Merchant Cash Advance

In today’s troubled and shaky economy, maintaining your small business is easier said than done.  Thanks to the credit crunch, banks have drastically cut back on the number of loans that they grant to small businesses on the basis that it is too much of a risk.  If you find yourself needing cash for your small business, consider applying for a merchant cash advance. 

A merchant cash advance is just what it sounds like.  Based on the number of credit card sales you make in your business each month, you may qualify to receive an advance on future credit card sales.  A merchant cash advance is designed to give entrepreneurs access to the capital they need to expand or promote their business.

Merchant cash advances do not require that you submit a business plan detailing how the money will be spent, unlike traditional bank loans.  Your merchant cash advance can be used for any business needs that you might have.  Repayment of your merchant cash advance is both easy and worry free.  Your monthly payments are calculated by taking an agreed upon percent of that month’s credit card sales.  Months that are booming mean that you will make a larger payment on your merchant cash advance and months where business drags a little means that you will make a smaller payment.  There is no term date for your merchant cash advance; just make your monthly payments until your merchant cash advance is repaid in full.

Even if your business has a poor credit history, you may still apply and be approved for a merchant cash advance.  Merchant cash advances are unsecured, which means that you never have to worry about losing your assets or business.  You remain in control of all the equity in your business.  A merchant cash advance is simply another option that can be employed by small business owners when they need a little extra capital for their growing business but do not want to have to deal with a bank.