What Are Merchant Cash Advances?
So what makes a merchant cash advance different than a standard business loan? The answer is a simple one. Also known as working capital loans, these advances are based on your future sales. Our institution purchases a portion of your future sales so that we can invest in your success. It is a fast and easy process that does not require a lot of paperwork. However, it takes some basic information to get the process started, so reach out to us today to start discussing how we can fund your future with a capital loan in Bloomfield.
You might be wondering what it takes to get approved for one of our merchant cash advances. With these types of loans, we are mostly interested in the cash-flow of your business, and not its credit score. That means we want to make sure you are profitable so that we know the advance we give is going to be helpful to growing and advancing your business. It takes about one business day to pre-approve your small or medium-sized business.
When you apply for one of our working capital loans, you will be required to send us four months of credit card statements with an average of at least $10,000 a month in credit card volume. Additionally, merchants must have been in business, and accepted credit cards at the same location with the same owners, for two months or more. Approval does not require you to change your credit card processor.
Furthermore, we are dedicated to providing cutting-edge, personalized service to small business owners. That means you will get to work directly with us to ensure the entire process is to your complete satisfaction.
What makes signing up for a merchant cash advance with us the smartest choice when you require additional income for your business? Firstly, we do not ask you to change your current credit card processing company, which helps you keep your business streamlined.
Secondly, we want your unsecured loan or cash advance to make sense for your small business. To do this, we make sure that our borrowing limit is contingent on a maximum amount that does not exceed 9% of your gross business income. Without building a mountain of debt, this helps you get the money you need.
Contact us to get approved for a merchant cash advance in Livonia, Michigan. Don’t let money get in the way of running a successful business.