• Rates: Just like a traditional loan, the better your financial and sales history are, the better rate you will be able to negotiate with the providers. View vendors’ rating at Better Business Bureau to see if any complaints have been filed with the Federal Trade Commission. Get references whenever possible. You can also secure great rates by pledging equipment or bank account access as collateral, but you must be very careful with companies that require you to do this option.
• Repayment schedule: Repayment schedule is flexible just like rates, though be wary of daily/monthly minimum fees to your transactions that can add up.
Terms that are not negotiable with providers
• Application fee: Reputable providers won’t ask for it. There is no application fee.
• Existing terms: Unless you are prepared to seriously compromise, once you have signed the contract, you would not be able to negotiate out of terms, schedules, and fees especially. Be prepared to pay if you want to extend the repayment time.
• Merchant requirements: Merchants that accept credit cards are only eligible for merchant cash advance. Companies won’t accept you otherwise because they want a guaranteed automated method of repayment.
We all know how difficult it is to get approvals for a fast business loan to tide over the immediate and long term capital issues that businesses routinely face. Now you don’t have to face the excruciating uncertainly of whether your loan application would be approved or rejected. Merchant cash advance is here. It works better than fast business loans. You can get approved for as much as $250,000 in cash within no time.
Unlike a fast business loan, the advance uses different parameters to judge your eligibility. The funding process is delightfully simple and is not influenced by your credit history, however bad it might be in the present situation. If your business accepts a minimum of $5,000 in credit card sales and you don’t have any open bankruptcies, you are on your way to get a quick and easy qualification. Additionally, there is no cost and no obligation.
You can apply for it if you are in a retail industry, medical service, hospitality sector or restaurant. Merchant cash and capital can be a great way to raise funds to meet the growing capital needs of your flourishing business. There are many benefits of raising cash as compared to fast business loans.
Besides the obvious advantage of having a much higher probability of getting approved, there are other gains such as no collateral, no hidden fees and no obligation to take the cash advance after making your application. Besides, the funds can be used in any way you might deem necessary for the improvement of your business. You can use it for improving inventory position, expansion of your business by opening of a new branch or for the purpose of marketing, paying off taxes improving cash flow and any such reasons.
If you are a business owner with a cash flow problem and in a dilemma as to how to get quick cash advance to meet your business obligations, MCA is the perfect solution. You can get the cash within a few days and not wait for months on together as it often happens with traditional business loans. merchant cash advance