Many businesses are looking for alternative sources for working capital. Alternative loans are the most widely used business called merchant cash advance (or the face of a credit card). Type of fund has helped hundreds of small businesses and franchises get the working capital they need to function and grow. For more information about merchant cash advance loans then visit this website http://royalefunding.com/cannabis-business-loans-virginia/.
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Top 3 Reasons To Get a Merchant Cash Advance are given below:-
1. High approval rate:
Merchant loans have approval levels that are several times higher than a business loan. In fact, banks only approve about 10% of applicants, while 90% of those who apply for a merchant cash advance is approved.
2. Get your money fast:
Do you remember how long it took the bank to finance your last loan? I can take anywhere from several weeks to several months or more. It usually falls somewhere in the middle.
A merchant loan can get money into your account in less than a week after receiving your documents. That is a fraction of the time it takes a bank.
3. The collateral or personal guarantee is not required:
Nearly all banks require collateral or personal guarantee as a condition for their business loans. What happens if your business goes under and you can not pay back the loan? They go after your personal assets.
A merchant loan provider never asks for any collateral. They work closely with the business to determine the amount of down payment you will be able to pay back with the least amount of strain on your business.