What You Need to Know about Merchant Cash Advances
The future of your business looks bright. However, you’re not sure how you’ll get it there. You’ve just hit upon the perfect reason that you’re a great candidate for a merchant cash advance.
Money. Money. Money. You don’t need song lyrics to recognize the significance cash plays in your business plan. Without it, you might be flat out of luck. How’s that for reality?
Although you might consider a conventional loan, you should also think about the downfalls. For starters, they include:
- A high percentage of business bank loans are refused
- You will need to come up with a fixed payment month after month
- The loan term may go on forever and ever
No doubt all of these reasons suggest that securing a traditional loan doesn’t sound attractive at all. And, did you know? The lender might expect you to put up collateral or make a personal guarantee.
One more thing. When you apply for a conventional loan, you often wait a long time for answers. Do you have time for that?