MERCHANT CASH ADVANCE
If a traditional small business loan isn’t a practical or viable option for your company, you may be able to benefit from a merchant cash advance per each business location. Businesses that do not have the credit history necessary to qualify for small business loans can take advantage of this helpful cash advance alternative. The funds are usually available within seven business days and do not require regular fixed payments like a traditional loan. Instead, a percentage of future credit card sales (MasterCard, Visa, Discover, American Express, etc.) is collected to repay the cash advance.
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Once the cash advance money is in your hands, you are free to use it in any business-related way that you choose, including: expansion, advertising, inventory, and more.
Sometimes small businesses need a quick financial boost in order to get on their feet initially or overcome a tough year of financial losses. If your business doesn’t have a strong credit score or enough collateral to secure a small business loan, a cash advance can give your business the jump-start that it needs to operate, grow, and become successful.