A business cash advance is an alternative way of borrowing the funds that you need in order to keep your business ticking over from day to day. If traditional lenders like banks have turned down your applications for loans, don't fret, because there's every chance that we'll approve you for a merchant cash advance.
What Is a Business Cash Advance?
A business cash advance is just another form of finance available to business owners – like a business loan. Instead of making you jump through lots of hoops and making you conform to all kinds of criteria, however, a cash advance is relatively easy to obtain. At Business Merchant Funding (BMF) we offer business cash advances of up to $1 million – which is more than enough to stabilize any business.
One of the biggest advantages to taking out a cash advance is the fact that repayments are not fixed. You won't pay X amount until the debt is settled, instead you'll pay a different amount each month, which is calculated as a set percentage of your sales. This means that your business will never be crippled with high repayment fees – because they'll always be in proportion with your actual sales.The only conditions of applying for a business cash advance are that your business must be registered in the United States, and it must also process credit card payments. If your monthly credit card payments exceed $2,500 there's a good chance that you'll be approved for our alternative business financing.
Using The Funds
You choose what the funds are spent on. If you need to settle up some invoices with some suppliers, then that's fine – otherwise you might want to use the funds to invest in new equipment or tools – you might want to have existing equipment repaired. You can use the funds in any way you see fit in order to expand your business further.We don't require you to hand over a detailed business plan or two years of tax returns. We won't automatically decline your application if your credit history is poor either. What we will do however is endeavor to reply to your application within 24 hours of receiving it, and if it is successful we'll do our best to get the funds to you within 24 hours. If you think a business cash advance is something that your business would benefit from, ensure you contact us today.