Merchant Cash Advance. A money advance is receiving a significant amount of money that must be repaid back to the lender.
These loan alternatives are typically based on money that the business expects to earn. Businesses typically must provide information to showcase that they will receive these funds. Why are a growing number of companies turning to this type of merchant cash advance? And how can they benefit you and your business?
Easy Approval Process
When you apply for a merchant cash advance, a specialist takes a look at all of your financial information, decides how much money you can afford, discusses a repayment plan with you, and approves your application. Merchant cash advances, unlike loans, are rarely denied because as they are based on your ability to repay. You don't have to worry about credit problems or other obscure and abstract ideas. Instead, your income flow is the only aspect examined and evaluated for your approval.
Quick Way to Get Money
When your small business needs quick money, a merchant cash advance is probably the quickest way to get it. A typical merchant cash advance takes no more than 12-24 hours to approve. Even better, you get your money immediately after your application is approved. While the available amount will vary depending on your ability to pay, you should be able to get a decent amount of money quickly.
Efficient and Transparent Repayment Plans
Many traditional loan repayment plans are difficult to understand or arranged in a way that makes them confusing. That's not the case with merchant cash advances. A compensation plan is discussed with you right away and laid out transparently.
Availability of Funds
Another major benefit of merchant cash advances is that they can be easily adjusted to suit your personal needs. For example, you can get a small sum to pay for a few necessary items in your office. However, you can also apply for a larger sum to fund a significant extension of your business. The availability of money is only limited by your ability to pay, not by any bias on the part of the lender.
Interested in a Merchant Cash Advance?
If a merchant cash advance sounds like something that would beneficial to a small business , don't hesitate to contact Everest Business Funding today. We can provide you with the kind of business loan alternative that works for small business needs.
Our experts are willing to work with you to find a fair and equitable Working Capital amount and to create a payment strategy that works for you. We look forward to working with you and helping you get the Working Capital that your business needs to succeed.