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Merchant Cash Advance
In small business loans and financing, you will run into multiple options that you may qualify for. Itu2019s important to know which of those programs is geared toward what your business needs financially. One of those options is a business line of credit. Unlike a loan for small business with a term line, which provides a lump sum upfront, business lines of credit are more flexible. They work similarly to a business credit card in that you have a pool of funds that you can draw on as you need up to your credit sum limit.
This product usually has a principal amount and interest that accrues, but you are only responsible for paying interest on the current balance once payments are due. These rates and costs vary depending on the small business borroweru2019s credit and qualifications.
Both banks and online business lenders offer this product. However, banks have tighter qualifications than online lenders. Online lenders have better approval rates with less stringent qualifications, but charge higher rates than banks because they take on greater risks.
If youu2019re interested in a business line of credit, Axad Capital can help. We offer a wide variety of trusted alternative funding options for small businesses throughout the country. Weu2019ve helped countless business owners get the funding options they need, whether itu2019s through a line of credit or various other business loans. Whether youu2019re worried about annual revenue, time in business, or credit history u2014 Axad Capital can help.
Merchant cash advances are a great way to receive cash flow fast, without needing to fuss around with banks or slow lenders. Furthermore, business loans are tough codes to crack without the right credit score. The system can be tedious and eventually devastating for small businesses that need cash advances quick. With Axad Capital, youu2019re able to speed up the process with alternative finance options that work for you.Weu2019re here to partner with your business and help you navigate the challenging financial roadmap. Choosing between the various cash advance lenders can be a nightmare. However, weu2019re all about empowering businesses like yours with premiere merchant cash advance services. For companies with fantastic sales projections, a merchant cash advance provides a friendly avenue toward success.
For companies looking for cash advances quick and with simple application processes u2014 Axad has you covered. Weu2019ve been a trusted lender for countless business owners. With no term limit cash advances that you can receive sometimes in as little as 24 hours regardless of your credit score u2014 thereu2019s simply no better method available.
How Do Merchant Cash Advance Work
A merchant cash advance enables you to receive the funding you need fast. Most business loans have roadblocks or long waiting periods that prevent owners like you from receiving the cash you need. However, here at Axad Capital, we provide unique avenues toward capital for business owners like you. If youu2019ve spent too long waiting around for traditional loan methods or are worried you may be denied u2014 a merchant cash advance can help. An MCA works by allowing businesses the ability to leverage their future credit card or debit card sales in exchange for instant capital.
nThis repayment method flexible and works with you instead of against you. Itu2019s attached to your future sales, making it perfect for most business owners who need a cash advance fast. The future payments fluctuate until the cash advance terms have been met, so the amount taken out depends on your company sales. This factor rate is typically around 1.1 to 1.5 percent. Give yourself some peace of mind and make your payment on your own terms. So, if you have slow sales, donu2019t worry. You donu2019t need to pay a fixed amount that day and can rest easy with your merchant cash advance. However, because this product does not have a fixed term, there is no certain timeframe of repayment.
nDue to this unique repayment process, approval qualifications through Axad Capital are easier than traditional business loan financing
nTo qualify, business owners must have:
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- Their credit score run. Although due to the repayment terms, merchant cash advances through Axad Capital can be approved for credit scores that are Mid-Prime to SubPrime, including scores as low as 500. n
- A minimum of 6 months in business with a record of revenue for those months. n
- Business bank statements, although this loan allows for lower average daily balances in your business bank statements and also allows for some Overdrafts/NSFs in your statements. n