Hello, my name is Rhonda. If you have financial goals, this blog can help you achieve them. A few years ago, I realized that I didn't have a good plan for my future and I wondered if my financial needs would be met after I retired from my job. I immediately started planning for my future by speaking with a financial advisor and I learned a wealth of information at our meetings. By following the recommendations of my advisor and by learning everything I could about finances and money, I now feel very secure about my future. If you need financial help for retirement planning, college savings or even for an emergency fund, you can get sound advice by reading my blog. I believe that by following a few basic strategies, everyone can meet their goals and be financially secure.
Whether your business is looking to expand, or is just a bit shy of the money needed to cover monthly expenses, it's nearly inevitable that your growing company will require emergency funds at some point. If you're currently in this situation, you may be thinking about taking out a business or personal loan to cover the costs. However, there may be an even better option for you to consider: A merchant cash advance. Learning more about the benefits of getting a merchant cash advance can help you see why it's the ideal option for you.
Merchant Cash Advances Have Convenient Repayment Options
One of the main reasons why you should get a merchant cash advance is because it gives you the opportunity to enjoy more convenient repayment options. This is important, since you may find that more traditional repayment plans just don't work for you.
With merchant cash advances, you're essentially put on a pay-as-you-go plan. Each time you complete a point of sale transaction, a stated percentage of the sale is transmitted back to the lender. What this means is that if there comes a month where you're simply not making the money that you need to pay back the advance, you won't have to worry about being penalized. This is much different than a typical business or personal loan, which will have a firm payment due each month, regardless of whether or not you were even able to turn a profit in order to repay the debt.
Merchant Cash Advances Are More Timely
Another reason why you should get a merchant cash advance is because you may be able to obtain it much more quickly than traditional loans. When you're in a pinch and need money in a hurry, a merchant cash advance may be the key that you were looking for.
It can sometimes be an extremely tedious process to get a business loan. Lenders often need to comb over your profit and income statements that date back several years. This can be time consuming and frustrating, especially if you end up not being granted the loan.
You can bypass several steps by getting a cash advance. For many cash advance lenders, all you'll need to do is show that you have made the required amount of sales each month. This speeds things up so you can quickly get the money that you need.
Getting a merchant cash advance could prove to be a very wise decision. Don't wait; contact one of these lenders today, so you can enjoy these benefits and many more.