Without an effective cash flow, you cannot hope to achieve anything with your business. You’d be just losing money. For small and medium-sized businesses, cash flow is everything. It is the lifeblood of business operations. You need cash to pay off your suppliers and supervising your inventory. If for any reason you have begun to experience difficulties in your business’ cash flow, don’t worry because this new and already popular cash flow solution can be of considerable use to you.
Introducing Merchant Cash Advances
A merchant cash advance provides struggling businesses a legitimate and alternative source of finance. It is also designed for entrepreneurs who, because of a bad credit history or rating, can’t secure a traditional bank loan or are being offered loans on a ridiculously high rate of interest. It is important to understand here that a MCA is not a bank loan. Merchant cash advance businesses basically purchase a part of a specific business’s future sales on credit card, that too, at a discounted rate.
Businesses use the quick financing to restore normality to their operations while the MCA providers enjoy earning their due portion of sales they bought from the business every month.
Some Major Benefits of MCAs
No Collateral Required
A MCA is perhaps the safest form of a loan you could ask for. Why? Because MCA providers don’t require any collateral from you, unlike traditional bank loans where you have to give something to the bank in the case where you can’t pay the loan back. An MCA is a quick way of improving your cash flow and you risk nothing at all, that’s the beauty of it.
A Simplified Application Process
You’d be surprised to know that applying for a merchant cash advance is as easy as pie. It is painless, nothing you would be overly confused about. What happens is merchant cash advance providers assess your business’ yearly financial statements and also your tax returns and your future business expansion plans. They give out cash advance based on these factors.
An Overly Quick Way to Get Cash
Because a MCA is not a bank loan and it doesn’t involve grueling paperwork process, the MCA offers a pretty quick turnaround. While traditional loans can take somewhere from several weeks to months to be processed and approved a MCA can be ready available to you within just a week after you’ve given the provider your application.
So, go for a merchant cash advance and enjoy the benefits of quick cash flow.