What Is Merchant Cash Advance ?
A merchant cash advance was originally structured, as a lump-sum payment to a business in exchange for an agreed-upon percentage of future credit and/or debit card sales.The term is now commonly used to describe a variety of small businesses financing options characterized by short payment terms (generally under 24 months) and small regular payments (typically paid each business day) as opposed to the larger monthly payments and longer payment terms associated with traditional bank loans. The term “merchant cash advance” may be used to describe purchases of future credit card sales receivables .
A Merchant Cash Advance is right for you if
Your business accepts credit cards as a form of payment from customers
You don’t want to pay monthly minimums
Your sales are flexible and so you want to pay as you go
You’re looking for a fast and simple financing solution.
Merchant Cash Advance Uses
Hiring new employees
Improving cash flow
Advertising and marketing promotions
Renovations and expansion