The Merchant Cash Advance Advantage
By: Ryan Attelle
A Merchant Cash Advance is a great options for almost any business, especially those looking to grow and expand but are unable to do so due to lack of money. AllOptions is one of the best ways to get connected with those who are able to give you cash based on a percentage of future credit card sales
Many businesses do not qualify for the usual bank loans in which case they often turn to Merchant Cash Advances. Many argue that a merchant cash advance can be quite expensive compared to a loan, but there are ways to find the best merchant cash advance rates out there. The percentage range for merchant cash advances can range from 1% to 100% so it is important to do your research. In general this number ranges from 5% to 10%. You can start by signing up for merchant cash advance quotes. These are not considered loans because businesses are really selling a percentage of future credit card sales. For this reason merchant cash advance companies are not bound by the same percentage rate laws as lenders are, making shopping around of utmost importance.
Even though merchant cash advances can be some what expensive there are some major benefits to receiving one. The most prevalent of these advantages is that the repayment of the advance is based on credit card sales, and fluctuates to that effect. Unlike a conventional loan where even if you have bad sales one month the same amount is always due. In addition to that many enjoy how easy it is to apply for a merchant cash advance. With this comes far less hassles from banks and such.
An AllOptions spokes person further explains“ Lets say a business sells $25,000 of a portion of its future credit card sales. In return they get an immediate $20,000 payment from a finance company in one lump sum. The finance company then gradually collects its share (usually ranging from 5-10%). They take this percentage from every credit and debit card sales until $25,000 has been collected in full. This is a great, simple hassle free way for businesses that do qualify for loans, or businesses with fluctuating sales to get the money they need.”
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