Why You Should Be Getting a Merchant Cash Advance
There are a number of benefits provided by a merchant cash advance, and many of these may be appropriate to your small business. If you’ve been thinking about applying for a merchant cash advance, here are some of the reasons why it may prove highly beneficial to your operation.
Ease of Application
It’s far more easy to fill out an application for a merchant cash advance (MCA) than it is for any type of traditional loan. You can generally go online to fill out your application and by simply providing some pertinent business information, you’ll be able to apply and generally receive a response within 48 hours. It could hardly be any easier to apply for funding than when applying for a merchant cash advance.
Quick Access to Capital
As opposed to going through the application process with a traditional lender, you can secure funding through MCA far more quickly. In fact, most applicants receive the funds they need within one week or less after applying. Needless to say, this kind of immediate access to cash can solve a number of crucial problems for your business.
No Impact on Credit
Because you’re not taking out any kind of loan, there is no impact on your credit history or your credit score when you apply for MCA. You also won’t have to bother with any monthly payments, because there’s no loan to repay.
Stellar Credit Is Not Required
It’s not necessary to have outstanding credit when applying for a merchant cash advance. Since your creditworthiness depends much more on the volume of business that you have each month, MCA lenders don’t typically require a high credit score from applicants. This means that far more applicants will be approved and that less-than-perfect credit will not disqualify you.
Merchant cash advances through Approved Business Lending
If you’ve been considering MCA, we’d like to hear from you at Approved Business Lending. Contact us at your earliest convenience, so we can explain how it all works, and how a merchant cash advance can be extremely helpful to your small business operation.