Growth comes with the need for financing. Do you need a loan, but your bank has rejected your application? What about a merchant loan? Where can you obtain a merchant cash advance easily and with the lowest rates possible? The answers appear in this post.
Merchant Loans
The financial crisis of the US in 2008 affected the availability of funding even to those borrowers who didn’t have any problems with eligibility. At those times, a merchant loan appeared as something different from traditional loans. It was an alternative to those who were hit by the crisis.
Merchant loans can help those who have a difficult time getting approved for business financing. A merchant cash advance (also called a business cash advance) is a more accurate way to describe a merchant loan.
In fact, a merchant cash advance (MCA) is just a sale of a portion of your future sales: it’s not a loan. It’s short-term, unsecured business funding, which offers increased flexibility in how you structure your loan.
Today, an MCA has become an incredibly appreciated type of business funding. Many business owners now prefer to apply for it instead of traditional loans. As to repayments, you make them daily. The lender takes a proportion of your daily card sales automatically.
MCAs can be arranged very quickly. So, if you need funds for an immediate or unexpected event, you can surely go with a merchant cash advance. If you find it’s useful for you to make repayments in line with your card takings, this type of funding is a fine option to try.
Merchant Cash Advance from FAM: Fastest, Easiest, and Cheapest
Financing that best meets your financial needs is something you can’t do without when taking your business to the next level. To get the best type of funding that fits the specific needs of your forward-moving company, you should look for a reputable lender in the field.
FirstAmercianMerchant.com is a respectable alternative online lender and payment processor that specializes in the high risk space. First American Merchant is focused on providing unmatched funding solutions both to low and high risk merchants of any size. A merchant loan from FAM, an award-winning business funding provider, is faster, lower cost, and easier than you may have thought.
MCAs offer a number of benefits. E.g., the lender takes care of your repayments. Besides, you aren’t required to pay much during your slow periods. Moreover, you repay only based on your card payments and your other takings remain with you. As your business grows, so does your facility.
As you know, traditional business loans come with a set interest rate for the borrowing. With an MCA, you are to repay an agreed repayment amount.
Merchant Cash Advance
- Credit below 500 approved
- Funds arrive in 72 hours from application
- Simple, flexible programs
- No tax returns or financials
Merchant cash advances or business cash advances are growing in popularity as a type of business funding. If you’re a merchant who takes a healthy amount of money each month using your PDQ card terminal machine, you can easily qualify for it!