A merchant cash advance is a quickly growing method of funding a business. It is among one of the most preferred methods of funding due to several reasons. Do you wonder why this has found such mass acceptance and why you should also jump the bandwagon and utilize this simple cash flow solution? Well, do not wonder anymore because given below are some of the main benefits of merchant cash advance, also called MCA, funding.
It Is Easy
One of the major reasons why MCA funding has been accepted on such a large scale is the fact that it is very easy to get. Unlike bank loans, you do not have to go through a lot of red tape and tough eligibility criteria to be eligible for such a loan. The eligibility criteria depends on a lot of things including the amount of amount requested and the nature of business, in addition to the source of loan. Conversely, our terms and conditions are very neat and clean and we recommend you get in touch with us to know more about how we can process your request.
It is Quick
We understand how important it is for a business to have a smooth flow of cash for it to be able to maintain itself, especially when the competition is so tough. Unlike most loan providers, we do not take weeks in processing your request for loan. This is actually one of the main benefits of MCA financing as the request is processed in a very quick manner and you do not have to wait before the cash reaches you.
For a few providers of merchant cash advance, the financial data provided by an organization are often as restricted as four months’ statements of a credit card, three months of bank statements, and a replica of the company’s lease agreement.
The payment schedule depends on the revenues of the business, and there are numerous ways of paying back your loan. Also, if the business gets closed, the business doesn’t ought to make any kind of payments. Variety of CAN Capital purchasers were closed because of the superstorm Sandy, and got away without having to pay. This is because the businesses had no receipts of their credit cards when they were shut down. (Note – The owners of the business have obligations once they take merchant cash advance. For instance, they can’t off steer customers from paying via credit or debit cards.)