If you need quick funding, you might want to consider a small business cash advance or merchant account loan. The advance is simply based on your monthly revenue, and it must be paid back in monthly installments. We’ll be discussing the small business cash advance in greater detail, in today’s article.
A merchant account loan is available only to retailers, and it is paid back a little bit at a time whenever your company processes credit card sales (using your point of sale terminals). The account you have with the credit card processor is called your merchant account, which is the reason for the name.
A small business cash advance is simply a loan that is borrowed for a short period of time to provide immediate funding. They differ from long-term secured loans in that a specific asset does not back them. Typically, the process to obtain them involves demonstrating your company’s monthly revenue by submitting the required accounting documents. It is becoming a common practice to have a certain credit requirement, but this is not as universally as true as it is with longer-term installment loans.
Getting a small business cash advance is easy to do, but expensive. You will be expected to pay the loan back in full, typically within 90 days. This is just as well, since the interest will be in the high double digits, annually.
It can be a reasonable option in circumstances where you borrow for a short amount of time for emergencies, and then repay the amount in full without paying too much interest.
For more information, go to Small Business Cash Advance at http://www.unsecuredbizloan.com/small-business-cash-advance/