Merchant cash advance is the best option for businesses with bad credit history
Cash flow into a business is main catalyst for success in the long run and to ensure smooth functioning of all the vital elements of a business model. To ensure proper flow of money into the business one needs to look for loan lending methods so that there is never a speed bump when it comes to putting your business in top gear. So what would one do when going for a loan and looking for something that will not employ any unnecessary restricts on how to use the loan that has been approved? In such a case one would be advised to go for a business cash advance loan option which is quite flexible and also has easy repayment options. The best thing about a business cash advance loan is that one can get a loan of up to $250,000 which by the way is more than enough for any small or mid-sized business. Surprisingly this amount of loan can be acquired within 7 days as the process is much simpler and non-complicated.
This loan option is a good one people with bad credit and in a way it opens the door for leveraging greatest untapped asset which is your future sales. So what are those vital elements that make merchant cash advance a good loan option as compared to traditional loan lending methods? Well, let's have a look.
· Traditional loan methods require above average credit, humungous down payments and also come with very restrictive guidelines on how the loan amount can be used. But merchant cash advance option has no hidden fees, no specific terms of use guidelines or any outstanding credit requirements.
· As opposed to traditional business loans which require collateral and personal guarantee, merchant cash advance option gives one the liberty to acquire loan even with a below average credit history.
· There have been instances where loan applications using traditional methods like a bank have been rejected even with a good credit history simply because of the operating period of the business.
· In this fast paced business scenario time is of the essence and if your business model requires instant access to finances for renovations, purchase of equipment or advertising then traditional methods will take too long for the qualification drill. But on the other hand merchant cash advance loans can be approved in as little as 24 hours, so it allows one to use the finances on time.
· Unlike other small business loans that require a fixed payment the merchant cash advance option is based on credit card sales volume and this allows for flexibility when it comes to repayment. This way you don't have to pay the fixed amount in the event of a slump in the market conditions or your businesses ups and downs.
· With merchant cash advance option it is not that difficult to qualify for a loan even if in the past you have been rejected for other traditional loans.
This loan option is a good one people with bad credit and in a way it opens the door for leveraging greatest untapped asset which is your future sales. So what are those vital elements that make merchant cash advance a good loan option as compared to traditional loan lending methods? Well, let's have a look.
· Traditional loan methods require above average credit, humungous down payments and also come with very restrictive guidelines on how the loan amount can be used. But merchant cash advance option has no hidden fees, no specific terms of use guidelines or any outstanding credit requirements.
· As opposed to traditional business loans which require collateral and personal guarantee, merchant cash advance option gives one the liberty to acquire loan even with a below average credit history.
· There have been instances where loan applications using traditional methods like a bank have been rejected even with a good credit history simply because of the operating period of the business.
· In this fast paced business scenario time is of the essence and if your business model requires instant access to finances for renovations, purchase of equipment or advertising then traditional methods will take too long for the qualification drill. But on the other hand merchant cash advance loans can be approved in as little as 24 hours, so it allows one to use the finances on time.
· Unlike other small business loans that require a fixed payment the merchant cash advance option is based on credit card sales volume and this allows for flexibility when it comes to repayment. This way you don't have to pay the fixed amount in the event of a slump in the market conditions or your businesses ups and downs.
· With merchant cash advance option it is not that difficult to qualify for a loan even if in the past you have been rejected for other traditional loans.