Merchant Cash Advance
A Merchant Cash Advance is a great alternative to traditional small business financing. An alternative to a small business loan, you can qualify for a merchant cash advance against your future credit card transactions of up to $1 Million per business location. No home based and no start ups. Must be at least 12 months in business. By purchasing a portion of your businesses future credit card sales at a discount, an MCA loan provides cash now for your future sales. The repayment is simple, we take a small portion of your future credit card sales as repayment.
Merchant Cash Advances from $5,000 to $1,000,000
Been in business for at least 6 months
Not in active Bankruptcy
Minimum $5,000 a month in credit card sales
Merchant Cash Advances
An alternative to a small business loan, you can qualify for a merchant cash advance against your future credit card transactions of up to $1 Million per business location.
These days, many people have decided to go into business. Lots of business ventures are available like investing in restaurants. You could start such a venture using money that you've gotten from various sources. One great source is utilizing merchant cash advance nyc companies to obtain restaurant finance. At times, raising the necessary amount of money to start this kind of business might not be possible.
Merchant cash advance New York may provide restaurant finance to allow the entrepreneur refurbish or extend an existing restaurant. It could also be offered to open new branches of the company. Merchant cash advance is a great alternative source of financing for small scale entrepreneurs who can unable to obtain loans from commercial banks because of a number numerous reasons. Individuals with a low credit rating can, for example, benefit from this kind of financiers.
These companies charge a fair and an affordable interest rate on the money advanced. Applying for funding from MCA is efficient and fast at ensure that the client carries on with his business quickly. The borrower is likely to fill out some application forms that might be easily done online. After accepting the request, the lender and borrower agree on the repayment terms. This is a kind of lending that is based on future credit\/debit card sales from the business.
The lender therefore reimburses himself from the daily debit\/credit card sales of the business till full repayment of the cash advanced. One doesn't require to show any collateral as security before the advance is awarded. All that's required is the monthly credit card returns of the company and the time length in business. This is as opposed to other commercial loan providers that demand a lot of info including financial statements, tax returns and business plans. Entrepreneurs enjoy numerous advantages when they get funding from this kind of firms. The bureaucracy and paperwork is minimal which makes the process of getting an advance faster.
Merchant business cash advance in New York is very simple and quite easy to accomplish for those that need funding right now. Merchant cash advance new York funding businesses are dedicated to making the process itself somewhat simple and it is easy to apply online in many cases. If your business accepts credit card payments from consumers and enjoys a specific amount of revenue every month on a regular basis, it is very likely that your business will qualify for this type of cash advance. The loan is based on future projected credit card sales, meaning that your revenue is the collateral against the small-business loan.