How Do I Know if I Qualify for a Business Cash Advance?
If you are one of the many small business owners who feels that that the merchant
cash advance is right for your business, but you are not sure if you qualify, use the following guide to determine if you are eligible to receive a business cash advance. Monthly Credit Card Processing Most business cash advance providers require that borrowers process at least $3,500 in monthly credit card sales. Repayments are automatically deducted from the borrowers daily credit card sales and providers want to be sure that the business cash advance will help the business, not hurt it. Providers strive to make repayments virtually unfelt, as they fluctuate along with the businesss sales. Bankruptcies As mentioned above, business cash advances are repaid via a small percentage that is automatically deducted from the business owners daily credit card sales. Providers do not require borrowers to make fixed monthly payments. For this reasons, providers must ensure that a business will continue operating in a particular location until the advance is repaid. Therefore, in order to be eligible for a business cash advance, it is required that the applicants business has at least one year remaining on the lease. Length of Ownership To qualify for a business cash advance, a merchant must have owned his/her business for at least six months. Business cash advance providers usually look at the last four months of an applicants credit card processing history, to make sure that the business processes a minimum of $3,500 in monthly credit card sales. Small business owners that have not owned their businesses for at least six months cannot prove that their businesses process steady credit card sales. If youve discovered that you do qualify for a business cash advance, get a
free online quote today! If you still have questions about whether you are eligible for a business cash advance, click
here for more information.
How Do I Know if I Qualify for a Business Cash Advance?
By: Chrystal King
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