The Flexibility of a Merchant Cash Advance
Operating a small business is not an easy task. It is becoming more common for business owners to turn to financing in order to succeed. Being able to take advantage of extra working capital can be a great way for owners to get back on their feet or to improve sales and bolster their business. The merchant cash advance is one of the most appealing types of financing because it is simpler, more flexible, and faster than a traditional loan. Learn more about the benefits of getting a cash advance.
How Merchant Cash Advances Are Different
Cash advances differ from traditional loans primarily in how they are repaid throughout the loan term. Instead of making an exact monthly payment, a small percentage of your credit card sales is withdrawn. This is hugely beneficial because it means lenders require less to be repaid during slower months. Once business picks back up the lender will debit larger amounts to be repaid. Cash advances are appealing to owners of businesses which are seasonal or see inconsistent profits. Other benefits include:
- No upfront fees
- Short approval time
- No collateral required
- Simple requirements to qualify
- No closing costs
- Less required paperwork
Learn more about how Elite Capital Financing can help your business take advantage of a merchant cash advance. Our experienced financial team can work with you to develop the best plan possible.
