Who can Use a Merchant Cash Advance and Why?

There are many different types of loans and cash advances out there these days, but who are merchant cash advances for, who can benefit the most, and what can be done with them? These are some of the questions circulating the industry as there are more and more merchant cash advance providers that are offering better rates and better terms. Understanding who benefits and who should use them involves knowing what they are and what they can be used for to fully grasp who gets the most from these advances. Sure, they aren’t for everybody, but for the businesses that have been using them, they have proven quite effective at providing the funding needed in an adequate time frame and with a decent payment in return.

Who is Business Advances Intended for?
A merchant cash advance, or business advance is a type of working capital funding for small businesses, aimed mostly at those in the retail, restaurant, or similar industries. These small businesses may have poor credit due to past economic shortfalls due to client defaulting and what not, but are still bringing in an adequate income through credit card transactions. Typically, merchant cash advances are for small businesses with a credit score of less than 740 but no less than around 520. This provides assistance for those with poor credit, but ensures the credit isn’t so poor there is no chance of repayment.

Who can benefit the Most from Merchant Cash Advances?
For those small businesses that have poor credit and aren’t able to get bank funding or can get bank funding but with too many stipulations, terms, fees, hidden costs, and extremely high interest, merchant cash advances could be quite beneficial. These merchant cash advances offer quick funding, many times approved within 48 hours or up to 7 days, and with minimal catch. There aren’t interest fees that will begin to mount extremely high and there are no hidden costs. Business cash advances can provide the working capital needed immediately just based on future credit card sales.
Merchant cash advances can be used for growing a business larger, adding new equipment, increasing service provision, or even just working capital to continue efficient operation. These advances could by computers for an office or seating and tables for a restaurant, even a new clothing line for a retail outlet. There are countless options and endless potential, and an easy pay back that provides many small businesses with the right answer for funding. For more information visit: http://www.merchantcash.com