also referred to as Business Cash Advance offers small businesses quick access to merchant capital to fund their business needs. Merchant cash advances offer businesses a lump sum payment in exchange for a share of future credit card sales. Merchants including retailers, restaurants and service companies that have monthly credit card sales volume of at least $5,000 can obtain a small business cash advance within 24-48 hours without any guarantees, liens, or collateral required.
Merchant advance is gaining in popularity as the payments to the merchant cash advance companies fluctuate directly with the merchant’s sales volumes, giving the merchant greater flexibility with which to manage your cash flow. Additionally, the ease, simplicity and speed of the application process associated with merchant cash advances are significant advantages. Submit your merchant cash advance requirements below and get quick and easy access to merchant financing or small business loans from qualified merchant cash advance companies.
The current economic crisis has seen merchant cash advance for small business emerge as a new merhcant funding source, taking the small business industry by storm. Merchant cash advance, also called business cash advance or simply a merchant advance or merchant capital is a fast, reliable and low-risk financing source that provides a small business the capital to maintain cash flows or for business expansion. It is like a line of credit, but better! Merchant cash advance companies recover the merchant loans by taking a percentage of the future credit card sales receivables.
Merchant cash advance is more business-friendly than a line of credit or merchant loans and grants. Government grants and merchant loans for small business have long approval cycle times and a strict verification process that works against the merchant funding needs. Weekly cash flows are the lifeline of every small business. However, the credit squeeze during this great recession is making it very difficult for small business to keep the lights on. Business cash advance provides an instant boost to get a small business back on its feet.
There are many advantages to taking a merchant cash advance:
Faster processing time
The time span between the start of the application and disbursement of merchant cash advance is very short. Merchant cash advance companies consider the months you have been in business and the average monthly credit card sales of your small business while determining your eligibility. If you have been in business for over 1 year and have atleast a 6 month history of credit card sales your small business can be approved within 24 hours.
Simple application
Applying for a merchant cash advance is easy. Unlike government grants, lines of credit and loans for small business, merchant cash advance companies do not ask for income tax returns, asset documentations, financial statements or a business plan. There is minimal paperwork required as the only verification a business cash advance company needs from a small business is the length of time it has been in business and the average monthly credit card sales. Many merchant cash advance companies will also waive the application fees and closing costs. The merchant advance for small business application can be completed and submitted within minutes. Some companies even have an online system for submitting the application.
Unconditional use of funds
Merchant advance lenders do not impose any conditions on the use of the cash advance for small business. Small businesses can use the merchant capital for cashing in on a business expansion opportunity, paying bills, personal expenses, or any other purpose. This is unlike merchant loans or lines of credit that have stipulations attached to them.
Fast and easy approval
It is not easy for small and mid-sized businesses to get approval for government grants and loans for small business because financial institutions and banks give a lot of importance to credit scores. Merchant cash advance companies make it easy on the small business owner by focusing on the business' performance rather than its credit history. The amount approved for merchant funding is typically based on the volume of monthly credit card sales of the small business.
No collateral required
Merchant advance providers do not need to secure any collateral from small business owners for the loan. Therefore, small business owners do not have to risk losing their personal assets if the small business goes under. Business cash advance is an up-front payment for a percentage of the small business' future credit card sales revenue. The success or failure of this deal does not affect the credit rating of small business.
Timely repayments
A small business owner agrees to remit a percentage of the credit card sales receipts to the merchant cash advance company by signing a contract. The credit card processing company executes on the contract agreement by deducting the percentage from every future credit card transaction and sending it to the lenders bank account automatically. This ensures that the merchant cash advance lender receives timely payments, while the small business owner is free of tracking payment due dates, signing monthly checks and other paperwork.
Revenue-based repayments
The payment amounts vary based on the performance of the small business’ credit card sales. The merchant advance lenders will see good returns when the small business is seeing high credit card sales receipts and low returns when the small business is seeing slumping credit card sales. This makes the business cash advance company a true business partner by sharing the risk and rewards of the small business.
