Are you looking for quick financing to help your business grow? Have you heard about merchant cash advances? These cash advances are a simple and fast way to get funding for your business, whether you need to purchase materials, hire new employees, or cover other expenses.
Merchant cash advances aren’t the same as a loan. This type of financing is based on your future credit card sales or debit transactions, and you can get approved in days rather than weeks or months. You’ll receive a lump sum within hours of approval, and you’ll repay it with a percentage of your future card sales.
With Solvent Funding, you can get the cash you need quickly and easily. Call 877.807.1180 or start your online loan application to see how much you qualify for.
What Is a Merchant Cash Advance?
A merchant cash advance is a type of financing that offers businesses a lump sum payment in exchange for a portion of their future sales. Instead of traditional loans, where funds must be repaid on a fixed schedule with interest, merchant cash advances require repayment through a percentage of your daily sales transactions. This type of financing is ideal for businesses with a consistent flow of credit card sales, as repayment will not deplete working capital.
Just a few of the benefits of merchant cash advances include:
- Fast turnaround time, with funding available within days
- No collateral required
- Minimal paperwork
- Quick access to funds for any purpose
- No hit to your credit
However, it’s important to note that while merchant cash advances might not have traditional interest rates, they will come with fees and other charges that should be taken into account. Since repayment is based on a percentage of your daily sales, the actual repayment cost may vary from month to month.
What Kind of Businesses Can Use Merchant Cash Advances?
Merchant cash advances are a popular financing solution for small businesses that have a reliable, recurring income stream and require funding to keep operations afloat. This is also an excellent option for businesses in industries such as retail, hospitality, and restaurants. It is also helpful for businesses that require a lot of working capital, such as startups, to help with cash flow.
One type of business that can benefit from merchant advances is a seasonal business. These companies may struggle with cash flow during their off-season, so getting an advance can help to ease any financial burdens and keep operations running smoothly.
How to Get a Merchant Cash Advance
Getting a merchant cash advance is an easy process. Start by filling out Solvent Funding’s loan application, which only takes a few minutes. Next, you will receive offers from our experienced funding specialists, who will walk you through the process and answer any questions. After approval, funds will be available to you in as little as 24 hours.
Start Your Loan Application at Solvent Funding
At Solvent Funding, we go beyond traditional lending qualifications to provide tailored funding solutions to businesses of all sizes. A key benefit of working with Solvent Funding is having access to funding specialists who create customized funding packages that meet the unique needs of your business. In addition to merchant cash advances, we offer short-term business loans, equipment financing, and other funding solutions.
Don’t let a lack of funds hold back your business. Apply for a merchant cash advance today through Solvent Funding. Our application process is simple and secure, and approvals are provided much faster than would be possible with a traditional loan. Contact our experienced team today by calling 877.807.1180 or begin your online loan application to get started.