Many high risk merchants need cash. Some turn to relatives and friends, while others look for a small business loan. The latter can be tricky, as most banks and lenders will not lend to a high risk business. For those who do, the interest rates are enormous – and the repayments start back almost immediately. There is a better alternative, and it is called the merchant cash advance. This is not like traditional payday cash advances, where interest is huge, and it is nearly impossible to pay off. Instead, a merchant cash advance can give your business the cash it needs, along with the expertise of a high risk processor.

Few offer up merchant cash advances, and one of the best is FAM. While a traditional loan needs repayment almost immediately, merchant cash advances are repaid when the company begins making money, and it is repaid at a percentage that is agreed upon before the papers are signed. Aside from needing “traditional” funding, a merchant cash advance can also provide the funding needed to hire additional help for holidays or other busy seasons. You can also use the funds to upgrade equipment, or add stock. Nearly any business-related expense can use a merchant cash advance, and not only debts, as some assume.

Another plus is that the process for obtaining a merchant cash advance is relatively simple, as compared to a traditional loan. Traditional loans typically require an application, wait time, business plan, budget, spending plan, and then more wait time. Typically high risk merchants are not given a traditional loan, even if they have their business plan together. The businesses are too risky, according to the mainstream lending industry, and it is not worth losing money on a high risk business. With a merchant cash advance, the process is simple, typically involving an application and a 72 hours waiting period. There is a high percentage of acceptance, and there is not credit requirement. Also, there is no need for collateral, which is great for those who are new to the business world. A merchant cash advance is a great resource for businesses, and this should be the first place you look when you are in need of extra business funding.

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