5 Reasons why a business cash advance is better than a small business loan.
Quick and Easy Process
One of the best parts about receiving a small business cash advance from Merchant Resources International is the speed of which you can receive your money. From the amount of time it takes to be approved to the amount of time it takes for the money to be funded into your account, we offer speed that the banks just can't provide. But this is not at the expense of diligence and accuracy.
Our application is only two pages long and can be filled out in a short period of time. Once the application is completed and you have sent in documentation of your business' last four months of credit card sales, it only takes us a matter of hours to determine how much money your small business can be advanced. When all of the numbers are set, you can have the money in your account in less than 7 business days.
Bad Credit Ok
Our small business cash advances are not funded based on personal information. Your credit score is not important to us. We are able to provide you with a small business cash advance because we purchase your future credit card sales. Therefore, it doesn't matter to us if you've made a few late credit card payments in your lifetime, because we don't require you to remember to make monthly payments on your small business cash advance.
No Fixed Payments
As previously stated, we don't want to add "remember to make monthly payments" to the long list of things that you must do in order to run your business. Every time a customer swipes a credit card at your business, we deduct a small percentage of that sale and put it towards the repayment of your small business cash advance. Repayment is automatic, hassle free, and best of all, we only get paid when you get paid.
No Collateral
It is often necessary to have collateral (assets that will be taken if the borrower can not pay back the loan) in order to receive a small business loan. Collateral can come in the form of a car, house, stocks, bonds, etc. However, not owning these things can make it difficult, sometimes even impossible to qualify for a bank's small business loan. With us, collateral is unnecessary, opening the doors of opportunity to a countless number of small business owners.
Renewals
Sure we offer, fast funding for your small business with few requirements and easy repayment; but the fun doesn't stop there. We are interested in continuing to provide you with our services. Once 60 percent of your small business cash advance has been paid, you may renew your advance with no additional paperwork required. Simply sign our loan documents and you can have additional funding in your account in 24 hours.