Finding a merchant account that looks at your business and not just at your credit score, if they are deciding if they are going to lend you money, it is possible.
Getting cash for your business is possible if you are working with the right merchant provider. It is even possible to get a merchant cash advance with a bad credit score. A merchant account provider is looking at the sales from using debit and visa cards; payment for the cash advance is in the form of a percentage from the sales made during the course of the day, this percentage agreed upon before paying out the cash advance.
The benefits to any business looking to have an injection of cash is the lack of monthly payments, often with higher interest rates than banks will charge, compared to what a merchant account provider offers.
Using cash advances from your merchant provider allows you to grow and develop your business in your own way, without the need to provide reasons as to the need for the cash. This type of business loan is restrictive and doesn’t offer the flexibility that many smaller businesses need.
A merchant cash advance allows you to spend the money on items that you need for the business from increasing the stock that you hold to paying staff wages, the choice is yours. It is your business and you should have the freedom to grow it as you see fit.
If you or your business has bad credit it is still possible to get a cash advance from a high-risk merchant account provider. They are going to look at the business sales on debit and credit card sales to consider the lending of a cash advance, as this is how the company is able to reclaim the money back.
Therefore, if you are looking to secure a cash advance from your merchant account provider it is possible, even with bad credit.
Contact us today!
