Merchant cash advances are a fast and simple way to raise working capital for any business needs you may have. When you seek a business cash advance in New York, NY , you’ll receive the upfront cash your business needs with no restrictions on its usage. Merchant cash advances are repaid via credit card transactions on a daily basis. Because merchant cash advances differ from business loans in several ways, they can provide a powerful tool that may offer the business financing solution you need.
Unlike business loans, which typically have a complex and lengthy approval process, merchant cash advances are typically approved for any business able to show it receives regular credit card usage. Furthermore, if you can show a high rate of daily credit card transactions and positive cash flow statements, you’ll receive a lower interest rate and have an easier time repaying a merchant cash advance.
Business cash advances allow you to repay your debt and any interest via credit card transactions. In many cases, merchant cash advances allow for flexibility in terms of repayment and interest percentages. If you are struggling at the current time but anticipate higher rates of sales in the future, a merchant cash advance is the perfect business financing tool. A business cash advance eliminates worry about making consistent monthly payments that aren’t affected by performance and cash flow, which are typical of a business loan.
Business loans are often granted on specific terms that state where and how funds can and cannot be used. By contrast, merchant cash advances have no such restrictions, allowing you to use the capital you receive for any purpose. Whether you need working capital for an upcoming expansion project or to mitigate the costs of an unexpected loss, a merchant cash advance is versatile enough to serve these needs.