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Why Businesses Should Consider a Merchant Cash Advance

Estimated reading time: 2 mins

There are a number of advantages that a merchant cash advance can bring to your business. It is essentially not a loan, but an advance on your business’ predicted future revenue.

Offered to you on an entirely interest free basis, repayments are flexible and made using a small pre-agreed percentage of your business’ future customer card sales. In other words, if you make less one day, the amount you repay is also nicely reduced. As such, you should never encounter any undue financial strain, which you can all too easily feel with a traditional, more rigid, bank loan. Merchant cash advances are a potentially ideal solution for business owners who take a reasonable proportion of their income through their card machine, but the advantages don’t stop there…

Opportunities for New Projects and Growth

Perhaps there’s been a new and exciting marketing idea lingering in the back of your mind for months, but you’ve been too short on funding to put it into action? Or maybe you’ve been wanting to redecorate, or revamp your website? The funding you can obtain from a merchant cash advance will also give you the opportunity to finally bring these ideas into fruition. Not only this, but taking on additional projects will also drive new business sales, increasing the revenue you make in the long term.

Fast Access to Funding

Unlike a traditional bank loan, funds can be in your account within just minutes, keeping your cash-flow healthy and your business moving forward. Fast capital can help you grow your business when opportunity strikes. No business owner wants to put projects and payments on delay whilst they wait weeks for funding from a bank loan to reach their account. If you hit a financial emergency, you can cover yourself instantly and continue business as usual.

Quick & Easy Online Applications

Furthermore, the application process is exceedingly quick and very simple. It can be done completely online and takes only a few minutes for forms to be filled out. There is no need for lengthy phone calls, time consuming meetings or excessive amounts of paperwork to be filled out: applications can be made from the comfort of your own home and it is consequently ideal for busy business owners.

High Approval Rates

Another fantastic benefit is that qualifying is generally very easy. Unlike with some traditional bank loans, a perfect credit score is not necessary. Instead, your application will be reviewed on the basis of how many card sales your business processes per month. If your business processes a healthy and steady number of card sales, then your application will very likely be accepted. Consequently, if you have struggled in the past to be accepted for a bank loan, this could be your answer!

In The End

A merchant cash advance is certainly worth considering for any business owner looking to improve cash flow or wanting to kick start new, exciting projects. Its fast and flexible nature will benefit your business in numerous ways, propelling your company to keep on growing and moving forward. The entire cash advance process is smooth and stress-free. With flexible repayment schemes and interest free amounts, you are reassured that repaying will always be comfortable. All in all, a merchant cash advance is a quick, easy going and modern way for any business owner to boost funds quickly and simply.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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