subject: Will Your Business Qualify For A Business Cash Advance [print this page] Most CEO's find that they are in need of working capital for necessary projects related to their company. The issue with ordinary banks is that they seldom move fast, unless you have an existing credit line. Not to mention obtaining credit is exceedingly difficulty in this market. A merchant cash advance gives non established companies a source of funds that are easy to obtain and provide excellent terms.
A Fast Process
Dissimilar to a bank, a company which provides the business cash advance program will give your business an advance, of sorts, based upon your goals and your established history of credit card receipts. Normally, you need to be in business for just three months and have a 3 month statement of credit card receipts that can be confirmed. Your advance is reliant upon these numbers.
Quick Access to Funds
A fast bank loan, assuming you have everything in order when you come through the doorway, will take several weeks. You may not possess that kind of time. A credit card funding agreement typically requires less than a day to approve and just about 7 days for the funds to go into your account. There is no guessing that when swiftness is of the essence the advance makes more sense.
How it works For Your Business?
Credit card funding is when you, the business owner, selling off a small amount of your expected credit card transactions at a discount, to the credit card funding company. A remittance schedule is set as a fraction of your credit card transactions. That is certainly beneficial to any business but especially businesses that have ebbs and flows. If you have a great month you pay off a little more, however if you have a low month, you pay less. This gives you enough cash on hand to pay for other obligations as well.
Businesses need and take advantage of flexibility. The ability to roll with the times and nurture when the moment is correct is just one of the several advantages with business cash advances.
by: Rodney Rabah.
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