Can’t Get A Bank Loan? Here’s Why A Merchant Cash Advance Is Right For You

                                                                                         

If you’re the owner of a retail store, restaurant or auto service business, then you know the drill. You need a bank loan in order to expand your store or replace your equipment, but thanks to the impact of the Great Recession, you know you’ll have to jump through hoops to get the funds you need.
You arrive at your local bank branch and ask to take out a bank loan, only to be met with the most outrageous criteria for securing the capital you need. Not only do you need a FICO score of over 740 – you need to prove that you’ve been in the business for a minimum of two years, with records of steadily increasing profits over each business year. You leave the bank, dazed and confused: what kind of business owners can even meet two out of three of the bank’s criteria, let alone all three?
Unfortunately, this scenario is becoming more of a reality for small business owners who can’t get the capital they need to expand their business potential. The Great Recession has caused many banks and lenders to seize and freeze their business loans, which leaves many small business owners with less-than-stellar credit and little collateral feeling the pinch.
So if you can’t get a bank loan, where else can you turn to get the capital you need? If you’ve never heard of a merchant cash advance, then grab a cup of coffee, sit back and get ready to learn why this alternative financing option will give your business the capital boost it needs!
The merchant cash advance industry has been growing exponentially over the past ten years, and there’s a good reason why: to secure a lump sum from a merchant cash advance provider, one only needs to show a strong history of credit card transactions. Since merchant cash advances take a portion of credit card sales, this means that they don’t act in the same way as a traditional loan. Thus, while banks and lenders will look at a weaker credit report and see a risky consumer, merchant cash advance providers only need to see the potential for business growth.
Best of all, payments are extremely flexible, as the monthly payout is based on credit card sales. Therefore, if you have a slower month, you won’t be strained from a fixed payment that could possibly exceed your income.
If you’re ready to realize your dream of owning a Mom and Pop restaurant or expanding your current business inventory, then skip over traditional lending in favor of the most flexible alternative financing option: a merchant cash advance!

About the author:
A Merchant Cash Advance can assist you in making your business dreams a reality. Be if for Restaurant Funding or technology expansion, it can be done, if you know how.

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