Reasons to Get a Merchant Cash Advance

by | Sep 2, 2020 | Loan Services

Every small-sized business and medium-sized business has cash flow as a crucial element that has to be considered every single time. Cash is actually vital since it’s required for business growth, keeping inventory, and paying suppliers. It is extremely clear that the flow of cash is more vital than ever as the recession hit.  

A company that requires funding would have access to various aids. One of the most popular ones is the merchant cash advance. It’s been utilized by various businesses to get out of difficult situations.  

What’s a Merchant Cash Advance 

The merchant cash advance offers a substitute business source of funding that the business can utilize when they lack credit rating or collateral. Unlike a traditional loan, a merchant cash advance means purchasing a portion of the future business credit card sales for a particular discount. Whenever the contract is signed, the business obtains a lump amount. A contract is vital to avoid merchant cash advance legal issues. In return, the lender has the right to get a portion of the business’ credit card sales each month until it reaches the contracted amount.  

Benefits of Merchant Cash Advance 

  • Collections Based on Revenue 

A huge issue with commercial bank loans is that the business will have problems making the payments every month when sales aren’t made. This isn’t an issue with the merchant cash advance because repayment only occurs whenever the business makes money.  

  • Extremely High Approval Rate 

It immediately becomes clear that the merchant cash advance has the biggest approval rate when you compare the approval rates of a traditional commercial bank loan and the merchant cash advance. The truth is that the advances are denied rarely. Usually, negotiations are started whenever they notice some issues.  

  • Immediate Access to Cash 

There aren’t many documents that are required. Thus, the turnaround of the merchant cash advance is extremely fast. A traditional bank loan could even take several weeks until it is approved. On the other hand, the merchant cash advance funding is typically available within a week. This is especially vital if you need immediate funding.  

  • Fast Applications and Collections 

Funding will always be extremely quick. In addition to that, the process is direct. A commercial lender will examine the current business plans, financial statements, and tax returns. Typically, providers will consider 2 primary aspects. The monthly returns through credit cards and the length of time business. For instance, getting accepted is almost always certain if your credit card sales are over $6,000. 

  • No Need for Credit or Collateral 

The merchant cash advance will be a pretty safe approach to obtain funding. Traditional loans can influence credit ratings. However, the merchant cash advance will vary on future sales. Because of this, it isn’t present on any credit report. It isn’t a risk to lose the collateral. It does not matter what happens with the business. 

Though the traditional loan is one popular funding source, the merchant cash advance will be preferred on several occasions because of the benefits that we have listed above.  

Why You Need to Invest for Bathroom Renovations?

by | Sep 2, 2020 | Bathroom Remodel

Others would not think the importance of having a good bathroom at home but there are some other people who would want to secure that they are going to have the best place where they can get a good shower and to relax while giving themselves a good bath. It is common for us to dream of this one and sometimes we can come and see something from the magazine and we are thinking that we want this one as well and we wanted to make sure that we are going to have them at home or else it will be very horrible not having this one there. The only problem is that we need some money in order to make this one come true and we need a concrete plan where we can ensure that this one will last for a longer time and we can manage to have a good contractor to help us.  

You can get a Spokane general contractor to assess all the possible changes that you want to make in your home and this could be very good when it comes to helping you in many ways. It would not always be with the bathroom but they could give you some ideas about what you need to do with the other parts of the house and that includes that kitchen and the bedroom as well. If you wanted to do this one very soon, then you need to consider calling all the people there that you know and ask them about the right person to do it for you and this could be a great help not only when it comes to the part that they need to choose the best materials but they can guarantee you of the best only and no more.  

Some people would want to invest with the bathroom as the family is changing and you have some additional members in your family so you need to consider about your babies and toddler as well. They need proper guidance and you need to help them when it comes to the possibility that you are teaching them how to use the toilet and many more things to consider.  

Another good thing is that you are giving them the right value like any other parts and rooms in the house as you need to make them feel that they are also very important. It is nice that you can give this room some efficiency and make it more modernized so that it would look good and when you sell the house in the future, it adds the best deal with you.  

Of course, you want this room to be safe for everyone and make sure that the flooring is not that slippery or else there will be a huge problem there. At the same time, it will repair some of the hidden damages there that you could not see and have so it is very nice that you can consider this one very soon.