subject: No Collateral? Need Financing? Try A Business Cash Advance [print this page] When the day comes and your business needs extra funds for something significant, do you know where to turn and how to apply? Many corporations believe that the only place they can attain capital is the financial institutions or friends and family. However, a business cash advance is also an exceptional source of financing. The application procedure is simpler and the turn-around is certainly quicker.
Brokers for the merchant cash advance program have significant differences as far as the application requirements, terms, and cost of the advance. Your industry type, time in business and how much you do in credit cards each month are the main parts in deciding the amount you will qualify for and your remittance terms. Normally, you need to be in business for three or more months and process more than $5,000 monthly.
Applying for these kinds of business cash advances can often be managed primarily online. An easy, one page application is filled out, submitted to your merchant cash advance company and, providing you can fax over any additional documents, you can have your response in as short as 24 hours. The cash are made accessible in about a week.
Some funders may ask you to switch your merchant account processor. Others will let you to set up a lock box, or third party account from which to withdraw the daily payment. Either way the repayment will still be a set percentage of your credit card sales.
Reimbursement terms can be as little as four weeks and can be extended for a few years. Each month a piece of your credit card sales will be captured.
Convenient, effortless and flexible, merchant cash advance professionals can provide precisely what the busy CEO needs to grow their dreams.
by: Rodney Rabah.
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