Business owners may find themselves needing immediate cash to make use of a financial opportunity. Perhaps you want to acquire a new trendy product, or you want to catch a discount on new equipment. Yet, you don’t have the financial resources to do it. In this case, Globelend Capital presents you with the Merchant Cash Advance, a type of short-term loan that gives you instant cash with very few requirements. This type of loan is put against your future business sales, so payments toward covering the loan will be made daily.
This means you need to have constant sales to cover the loan. With greater prospective sales, you may ask for a higher Merchant Cash Advance loan as well. Business owners pay the loan based on a percentage of the daily credit card sales. When you need instant access to funding, the merchant cash advance is your best friend. The best thing about it is that it’s very flexible and has a high borrowing limit. Call us at (855) 842-5626 or use our contact form for more information!
How Does Merchant Cash Advance Work?
This type of loan is unlike SBAs or other financing options. The primary distinction is that we leverage the loan against your future credit card sales. The agreement between the business owner and us will highlight the advance amount, the ROI, repayment terms, and monthly payback. Your business account will receive the money, and we will deduct the agreed interest and cash advance daily from your credit card sales. The process is automatic, which means you could finish paying it quite fast, depending on your sales.
A merchant cash advance has a series of benefits compared to other loan types. Mainly, it’s all about:
Ø Flexibility—When you want to inject funding into your business on a tight schedule, a merchant cash advance is perfect. Moreover, there’s no specific deadline to pay back the borrowed money, unlike most other loan types.
Ø High borrowing limit—Depending on your business’ sales, you could borrow a substantial amount of money. The better your sales are, the more money you can borrow, and the easier and faster you can pay it back!
Ø No stringent application process—no collateral, few documents, and no rigorous application process. If you have an existing business credit card and a healthy business performance, you’ll quickly obtain a merchant cash advance.
Ø Easy repayment terms—The repayment process is automatic, and there’s no time limit in which you have to pay back the loan. The repayment process is straightforward, overall!
Though, the daily deductible rate may be a disadvantage if your business sales are plummeting. Budgeting can go down the drain this way. So, before applying for a merchant cash advance, make sure your cash flow is enough to cover all your operational costs, plus the cash advance and interest! Moreover, your credit card score may suffer due to the daily deductible amount of money.
Why is a merchant cash advance useful?
A merchant cash advance is extremely useful for small or medium-sized businesses that want to access a temporary discount or financial opportunity. You can get between $25,000 and $500,000 with our Merchant Cash Advance loan. We only recommend this type of loan for short-term professional and financial endeavors, as a long-term project may not justify it.
Our interest rates are affordable, there’s no deadline, and the repayment process is entirely automatic. If your business performs well enough, you can repay the loan quickly. As your sales grow, so does the rate at which you’re repaying the loan. For a well-performing business, the Merchant Cash Advance is akin to free money.
Call us at (855) 842-5626 or use our contact form to obtain more information on our Merchant Cash Advance!