Merchant Cash Advance makes it possible for small and mid-sized businesses to keep the lights on during this great recession. The inflexibility, risk and long approval cycles of small business loans and grants is making more and more small businesses turn to such funding for their financing and cash flow needs.
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Merchant Cash Advance Reviews
14th Mar 2011 Merchant Cash Advance | MerchantFinancing.com, SANTA MONICA, CA, 90405, United States
This company is very professional and really helpful. They walked me through the whole process and helped my business grow.
6th Oct 2010 Merchant Cash Advance | Paramount Merchant Funding, LLC, New York, New York, 10001, United States
Merchant cash advance, on the terms offered by Paramount Merchant Funding, seemed too good to be true. I had discussions with a Paramount Merchant Funding executive a few times and went for it. And it was the best thing I did for my business. Repayments were easy and I didn't have to
worry about missing them! And no interest as with loans. Amazing! Paramount Merchant Funding is the best option for a fast merchant cash advance.
21st May 2010 Merchant Cash Advance | Shavit Funding Inc, Coconut Creek, FL, 33073, United States
With Shavit Funding's easy business cash advance, we were able to reduce our debts, and pay off taxes and leases for equipment. Knowing that we have such a fast and easy merchant cash advance behind us helps us maintain cash flow without worrying about debts. Shavit Funding is transparent and clear in its terms and has no hidden costs. Working with them has been a great experience.
21st May 2010 Merchant Cash Advance | Paramount Merchant Funding, LLC, New York, New York, 10001, United States
I have been in business for two years and my bank declined my small business loan application. But, I was introduced to Paramount Merchant Funding and its Business Cash Advance product by another friend who had taken a merchant cash advance from them before. Paramount Merchant Funding's customer service and sales department were there for me when I needed it the most and are the main reason I continue to utilize working capital from Paramount Merchant Funding to fund my business expenses and cash flow. Paramount Merchant Funding's integrity and customer service are unmatched in the industry.
18th May 2010 Merchant Cash Advance | benchmark Capital Funding, COLD SPRING HARBOR, NEW YORK, 11724, United States
Benchmark Capital Funding is key to managing my business cash flows. Having access to working capital is critical for me as a retail store owner, since access to new stock is necessary to keep my business growing. Before I found out about Benchmark Capital Funding, I tried applying for a small business loan through my bank, but they required me to use my residential home as collateral, which I was not comfortable doing at all. Using Benchmark Capital Funding's Business Cash Advance Loan has enabled me to keep the lights on during these turbulent economic times.
13th May 2010 Merchant Cash Advance | Central Payment Corp, Larkspur, CA, 94939, United States
I never considered credit card processing seriously as I was only a small home-based mail order business. I felt it would be too costly and the products I sold were too inexpensive to justify it. As luck would have it, I broke my foot and was confined to my computer for 2 months. I had heard of Central Payment Corp from another small business owner so I filled out the paper work and sent it in. I was worried if I had signed up with a reputed and reliable company. It's been five years now and I have never regretted my decision. Within the first three months of accepting credit card payments, my sales increased ten times over and I paid for my credit card machine in the very first month. Central Payment Corp has not made a single mistake in the five years I've been their customer. I highly recommend Central Payment Corp's credit card processing for small business.
11th May 2010 Merchant Cash Advance | CAPITAL BANKCARD OF SOUTH BEACH, MIAMI, FL, 33179, United States
I contacted several merchant account and credit card processing companies before selecting Capital Bankcard of South Beach. Capital Bankcard made what was becoming a very complex process, very clear and easy to understand. The customer service I have received from your merchant services department has been the best I have ever experienced. If anyone is looking for professional and helpful merchant card processing services, there is only one choice in my mind, Capital Bankcard - Highly Recommended!
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