Need cash desperately for a small business transaction. Apply for a merchant cash advanceat Pay Point USA and the money can be yours in as little as 48 hours.
With
so many small businesses facing foreclosures and bankruptcy today,
it’s hard to get established banks and lending institutions to offer
small business people a merchant
cash advance. Even
if you have been banking with an institution for a year or two,
today’s credit climate has made it difficult for small businesses to
get the financing they so desperately need. So what is a small
business to do?
Well,
fortunately, there is a solution for small entrepreneurs to apply and
receive a merchant
cash advance . And
it’s extremely easy to qualify too. The source is called Alternate
financing, since they are fast becoming an alternate to big banks and
large lending institutions.
A
merchant cash
advance through an
alternate financier works on a simple principle: They purchase a
percentage of your average monthly credit card sales transactions for
the future, and lend you the money in the form of a merchant
cash advance today.
It’s a simple and straight forward concept.
To
qualify for the alternately financed merchant
cash advance you
obviously need to be processing credit card transactions from your
customers, since that’s the medium that will be used to assess your
qualification for the advance. But you don’t need to have been in
business for 3 or 5 years like the banks would like to see. Alternate
financing works if you have been around for at least 9 months or
more.
Once
you meet these basic criteria, you can qualify for a merchant
cash advance
without an extensive application process. The alternate financer does
not require you to go through credit score verifications, asset
appraisal reviews or a lengthy application processes that most banks
or established lenders normally put you through. You do however need
to provide your credit card statements for the past 3 to 4 months so
that they can establish your average monthly credit card sales.
Alternate
financing institutions can pre-approve you for a merchant
cash advance within
1 hour of your application and necessary documentation being
submitted. And the funds can usually be in your hands in less than 3
days. There are no restrictions on how you use the money either.
The amount of
funding that you are eligible for depends on the average value of
credit card transactions you processed over the past 3 to 4 months.
The minimum value is approximately $4,000 per month, on average.
Depending on the value of your average transactions, you could
qualify for advances to the maximum of $300
,000.
Your
merchant cash
advance will
automatically be repaid as a percent of each subsequent credit card
transaction that’s processed against your account. Your credit card
processor will automatically deduct the amount on your behalf. You
will have full visibility of every deduction through secure online
tools.
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