Using a Merchant Cash Advance to Grow Your Business
Taking advantage of financing is a great way to boost your business and increase success. However, many small business owners do not like the risk of accumulating debt that comes with traditional loans. This is the primary reason a merchant cash advance is so appealing. This type of financing is more flexible, allowing it to be repaid easier. The benefits of a cash advance include:
- Simpler qualification requirements
- Shorter approval time
- No closing costs
- Less paperwork
- No fees upfront
- No required collateral
SMP Legacy Funding is committed to helping your business succeed. If you think you would benefit from a cash advance, give us a call and speak with our financial experts to learn more about it.
How it Works
When you are approved for a merchant cash advance, you immediately receive working capital which you can quickly use to improve your business. Instead of making preset monthly payments, a small percent is deducted from your credit card sales. This means that less of your profits are used for your loan during slower months and more is used during heavier months. This makes cash advances an especially beneficial option for season businesses. This financing option is appealing because it is difficult to be overwhelmed with payments. Contact us to learn about whether you are eligible for a merchant cash advance.