Merchant cash advances that are provided by Local Lenders enable you to grow your business. You can get the cash that you need without the stringent requirements and high fess that are associated with traditional business loans. This funding option is suitable for retail stores, restaurants, beauty shops and many other types of businesses.
Securing the Future of your Business
The funding provider finances the future of your business by giving you money upfront. After the cash is provided, the advance is paid back through a set percentage of the sales that you make each month. A simple application process, quick funding and flexible payback schedule are among the benefits that you can look forward to when you choose a cash advance as your financing solution.
Funding providers are aware of how busy business owners can be and have designed a process that is both time and cost effective. If you need an easier way to get financing your business, cash advances are a good option. Small businesses often require help with funding and accessing working capital can be difficult.
Businesses can get a wide range of amounts according to their needs and have it in their accounts within a week. A simplified online application begins the process of ensuring that you have the money you need to run your business. You will be able to get the working capital that is necessary for your thriving business along with a flexible repayment plan that is proportionate to your cash flow.
The online application process allows you to let the funding company know the cash advance amount that you require for your business. The three simple steps that lead you to the funds that you need are applying, qualifying for the advance and quickly getting the funds.
Payments are determined by the percentage of sales and you are not required to pay a fixed amount each month like with other loans. The simple repayment process is based on the cash flow of your business as a percentage of the sales are withdrawn on a regular basis to gradually pay off the advance.
Approval without Perfect Credit
- Small business owners who have previously struggled to borrow form various lenders can rest assured that their applications will be approved and they will be able to secure working capital for their ventures.
- It has become increasingly common for smaller businesses to have bad credit owing to challenging financial circumstances. Unlike bigger organizations that usually have access to large sums of money, small businesses usually find it hard to access capital when they have bad credit.
- A funding provider that provides cash advances that are exchanged for future sales is able to provide approval without considering bad credit ratings. This is a major advantage for business owners whose poor credit scores have made it difficult for them to secure loans.
- Business owners are not required to place forward collateral and the transaction is quickly approved before delivering the cash advance. Cash advances for merchants are unsecured loans and there are no penalties for people who do not have perfect credit.
Winston Phillips is a business writer who covers various aspects of the business world. To learn more about cash advance, read here.