Business Cash Advance a revolution in banking industry
Merchant Cash Advance (MCA), also known as Business Cash Advance, is one the biggest revolutions in the history of banking industry of United States. In 1998, Business Cash Advance was introduced to make cash advance for business within the USA an easy deal for entrepreneurs to expand their business operations and maintain cash flows as per their requirements. Mainly, it helped small business a lot by providing cash advance for business on very easy terms in a very short time. For the small businesses which are not qualified to get loans from traditional banks or financial institutions, Business Cash Advance is the easiest way and best solution for merchants.
Why is a Business Cash Advance a revolution in the US banking industry?
1- Credit Score is not a big problem in some cases.
For any kind of loan, if you request a traditional bank, you will be surely disqualified if you don’t have a good credit score. On the other hand, if you need a Business Cash Advance, the Merchant lenders will not bother your credit score much.
2- Profitability is not a matter.
If your business is not profitable but you know that you will reach your sales targets in next few months, the traditional banks or financial institutions will not approve you for any loans associated with just your unprofitable business(though they will lend you money under your name and by keeping something as collateral). But Business Cash Advance lenders will never be worried about the profitability of the business. Cash advance for business totally depends on your future credit card sales or bank receipts.
3- No requirement for collateral.
Collateral for a cash advance for business is a thing of past when it comes to Business Cash Advance or MCA. As discussed above, Business Cash Advance lenders are only concerned about your future cash inflows. This makes the life of entrepreneurs much easier even if they have collateral available; they can use that collateral in future for some other purposes.
4- Being in business for so long is not a requirement.
If you are thinking to get cash advance for business, it will surely come to your mind that if you need loan only against your business then it must have great statements and strong tax returns of past three years. However, Business Cash Advance is a totally different story. Business Cash Advance lenders can provide you MCA loan even if you have not completed a full year in the business.
5- Relief from paperwork.
It is quite natural that when we think about getting any loan we are afraid of completing the paperwork and fulfilling a lot of compliance requirements of the traditional banks and financial institutions. You have to provide so many documents even without a guarantee of getting funds you need, sometimes businesses get rejected after providing applications, statements, and multiple documents. However, when it comes to Business Cash Advance, there are no such paperwork requirements. Further, you don’t need to visit the Business Cash Advance lending company. Furthermore, many lenders are accepting applications online and if you are approved for the loan you do not need to provide more paperwork and documents.
6- Business Cash Advance is FAST.
Yes, you read correctly. Business Cash Advance is the fastest option among all the loan products available in the market. This usually takes just a couple of days to process. If you need quick money, a Business Cash Advance is the best option.
Some other financing options may include these:
When you are getting ready to launch your own business could be a very tricky but also a risky move. Everyone wants to be successful in their own way. But how exactly is it possible of you don’t have a big capital to begin at first. When starting your own business, expecting massive success over night will not that be practical to expect. Of course it is with hard work, commitment and productive outputs which will rely on the growth of your business. Individuals who intend to start their own business is fortunate to have a relief supporter like SBA who provides loans for small business owners to start up and run their business.
SBA payments and all other funding are done in a very lenient and convenient manner. This makes customers who are small business owners very comfortable to build up a trustworthy reputation with the SBA. This is very different than a business cash advance program. Surely if you are starting up a business you ought to have a necessary amount of capital to be invested in it for proceeding your business further. Therefore SBA is the best backbone who is here to support you and the success of your business too. It is a very fortunate statement that individuals who are in need of money and who also possess a dream of starting their business can now turn towards the support provided SBA and gain profits.
Thank you for taking your time and reading this article, I really appreciate that. If you have any questions or need a Business Cash Advance, please feel free to contact us!
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When you are looking for a business cash advance you will have access to the best unsecured business funding and small business loans they can possibly qualify for from the best lenders nationwide including unsecured credit lines at 0% APR for 12 months and low interest unsecured loans when you are looking for a cash advance for business. You can draw against credit lines as often as they like. Only make monthly payments for what they've used. Unlike many other lenders, our express funding solutions are simple to apply for and have more favorable terms than a business cash advance.
BUSINESS CASH ADVANCE
$25k - $250k in business funding and personal lines of credit
Get small business cash advance funding in 14 - 21 days
24 Hour or less Pre-Approval
0% interest for 9 to 15 months
Stated Income & Start-Ups OK!
Our partners' underwriting team will quickly evaluate your situation and come up with cash advance for business options using their strategic lender matching platform to provide the best possible business funding that your client can qualify for nationwide, guaranteed! when you are looking for a business cash advance!
Wikipedia Business Cash Advance