Growing companies often require additional capital injections to fund their expansion or additional working capital. Some companies may need more cash to fund a new project that has huge profit potential in the short term. However, it is not always possible to raise cash for all of these business needs.
The traditional method of financing is to ensure that every document is in place and then reviewed. It may take more time to process your application. Finally, it is very likely that your application will be rejected based on weak technical reasons.
Fortunately, there is a good alternative solution that can be used to raise business capital. Merchant cash advances are a simple concept, and depending on your business profile, you can range from $2,500 to $250,000.
Here's how it works. If your business accepts credit card payments and charges more than $5,000 per month from customers who use credit cards, you can expect 100% to 200% of the total monthly credit card to be used as a corporate unsecured cash advance. . Prepaid cash repayments are the most unique thing in this business. A small portion usually accounts for about 10% to 25% of your daily credit card processing, and is used to repay the merchant's cash advance payment.
Merchant cash advances require basic documentation to process your application. They will ask you to provide a copy of your driver's credit card processing statement for the last three months. A copy of the license and invalid checks that they can use to transfer your prepayment. You will of course need to complete a properly signed application form and provide all the details they are asking you to provide.
You don't have to worry about whether a bad credit score prevents you from getting the money you need to meet your business needs. You can get up to $250,000 in approval in just 48 hours and even use it in 72 hours.
This unsecured commercial loan has helped many large and small businesses get the money they need to improve or expand their business. Approved loans do not require any application fees or personal collateral. Unlike traditional loan repayment methods, you don't have to make a fixed payment, which puts an extra burden on you.
Merchant cash advances are an excellent financing option for bad credit corporate loans.