Merchant Advance
Business Cash Advance
Working Capital
Merchant Advance funding has come a long way in the last 15 years.
Approval and funding time can be as little as 48 hours or less. Less documents are required and the client can submit everything electronically.
Ideally, this type of business funding is for the merchant, office or medical practice that has a specific goal in mind. Apply the funds to your specific business goal so you feel the costs of financing were worth it.
Normally, a Merchant Advance is requested because your bank won’t approve your application or can’t get you an approval in time for your need. Perhaps you have an urgent inventory, payroll, equipment expense or temporary cash flow to cover? If so, you have an alternative to traditional bank financing with a Merchant Advance.
And these funders are competitive. They may vary their niche depending on good & bad credit, they may vary depending on your industry type. You may want a 3-month term and you may want an 18-month term. Merchant Advances are known for their daily automatic payments but a number of them offer weekly payments.
Always remember, the Merchant Advance is best used to fill the void of your Working Capital needs. Some business owners become addicted to having “quick liquidity”. Always discipline yourself to applying your funds as you had intended in order that you are out of debt on schedule.
Ready to move forward? Here are some recommendations. And look for the “new customer referral award”. Each page has a different offer.
{1} $5000 to $300,000 - IOU Financial recommend by Kevin O'Leary of the Shark Tank TV series. An online
{2} American Microloan
{3} BCD Funding is a more aggressive group that will approve for as little as $2500 and as much as $750,000
Its said that 5%-10% of all Merchants need money but at this point in time, Banks are tightening up due to America’s credit crunch. The tight criterion which existed before, are now tighter making Bank Financing less of an option and less practical. Click here for Frequently Asked Questions.
When Merchants are cash strapped, while having everything else in place - they could suffer from what’s commonly referred to as “Opportunity Loss”. What if you’re in position to do an addition, or bring in supplies that are currently in hot commodity, do you belong to a Franchise that mandates you do upgrades?
