Merchant Cash Advance – OverFund Capital
Merchant Cash Advance Financing By OverFund Capital
Many small businesses will want a cash advance to pay their employees, expand their inventory, buy new equipment, or expand or rebuild their facilities. A business cash advance, also known as a merchant cash advance, is a quick way to get cash.
Merchant advance loans provide cash or capital to a company in exchange for a percentage or portion of future credit sales. Rather than having a specific payment schedule and interest rate like traditional loans, lenders recover their cash by collecting a percentage of the borrowing company’s total credit card sales each month.
Do you require a source of working capital to expand your business? OverFund Capital may have the perfect solution for you if you rely on credit card sales: a merchant cash advance. This unique method of financing allows you to borrow money from your future self while also accepting credit cards. So give us a call today, and we’ll get you funded quickly!
For Quick Funding, Contact OverFund Capital
At 1-516-519-2226 Now!
The Benefits Of Merchant Cash Advance Loans
To Small Businesses
Here are some of the benefits of merchant cash advance loans to small businesses:
1. Little To No Paperwork
Unlike a traditional loan, a business cash advance can often be applied online, dramatically lowering the number of paperwork. In addition, because there are fewer long documents to fill out and evaluate, the application procedure is usually more straightforward. The response time is often considerably faster than with traditional loans.
2. There Is No Need For Any Collateral
Obtaining a traditional loan necessitates more security, either in property or goods, than most small firms can provide. The loan approval for a merchant cash advance is mainly based on historical credit card transactions. This form of loan will be suitable for many businesses with high sales.
3. Quick Funding
Small enterprises may find themselves in a scenario where they want fast financing. Traditional loans are inconvenient in these instances because of the time it takes to get approved. However, a borrower can typically obtain money from a business advance in less than one day due to the reduced paperwork and internet transaction.
4. High Rates Of Approval
For a business that lacks the market capital and name recognition to acquire the trust of a typical bank or lending organization, being accepted for a traditional loan can be challenging. Merchant cash advance companies will lend borrowers a significant sum of money in exchange for future sales, allowing them to approve loans with minimal regard for poor or bad credit scores. It is especially advantageous for new or small organizations to have established a good credit history or a relationship with a lending institution.
5. Resolve Cash Flow Issues In The Short Term
Small businesses will face short-term cash flow concerns at some point, posing serious problems for the organization. It could be due to a late-paying client or the requirement to put money up in advance for merchandise. A merchant cash advance loan can assist small businesses to get the cash they need to deal with short-term cash flow problems, particularly when the owner knows where the money is coming from and is just waiting for it to arrive.
6. Avoids Turning Down Work Due To A Lack Of Funds
Many small businesses decline work because they lack the funds to fund new projects. For example, suppose a massive undertaking for a well-established organization pays only after the project completion. In that case, your company may not be able to retain personnel working on it until it settles. As a result, businesses may remain small.
7. Get Cash You Need Even With Bad Credit
If you have bad credit, it might be challenging to obtain business finance. Fortunately, because repayment is related to your credit card sales, merchant cash advance loans focus less on your credit and have higher acceptance rates. As a result, it is an excellent choice for business owners with less-than-ideal credit.
Frequently Asked Questions
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What Is A Merchant Cash Advance?
A Merchant Cash Advance is a type of loan that allows you to borrow money from a business. A merchant cash advance enables your company to trade future earnings for cash now. It works by giving you a large sum of money which you then repay with a percentage of your daily sales.
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Is A Merchant Cash Advance Ideal For Your Business?
Yes, merchant cash advances are a viable choice for small business owners that accept payments in cash, checks, or credit cards (rather than invoices), have a high sales volume, require funds urgently, or may not be eligible for a regular bank loan.
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Why Do Borrowers Choose A Merchant Cash Advance?
Even though merchant cash advances are a last choice, they do have some advantages:
- Quick Funding
You can usually acquire an MCA in less than 24 hours and with little to no paperwork. Providers will examine credit card receipts to see if you can repay the debt.
- No Collateral
Because MCAs are unsecured financial products, no collateral is required. You won’t have to give up any personal or commercial assets as a result. In addition, you won’t have to worry about paying it back if the company goes out of business.
- When sales are down, so are your payments.
When your payback plan is on a percentage of your daily credit card sales, it changes according to how well or poorly your business is doing.
The Best Merchant Cash Advance Solutions In New York
You may decide to use a business cash advance because your company requires funds urgently; nevertheless, you should carefully select your lender. Consider the lender’s credibility when choosing a lender for a merchant cash advance. Find a reputable organization that will collaborate with you as a partner.
Do you require funds for your business right now? Do you take credit cards as a form of payment from your clients? With a merchant cash advance, OverFund Capital may be able to assist. This one-of-a-kind type of financing allows you to invest in your business without taking on debt. Instead, we credit your merchant account with funds.
Get in touch with OverFund Capital immediately to determine if a merchant cash advance is appropriate for you.
We Also Offer Purchase Order Financing
If your company sells prefabricated or pre-sold goods, you’ll require dependable funding for your transactions. At OverFund Capital, we provide purchase order financing to distributors, resellers, and producers in New York. As a result, you can avoid depleting cash reserves or declining orders due to cash flow issues with purchase order financing.
