ALTERNATIVE BUSINESS FINANCING OPTIONS
Many business owners experience challenges getting cost effective financing because of prior, personal credit issues. Lower credit scores sometimes have little to do with the credit worthiness of the merchant but yet create insurmountable obstacles to bank financing. Direct lending, Merchant Cash Advance and other methods of alternative business financing all changed the game for businesses with 24/7 cash advance and same day cash advance products that provide immediate, unsecured liquidity for all business expenses.
Best Cash Advance Apps
Your credit information is still asked for during the application process however, using a loan calculator or cash advance app it is much easier to know in advance how your businesses profile stacks up. Unlike with a traditional bank loan, past credit history or poor scores do not mean that you can’t get pre-approval for the fast cash advance.
Credit information is used to determine cash advance rates. Paying back an MCA isn’t like an interest rate payment; when it comes to Merchant cash advance, you’re paying back a pre purchased amount of revenues. While it might mean seem a higher rate it’s actually cheaper than longer loans but they need to be aid more quickly
What is a Cash Advance?
MCA (Merchant Cash Advance) is an immediate, unsecured infusion of cash into the business account sometimes as quickly as 48 hours from application. Many merchants who have seen their commercial loan applications declined rely on this critically important source of working capital. Commercial loan rates in 2018 jumped higher adding considerable burden to business debt profile.