Merchant Cash Advances for Business
One of the least-known merchant financing strategies for successful businesses is potentially the single best working capital management strategy for obtaining needed capital, the use of a merchant cash advance program or credit card receivables funding.
For any business that accepts credit cards as a method of payment, a merchant cash advance is a critical business financing tool that is often overlooked. A merchant cash advance allows a business owner to get a large sum of cash now, without incurring any additional debt. The reason is simple; you are not receiving a loan. You are “selling an asset at a small discount”, your future credit card sales.
Merchant Cash Advance companies work with both established and expanding businesses to provide working capital to businesses in the small-to-medium sized range who have difficulty securing capital from traditional financial institutions or prefer a funding option that aligns with their cash flow. Working capital can be in the business owner’s hands in 7-10 days.
What are the key advantages of a Merchant Cash Advance over other forms of financing? A Merchant Cash Advance, also known as credit card factoring, allows a business owner to get a large lump sum of cash now, without incurring additional debt. A credit card receivable funding is not a loan. You are “selling an asset at a small discount”, your future credit card sales.
Other major advantages include:
- No long application process
- 24 hour approval
- Cash in 7-10 working days
- No application fees
- No tax returns needed
- No business plan needed
- No closing costs
- No fixed payment terms
- No fixed time
- No hassles
What can you use the money for?
- Buying out a partner
- Expansion
- Advertising campaign
- Hiring personnel
- Payroll
- Emergencies
- Almost anything related to your business.
As you can see, a Merchant Cash Advance can potentially be the single best working capital management strategy for obtaining needed cash. This is a vital business financing tool that should not be overlooked.
Now let’s explore what you, as a business owner, need in order to qualify for such funding. You’ll see it’s very easy to qualify. Then we will compare qualifications needed for a credit card receivables funding vs. traditional bank loan.
How do you qualify for funding?
General guidelines:
Minimum $4,000 per month in credit card sales (MasterCard/Visa)
3+ months in business, preferably one year
No unresolved bankruptcies
Let’s compare the qualifications: Merchant Cash Advance vs. a traditional Bank loan.
Traditional Bank Loan:
Minimum 3 Years in Business
Business Asset Collateral
Personal Guarantees
3 Years Tax Returns
3 Years Financial Statements
High Credit Score
Application Fee
Closing Cost
Long Application
Long Approval Process
Merchant Cash Advance:
6+ months in Business, one year preferred
Based on future VISA/MC Sales
No Personal Guarantee
No 3 Years of Tax Returns
No 3 Years of Financial Statements
Credit Score Does Not Matter
No Application Fee
No Closing Cost
2 Page Application
24 Hour Approval
Do you see how easy it is to qualify for this type of funding vs. a traditional bank loan?
Additional benefits of this type of funding:No Preset Dates No Preset Amounts No Need to fill out stubs and enclose checks The process is fully automated; “We’re paid if and only when you’re paid”
Crown Financial Services is proud members of the American Cash Flow Association, the Las Vegas Better Business Bureau and Las Vegas Chamber of Commerce. With fast, courteous and professional service, we aim to help businesses reach their financial goals and dreams. We appreciate you allowing us to explain our working capital solutions for small business.
Let us provide you with a lump sum of cash now! Call today for a free no cost no obligation consultation, (866) 560-8079. Call in to see if you qualify for a $25,000 lump sum cash advance! What are you waiting for? Let’s start the process today!