From buying the latest trendy clothes online to getting easy business funding online, the internet has definitely made our lives easier. Yes, online merchant cash advance providers are making it easier for businesses that banks and other traditional money lenders consider risky to access financing. Here are some advantages of considering online providers of merchant cash advances.
Submit Application in Few Minutes
Applying for online business funding is as easy as it gets. Unlike when you’re applying for an advance from a bank, you don’t have to submit a hard application for a merchant cash advance. All you have to do is find a trustworthy company offering MCAs, fill in the information required for the online application form, and hit the submit button. The details you need to provide are very basic – for example, your industry, how long you’ve been in business, total average monthly revenue, average monthly credit card processing volume, how much financing you want and when you want it.
Benefit From High Approval Rates
A merchant cash advance is an excellent solution for online small business funding. Small business owners typically have a tough time securing an advance from a bank or any other traditional money lending institution. A bad credit score, inability to provide collateral, and lengthy, complex processing can make it impossible for small business owners to the funds they require when they need it the most. Merchant cash advance companies do not give major importance to credit score and do not ask for collateral – two important factors that work in the favor of small business owners.
Get Upfront Cash in 2-3 Days
Online merchant cash advance providers ensure an easy business funding process. As soon as you submit an application form, the merchant cash provider will look to see if you qualify for a cash advance. MCA companies focus on the business’s incoming revenues and ability to repay the advanced amount from future receivables. If you qualify, the company will send you an offer for you to review and if you agree to the terms of the contracts, funds are wired to your business bank account within days and sometimes within hours.
Repay From Future Receivables
In exchange for the cash advance, businesses commit to repaying a portion of future receivables over time till the advanced amount and applicable fees are paid off completely. This arrangement allows business owners to remit more or remit less depending on sales volumes. Business owners can repay more when sales volumes are more or pay less when sales volumes are low – this is a game-changing online small business funding solution that seasonal businesses can take advantage of. Moreover, business owners are free to use the advanced amount for any business-related purpose.
If you are looking for swift and easy business funding, do consider applying for a merchant cash advance online. Another advantage of the online business funding model is that you can research from the comfort of your home or office to find a reliable company providing competitive offers and flexible terms. Get the ball rolling and access the funding you need to run and grow your business!