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Business Lines of Credit
Merchant Cash Advance
We provide funds at he lowest rates in the industry with flexible repayment schedules.
What is a merchant cash advance ?
A merchant cash advance is a lump sum of payment in advance for a percentage share of future gross sales revenue. This repayment is collected by the borrower via the lender’s credit card processor. The lenders’ prime target market consists of those businesses with strong credit card sales. The repayment time schedule and amount varies according to the amount which is borrowed.
#Quick and Easy Cash Loan
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#Email : email@example.com
The difference between a Merchant Advance from Secured Money Solutions and all the other merchant account factors is that we are a direct Merchant Cash Advance Funder and partner Merchant Advance Company. That means we can issue a Merchant Cash Advance immediately with our own underwriting and funding regardless of your credit. We have many programs to secure funds for you no matter what your situation may be. We can also operate as a partner funder or agent funding company when there is another program that can serve your Merchant Cash Advance needs better. That means you don’t have to fit into our guidelines. We fit your request to the appropriate program. We have access to all available Merchant Advance programs across the country to secure funds for any situation at the best rates.
When a small business finds itself in a bit of a financial pinch or needs to access capital quickly, there aren’t many options available. This is one of the advantages of a merchant cash advance. A merchant cash advance provider will provide an approved amount, and the merchant will repay the advance with a percentage of each day’s credit card sales. Interest rates on merchant cash advances are often notoriously high, and determined by a factor rate, essentially a multiplier of the principal advance. For example, if a business is approved for $100,000 with a factor rate of 1.5, the total amount to repay would be $150,000 ($100,000 x 1.5). The daily payment would then be determined by the terms of the advance.
Advantages of merchant cash advance
The advantages of a merchant cash advance are as follows:
- No due date and set payment schedule – this means no regular fixed payments are returned to the lender. Instead, lenders collect a fixed percentage from the borrower’s credit card sales
- Amount of repayment is allowed to differ according to the borrowing business’ cash flow, so they end up paying less in slow economic times
- No need for lengthy credit checks – having a bad credit doesn’t affect approval of cash advance allocation
- Minimal repayment efforts as all payments are conducted electronically. This means less time consumed, as no checks have to be written or invoices to be mailed
- If a business operates without credit cards, all they have to do is to deposit a percentage of their revenues through a pre arranged program.
We at Secured Money Solutions specialize in providing quick, readily accessible funds to small and medium sized business ventures. Secured Money Solutions enjoys a long affiliation with the top money lenders in the market and our high rating with the Better Business Bureau reflects our undying commitment to our work and trustworthiness in the loan market.
It is entirely up to business how it uses the cash advance as Secured Money Solutions place no restrictions in that regard. A business may utilize it as essential working capital, to pay debt, for store refurbishment, for purchasing equipment and facility upgrades or even store relocation. The choice is yours.
We at Secured Money Solutions readily offer merchant cash advances to enable business financing. We have made the whole process very easy, via our online application system. Once you have applied, we will respond promptly to discuss the financing options available for your business.
So don’t waste precious time and apply online now, or call us.
Merchant Cash Advance Repayment Structures
Because an MCA is not a loan and is really an advance based upon your credit card volume, the way you repay the advance and the fees you pay might feel unfamiliar with what you are accustomed to. Most MCA providers debit money from your daily credit card transactions to repay the MCA (though some providers allow for weekly debits instead). If your MCA requires daily debits, there is generally no grace period. You should expect to start making daily payments the day following disbursement of funds.
Additionally, there may be a new term or two you should become familiar with. In addition to terms like periodic payment, daily debit, and payback period, there is something called a holdback. Holdback refers to the percentage of your daily credit card transactions that are debited from your account every day. The holdback percentage is usually between 10% and 20% of your daily receipts and remains fixed until the advance is paid in full.
Borrowers often confuse the holdback with the rate you will pay for the advance. If you want to understand the cost of an MCA, the factor rate is key to evaluating it. Most MCAs, when they express the cost, will use a factor rate. Think of it as more of a calculation rather than an interest rate percentage.
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