Need a Synonym for ¨cash¨ for your business? Do you dream of expanding, or are you just trying to get out of the hole? Well there is a creative way of finding the financing you need, especially if you have already tried traditional loans and been turned down and that business finance solution is through a cash advance merchant loan. We all know that the world has been built by entrepreneurs, and yet we are the ones that become stressed with trying to find the right business finance solutions. Traditional loans are usually not the option, business loans are more often than not turned down. But… if you have credit card sales through your business, and sell approximately $2,500 a month, then you might qualify for a merchant cash advance.

What makes the Merchant Cash Advance Different?

This is a viable business finance solution because you get the cash you need for your business without all the hassles you go through with traditional loans and the lender is assured of his loan because he is paid from a percentage taken from your credit card sales.
So, even when you have poor credit, and can’t turn anywhere for a loan, you can turn to a merchant cash advance. There is an added benefit to this type of loan that is ¨priceless¨ to a business owner and that is the fact that these loans are processed quickly. In as little as ten days you can have the money you need.
With all the benefits that a merchant cash advance gives, no wonder this type of business finance solution is growing so quickly.

The Disadvantages of the Merchant Cash Advance

There are a few disadvantages to this type of loan, but the advantages far outweigh the disadvantages. This type of business finance solution comes at a higher cost than traditional loans, and the terms of the loans are much shorter, lasting not much longer than a year at most.
The payment of the loan is taken on a daily basis from the credit card sales you do in your business. The more credit card sales you have the more you pay.

Even So…

Even at a higher cost and even though the payments are taken from your credit card sales, these loans can be a life saver because you can get the financial help you need quickly. In as little as two weeks you can have the money sitting in your account.

How Much Do You Pay Back?

The amount will vary depending on the lender and the amount you have requested, but lets say you ask for a $10,000 loan. In some cases the total amount you will pay back will be about $12000 and in other cases you may pay back as much as $14,000.
In a way it still seems worth it, if you get the working capital you need for a few months. This will allow you to expand, get the equipment you need and handle the new orders that come in.