Merchant Cash Advance: Should You Go for It?
Whether it's trying to get that foot traffic through the door, having more customers buy your services, or even figuring out the right pricing model for your small business, there are ways to inject extra cash flow into the business so that you can focus on other important aspects of being a business owner.
An option that you can consider is a merchant cash advance. Before checking it off from your list of cash resources, you should consider the benefits and determine whether it’s an appropriate course of action for the company. Consider some of these pluses that come along with a merchant cash advance:
- Payment is going to be fast. Instead of going back and forth with the bank, you will get your payment from a merchant cash advance within a week. There are even some services that will get your money to you as fast as 48 hours even. When you need money immediately, this is probably going to be the best option for you and your small business.
- Very easy to qualify. You don't need to jump through hoops in order to qualify for the cash advance. All they need to see is your past sales. Most cash advance merchants will feel comfortable if they see small businesses clearing $3,000 credit card sales per month, for example. However, there are some that don't require this amount and are still very easy to qualify for.
- Most merchant cash advances don't need collateral. If you're worried about the collateral that will be associated with a cash advance, there are without collateral. This way, you won't have to stress out over risking your personal assets in order to attain cash.
Comments are closed