There are probably times when you experience downtime in running your business. Cash flow could have been tight. Some collectible payments could have taken long to materialize. There could have been a time you badly needed funding to upgrade your equipment or hire a new staff. You could have applied for a bank loan but hesitated because traditional loans take forever to process. You know very well that almost all of the traditional lenders have a high decline rate. Instead of sticking to the business rot you are in, you can try to qualify for alternative funding. Get your business up and running again. If your business is in the state of California, you can apply for a Merchant Cash Advance in California.
What is a Merchant Cash Advance?
A merchant cash advance is a flexible financing option that allows business owners or merchants to receive a lump sum of cash to fund their business during a downtime.
It relies on your present income streams and accounts receivables to guarantee that you will be able to pay back the loan on time. It is easier to obtain a merchant cash advance than applying for a bank loan. Even if you do not have a good credit standing to your name, you may still qualify for small business cash advance loans.
Once you have been approved for a merchant cash advance, you begin paying back the loan with a set percentage of your daily sales and credit card transactions. When your business picks up you can pay the money back without the hassle and stress. You only pay the cash advance when you get paid in your business.
How does a Merchant Cash Advance Service work?
Merchant cash advance is available to all business owners and entrepreneurs. A merchant cash advance service determines the business owner’s needs and how much money he would qualify.
It is usually based on his present and past sales records. Business cash advance lenders will examine your comprehensive report of your overall income and credit card sales. They will determine future projections of your sales and your ability to pay off the cash advance with interest and on time.
You can use a merchant cash advance to fund your next business project, upgrade in equipment, and launch a startup. You can also use the cash advance to expand your business by hiring new employees. When you provide the lenders with a complete and comprehensive income report, you are increasing the chances of qualifying for the loan.
How Much Money Can I Borrow and How Long Will It Take To Get Approval?
Some business cash advance lenders will release up to $250,000 in less than 24 to 48 hours from the time of loan application. You can request anywhere from 50% to more than 250% of the amount of your business’ projected future sales.
They will examine your past predictions and overall annual revenues and will decide from there. Looking for a fast application and approval loan? With Fast Business Loan, you can submit your online application here and get approval in 24 hours! Call our hotline (866) 277-2907 and talk to our loan specialist regarding any of your loan queries. Call now for a faster and smoother loan application process.
You need to have a strategy in running your business. When downtime hits you, you must have a backup plan to sustain the operation. If you are on the verge of expansion, you must also have the necessary funding to propel growth opportunities.
You need to act fast, adapt quickly and resolve the matters in less time. Opportunities come quickly and disappear immediately when you’re not prepared to meet head-on. Partnering with Fast Business Financial allows you to weather through tough times and assist in your business growth.
You can never go wrong in choosing us to be your partner merchant cash advance in California.