When beginning the process of starting up your own boutique shop, be sure to add finding merchant loan providers to your to-do list. A merchant cash advance? Isn’t that a small term loan or a high interest advance, you may ask? You will be glad to hear that this assumption is incorrect.
A small business loan involves strict requirements, long wait times for funding, complicated contracts and extensive, endless documentation. Have you traded that steady pay check and career to pursue this dream of owning your own shop? As a start-up, the last thing you want to have to do is play the wait game.
On the other hand, a merchant cash advance is in fact a sale. The processor you choose is agreeing to purchase your future sales at a discount that you both agree to. These programs are both simple and flexible. In addition, no tax returns or financials are required to apply. Applications with credit scores below 500 are accepted, and funds are received with 72 hours from submission.
With 1st American Merchant Funding, your decision to apply for a merchant cash advance couldn’t be any simpler. Due to approval being based on business performance rather than personal credit or time in business, your start-up has a great chance of being accepted for funding.
A second benefit with 1st American Merchant Funding for a boutique shop start up is the “no hassle” payback. With your merchant cash advance, your payments are automatically held from your credit card transactions. One less check you have to worry about writing each month.
Another great benefit is that no credit or collateral is on the line. Because a merchant cash advance is a sales transaction, they will not be reported on credit reports. So, unlike a business loan, no collateral is required.
Don’t delay in starting the boutique shop you’ve always wanted. Let 1st American Merchant Funding help you and your start-up. The application process is simple, and the notification and process of approval is fast and hassle free.
Contact FAM for your boutiques merchant loan today!