A merchant cash advance is one of the best tools available to small business owners who need to expand their available capital and cash flow. Is it really a good option? This option allows you to borrow money at a low rate and pay it back over time, just like any other type of credit, but it is available for those who may have no credit or bad credit, just as it would be available to those with good credit. The fact is, there are some excellent benefits to utilizing a merchant cash advance and Advance Funds Network is the place to go to get those funds.
The Top Three Benefits and Advantages of a
Merchant Cash Advance
Look at some of the benefits that this product can offer to your business. You may be surprised at how easy it can be for your business to utilize this method of financing.
1. Seasonal business owners do not have to worry about making massive payments in the middle of the dead season. Unlike other lines of credit with a fixed fee paid each month, the merchant cash advance actually provides more flexibility in repayment. The business owner only pays back funds when he or she has the money coming in, based on the amount of funds coming into the business.
2. A business owner who may be without credit history or who has bad credit will be able to tap into these funds if he or she can show the revenue his business has earned in the recent past, and which should be expected in the future. In other words, your business is not subject to the limitations of a credit score for financing. This opens the door for the business to tap into a larger reserve of money regardless of past credit mistakes or lack of credit. After all, a business cannot survive without credit.
3. The funds are useful in any way the business needs. There is no limitation on where the funds may be utilized within the business. For some, it may be paid towards advertising and marketing campaigns while for other businesses may use the funds to buy inventory, train employees or to pay accounts payable. You are not limited in how you use the funds.
There are other benefits of a small business merchant cash advance, too. For example, there is no credit check involved in the process. You can get the funding right away, without too much risk of being turned down. The amount you can borrow is based off your sales, not any other limitation, looking back over a period of several months. The program is affordable too. You do not have to pay back a high interest rate as you would with a traditional credit card or short-term private loan.
A merchant cash advance is one of the best funding options for a small business with little to no credit. Advance Funds Network has made it easy for a business owner to tap into these funds, too. You no longer have to worry about making ends meet or limiting purchases. Rather, utilize a business credit system that allows you to pay the funds back as your customers come in and pay you.