For small businesses, working capital is consistently needed in order to strengthen and grow your company. Between meeting leasing terms, stocking the store, paying employees, and repairing necessary equipment, running a business is a constant expense that needs funding in order to succeed.
Many business owners find themselves being turned away from the banks, unable to meet the firm guidelines needed to be approved for a loan. Fortunately, a merchant cash advance provides a highly convenient funding alternative so you can get the money your business needs to grow.
The Benefits of Cash Advance Business Funding Solutions
A merchant cash advance can provide innumerable benefits to small business owners. Some of the main benefits include:
Indispensable emergency cash: Given that merchant cash advances are so easy and quick to obtain, with average approval times being 48 hours, they serve as an indispensable option for emergency money. When a pipe suddenly bursts or the delivery vehicle breaks down, you have a reliable funding solution at your fingertips.
Flexibility with spending: Unlike other funding options, a business cash advance offers no restrictions regarding how the money can be spent. Whether you wish to put it towards marketing costs, inventory, repairs, or furnishings, you can freely spend it as you wish without needing to provide documentation to the agency.
Flexible repayment terms: The size of the advance is contingent on your income, and lending agencies are willing to negotiate repayment terms in conjunction with your earnings, creating easy and flexible repayment terms that you don’t have to stress over.
Easy to qualify: Merchant cash advances offer minimal qualification requirements, making them one of the most accessible solutions for attaining needed funding. Regardless of your credit score or your previous financial history, you can access the money you need.
Easy to apply: Many shy away from applying for funding due to the daunting application processes. Fortunately, with merchant cash advance business funding solutions, the application consists of just a few questions, and you’ll receive your money in as little as 24 hours.
How to Qualify for a Merchant Cash Advance
This quick business funding option offers minimal qualification requirements, making it a highly accessible funding outlet for businesses at all stages of growth. The size of the advance depends on your current income, with sizes ranging from as little as $2,000 to as much as $100,000. While eligibility varies among agencies, the core requirements are:
Proof of U.S. citizenship.
A stable job or income.
A monthly income of at least $1,000 per month.
Must be at least 18 years old.
As a small business, capital is required on a continued basis in order to perpetually grow and expand your company. For many business owners, accessing traditional funding options, like commercial bank loans, can be challenging given the strict eligibility requirements they entail.
Business cash advances provide convenient access to money no matter your credit history, enabling you to access emergency money as needed or cover your routine expenses. Take the next step in your business career by obtaining the money you need to flourish. For all your working capital needs, contact Credibly.