Top 5 Reasons a Merchant Cash Advance is Right for Your Business

Many business owners struggle to keep costs down and keep margins high, especially when inflation is an ongoing factor. Companies need to make strategically smart decisions to advance their increase of market share and expand their customer base.

To meet new goals and overcome common challenges, businesses generally rely on commercial funding for working capital, expansion money, and to increase purchase levels of such things as materials, equipment, tools, and inventory. An increase in these assets means more leverage for future endeavors. However, to secure such funding, businesses often only consider traditional lending institutions as a source of capital.

Here are five reasons to get capital from an alternative lender:

A Merchant Cash Advance is a Low Cost Choice

Banks set their rates based on not only current trends, but also on risk. In fact, it's inarguable that traditional lenders prefer applicants with substantial collateral, a strong and long sales track record, a reasonable portion of market share, certified financial documents, and a nearly flawless credit file. Without stellar credit, an applicant business, even with a lot of collateral, will pay a premium rate for its loan.

A Fast Merchant Cash Advance Provides Needed Funds

The pace of the business world is a fast one, with new challenges arising regularly. Capital is often needed for opportunistic buys or to sustain a company threw a short stalled growth cycle. Traditional lenders take weeks to review business loan applications and weeks more to approve or deny funding. That's precious time a business can't afford to wait out.

A Quick Merchant Cash Advance Fits Business Dynamics

Access and availability of new revenue streams, opportunistic asset purchases, and changing business dynamics are all too common. Businesses need to have the capital to make pivotal changes when necessary and a merchant cash advance meets those needs. Technology is always evolving and when new developments come to the marketplace, purchasing power is an absolute must.

A Great Alternative to a Traditional Business Loan

The typical loan process is one of the most frustrating and lengthy business owners face. Business loan applicants are routinely required to provide all sorts of financial documents, including personal and corporate tax returns, certified financial statements, full asset and liability disclosures, and future sales projections for the next five to seven years. A merchant cash advance does not require any of these, greatly streamlining the lending process.

Merchant Cash Advance Rates are Low and Terms are Flexible

Because alternative lenders are heavily invested in technology and utilize the power of the world wide web, their costs are substantially lower. Those savings are passed on to business applicants in the form of low, competitive rates. What's more, merchant cash advance terms are flexible, often based on a percentage of the total loan amount rather than a fixed repayment schedule. That means payments adjust downward during slow sales cycles, making these loans very affordable.

To find the best merchant cash advance quick, interested business owners can complete a simple application online and be approved in as little as 24 hours, with funds being made available via direct deposit within a week.

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