What is a Merchant Cash Advance?
A merchant/business cash advance is not a loan. It is a purchase of your future receivables or sales. It is a financing option that allows quick and easy funding by utilizing your business' future sales.
Merchant cash advances can have funding amounts as high as Five million dollars, making them an excellent alternative to standard business loans. Even better, they’re much more accessible and have higher approval rates than different kinds of financing. Merchant cash advances for startups and newer businesses are a feasible solution when looking for funding.
They provide access to fast, flexible financing with out fixed-month-to-month payments. Instead, you’ll pay back your loan through a small percent of your future sales. This setup allows you to obtain cash right away to put toward any new opportunity or business expense.
Merchant cash advances are perfect when you want funds now and don’t want to undergo the hurdles of applying for more conventional kinds of financing - including business loans or SBA programs.
How does a Merchant Cash Advance Work?
A merchant cash advance gives a lump sum of cash in exchange for a percent of your future sales. Instead of dealing with monthly payments, you’ll pay off your loan with small, automated deductions.
Merchant cash advances provide fast financing - and you could use the finances for almost any type of business expense.
What are the benefits of a merchant cash advance?
Some of the biggest benefits of a merchant cash advance include the resolution of short-term cash flow issues, flexibility in relation to the funding of various expenses (which includes covering unexpected costs or buying inventory) and speed. Additionally, you may get this sort of investment regardless of bad credit history.
Merchant cash advances are some of the fastest business financing solutions available. Other varieties of business loans can take several weeks or months to process, but merchant cash advances tend to deliver cash nearly immediately. They’re especially famous amongst businesses with seasonal lulls or common cash flow disruptions.
Can I get merchant cash funding with bad credit?
Yes! Having good credit makes it simpler and cheaper to secure financing - however it’s still viable to get a merchant cash advance with a terrible credit score. actually, a lot of online lenders have no minimum credit score requirements for merchant cash advances.
When you apply for a merchant cash advance, your business’s revenue, or sales, will count more than your credit score rating. This may be especially useful in case your business is new or hasn’t built up enough credit. In fact, it’s also one of the reasons merchant cash advances are exceptionally accessible financing solutions.
There can be a few variations in credit score requirements depending on the type of lender you work with. Some lenders, like traditional banks or credit unions, place considerable importance on your credit score. However, different lenders - especially online lenders, take a broader view of your credentials. They’re much more likely to consider your revenue, possibilities for growth, time in business, in addition to other factors.
Can I get a same day merchant cash advance?
Yes! When you apply for a merchant cash advance with Trust Capital Funding, you will be eligible to receive funds in as little as 24 hours or less.
Trust Capital is a direct lender with a large network of other lenders producing personalized financing offers based on your particular criteria and needs.
Simply browse your offers and pick out the best interest rates and terms available. If you have any questions, one of our experienced Business Financing Advisors will step up to help you along every step of the process.
Why Choose Trust Capital Funding?
We can offer the best business financing around because we are direct lenders. On top of that we work directly with a large network of lenders to provide you with multiple options for financing. Compared to a bank we need a lot less paperwork, (only 3 months of bank statements) and our online application is one page and only takes a couple of minutes to complete. We have in house underwriters that look at your file and a personal advisor is assigned to every customer. We also have higher business loan approval ratings than traditional banks with no minimum FICO score. Apply now as let us show you why it makes a difference to work with Trust Capital.