A small business cash advance is also known as account receivables factoring in the banking sector. Although it has been around for a number of years, it is only recently that business owners have been taking advantage of a small business cash advance. Unlike a small business loan, there are no upfront fees, closing costs or loss of equity. A small business cash advance is offered to business owners by sources who purchase a pre-determined amount of reputable credit facilities such as Visa or MasterCard sales receipts. At Merchant Finance Connection, small business cash advance is among the services that are provided by their lending institution partners.
Applying for a small business loan requires a business owner to have some form of collateral to secure the loan or, they can apply for a small business cash advance where the business’ future credit card sales are bought at a discount. For a business that is just starting up or expanding, getting a small business cash advance is a great way for the business to get the money it needs while being able to pay back the lending company in a timely and dependable manner. This is because payments to the lender come directly out of the credit card facilities’ account through a percentage of each credit card transaction the business makes. The amount due on the loan becomes easier and quicker to pay off. However, in order to receive a small business cash advance the business owner must have a credit card account.
There are a number of ways that a business can use the money from a small business cash advance. The money can be used to advertise, expand, as working capital, to purchase equipment, for inventory, renovations, and emergencies and even pay taxes. All you need to qualify for a small business cash advance is:
- The business must accept credit card payments
- The business must process a certain minimum stipulated amount/month of the specific credit card provider sales
- Personal or business credit is usually not a major factor
Merchant Finance Connection (www.merchantfinanceconnection.com) can provide you with a lender who will be willing to give you a small business cash advance or any other type of business loan you need for working capital. It is important to find a lender who will continue to support the growth of your business, not only by giving you a small business cash advance but also one who will assist you in leasing equipment or obtaining commercial mortgage loans. At Merchant Finance Connection, the management team screens lending companies to find you the finance program, be it a small business cash advance or a working capital business loan that has the lowest rates and the most flexible payment schedules while providing expedient funding.
A small business cash advance can go a long way for any business owner who wants to expand their business or partake in advancing technology. As former business owners, Merchant Finance Connection understands that
- Unexpected things happen
- You need timely and affordable funding
- You need to manage your cash flow
- You need to respond to industry trends
- You need to adapt to advances in technology
- You need new equipment to save time and money
- You need another location to increase your profits
That is why at www.merchantfinanceconnection.com you will find the solution to your business financing problems. From small business cash advances to business loans, they will find you a lender who will provide a solution for any facet of your financial needs based on credit-worthiness. |
