Payday Loans Online Direct Lenders Only A Merchant Cash Advance Is Much Faster Than A Bank Loan

What happens when your business is short on funds and you need working capital in a hurry?

It could be for any number of reasons;

Generally speaking; a bank loan can take anywhere from few weeks up to a few months. Business loans often require a lengthy application process with piles of paperwork and long intrusive applications. If you've ever applied for a business small loans with no credit checks before you will understand it when I refer to the process as "jumping through hoops".

Sometimes, by the time your business loan is approved, the business opportunity has already come and gone or you have gotten yourself into deep financial trouble that the bad credit payday loan direct lenders only could have helped you avoid.

Bank loans and bad credit

Bank loans are one of the best ways to secure financing for your business. They are less expensive than most other forms of financing and most of the larger financial institutions have built a solid reputation of dependability and trust. If your credit is good and there are no eminent financial problems, this may be your best approach.

But what happens when your credit is less than perfect?

Whether you can get a bank loan or not with less than perfect credit depends a lot on your personal circumstances. How bad your credit history is, what types of things are on your credit report and whether or not you have enough collateral are all determining factors as to whether or not you can get a business and lenders from the bank.

An alternative to bank loans

Being late on your financial obligations can have an adverse effect on your credit as well as your business. It is important to take care of these things right away. Having a bad credit score can cost your business a lot of money in the long run.

What is a merchant cash advance?

A big difference is that while banks are publicly traded investment firms, cash advance providers are private investors. What they do is purchase a portion of your future credit card at a discounted rate. It is paid back by automatically taking a small percentage of your daily credit card sales until the balance is paid off. This is particularly beneficial because when your sales are slow, you pay back less, creating a uniquely flexible payback schedule.

What if my credit is already bad?

A merchant cash advance focuses more on your businesses sales history rather than your credit history. If your business has a proven track record of credit card transactions, you are qualified for a merchant loan.

I don't have anything for collateral.

A merchant cash advance does not use collateral. If for some reason you are unable to pay back a cash advance, no one is going to come after your first born (or your house).

In these challenging times, the business world isn't going to stop wait for the bank to approve your loan. A merchant cash advance streamlines the loan process by reducing the amount of paperwork and getting cash deposited into your account quickly, usually within 7 days.

A merchant cash advance is usually more expensive than a bank loan. But if you were to stop and consider just how much it will cost to do business with bad credit, is seems a small price to pay.

Use the following link to learn more about a merchant cash advance.