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Merchant Cash Advance to the Rescue
Merchant Cash Advance to the Rescue Times are tough for small business. Businesses have been closing their doors at an alarming rate. What makes this a particularly rough time for businesses is that they are getting it from both sides;
- ,li>Customers arent purchasing their goods or services like they used to.
- Banks arent lending them the working capital to get past these tough times.
This is what is known as a “double whammy”. This current financial crisis is causing a lot of sleepless nights for many small business owners. I have come into contact with people who are being forced to close their business that they have owned for over 30 years. I cant express the amount of pain that these people are going through.
For many, a business loan could have saved their business. But the banks are unwilling to loan money to any business that may show any sign of financial trouble. What is maddening is that these large banks were given our tax money to do just that; loan us money.
Fortunately, there is a business loan alternative called a merchant cash advance (or merchant loans). They arent perfect; but they come awfully close.
The advantages of a merchant cash advance
There are many advantages to a merchant cash advance. One of the most important is that they will give you money even if youve been turned down by the bank. Other advantages include;
- Good credit is not a requirement
- There is a 95% approval rate
- Approval takes about 24 hours
- You business is typically funded within 7 days
- No collateral is necessary
- Flexible payback structure
- Quick, easy application process
- You can get funded up to $500K
As you can see, there are many benefits to merchant loans. The only advantage bank loans have is that they cost less. But that doesnt do anyone any good if they cant get a loan.
One of the unique aspects of a merchant cash advance is the flexible pay back structure. Heres how it works;
In order to receive a cash advance; you need to enable your processor so that a percentage of your daily credit card sales are automatically used to pay back the merchant loan. Because they only use a percentage of your credit card sales; the payback is dependent on the amount of business you do for that day. That means you pay back less on slow days and more on busy days. They do not touch your cash sales at all. This takes a lot of stress off your business and creates an environment that is easy to pay back your advance.
Merchant cash advance providers is a growing industry. They have advanced hundreds of millions of dollars to thousands of small business.
It is always in your best interest to stay informed and to keep your options open. I have provided a link below so you can learn more about how a merchant cash advance can help your business.
Cash Advance Loan in United Kingdom
A plan of conservative fiscal maintenance starts with putting out any remaining creditor fires. In this regard, payday advance loan can suitably perform in the most timely and convenient manner. This can help the borrower concentrate on less hand to mouth financing tasks.
The secret to financial success is to set realistic and achievable goals in terms of ones income while reducing the monthly liabilities to their bare minimum. Hard and fast numbers can be used in the calculation of how much savings is needed to achieve financial goals for those that receive straight forward salary and benefit packages. The advance cash payday loan can be used to create the momentum that is necessary to reach a more stable financial condition.
Payday advance loans are categorized as short-term loans. A borrower can get quick cash from a loan provider either through a brick and mortar payday advance loan operator or online. The period allowed for repayment is typically between seven (7) to twenty one (21) days or more specifically, on the next payday.
A medical emergency may be one of the reasons a person may take on a payday advance loan. In reality, the reasons acceptable are unlimited. As long as the borrower sees a real need for the payday advance loan, he/she can do so armed with the minimal requirements. The borrower however, should be true enough to at least to himself/herself whether such reason warrants a payday advance loan. To do so unnecessarily or beyond ones capacity to pay is one way of inviting trouble.
Payday advance loan providers have filled in the need of most people belonging to the working class. Even those who are gainfully employed experience occasional shortage in cash flow because not all have a ready back-up in case such emergency financial situation arises. Payday advance loans are very fast and easy to access so that emergency needs are resolved in the fastest possible time.
Lenders who offer payday advance loans are aware of the fact that its attraction lies on the easy application process, fast approval and the friendly and helpful operators. A online payday loan is a product that is meant to offer the best possible servicing of unexpected financial needs. There are places of operation where rollovers are strictly prohibited. In places where it is permissible, the applicable laws are generally followed in recognition of the fact that not all financial needs can be instantly solved and may take several pay periods to correct itself.