What is a Merchant Cash Advance?
A merchant cash advance is a fast, affordable, and simple way for a healthy business to access money by selling an agreed upon amount of its future banking receivables. It can be a very attractive financing option, as it requires a minimal amount of time and documentation.
Because you use a percentage of your daily sales to pay back your cash advance; you pay back less on slow days and more when things pick up. You never have to write a check and there are never any late fees.
Business Cash Advance vs. Bank Loans
- Collateral is not required
- You are funded in days – not weeks
- Flexible payback structure
- No personal guarantee
- No reporting to credit agencies