‘What is a loan advance?’ is one of the most commonly asked questions these days. Loan advance, also known as merchant cash advance, is something everyone should be aware of as it can turn out to be very beneficial for you. Almost all of us wish to start a business, but most of us do not know how to finance it. A great number of people worry about ways to finance their business, but thanks to merchant cash advance this problem is greatly reduced.
What Is Merchant Cash Advance?
The answer is simple, it is a way to finance your business. Here, you technically take a loan, but it is not a loan. Here, the person providing the fund (loan) purchases a certain amount of your future business’ sales (debit and credit card) at a specified discount.
This type of loan can be taken by any business, but is most popular among small business owners and retailers. Most individuals that do not want to get into the hassle of bank loans turn to merchant cash advance to get the funds and kick start their business.
According to Daily Funder, it is now a billion dollar industry. If the numbers are to be believed, the funding amount stood above $3 billion i 2013. This itself shows how powerful and successful credit source merchant cash advance has become and how many individuals are interested in going this way to get their business going.
If you are also looking for a loan for any purpose, you can come to us. Speed Fund LLC. is your go-to option for all kind of funding as we are always available with the right kind of solution to your financial problems. Click here to know more about merchant cash advance and what we have to offer.
This source of funding has proven to be beneficial and you should not delay in applying for a this type of funding.