Merchant Cash Advance
One of the greatest challenges of running a small business is securing capital. It can seem like no one wants to lend you money when you actually need it. Fortunately, Harvey Business Group can help. Many small business owners like our merchant cash advance option. This is a great way to get fast funding for your business that accepts credit card payments.
How a Merchant Cash Advance Works
If you accept Visa, MasterCard, American Express or any other type of credit card, you may be able to receive financing through your merchant account. This is not a loan but an advance on your future sales. It has more flexible requirements than a bank loan. Thus, you can potentially get money even if you have been turned down elsewhere. You simply need to keep selling to repay the loan from your merchant account.
The Benefits
This can be a good option for many businesses. These are some of the benefits:
- Fast funding
- Minimal paperwork needed
- Funds can be used for any business need
- Payback is simple through automatic withdrawals from your merchant account
- No collateral needed
- Low fees and no equity sales