Benefits of a Merchant Cash Advance for your Business
What a stress the COVID-19 pandemic has had on small businesses! Many have been finding it difficult to obtain conventional funding from banks, credit unions, and other “typical” sources. Perhaps it’s time your business considers a merchant cash advance for that much-needed infusion of capital. We at Progressive Capital Funding can help you obtain the funds you need by obtaining a merchant cash advance.
Merchant Cash Advances in a Nutshell
A merchant cash advance is a type of financing in which you leverage your credit card merchant account to access funds. It is not the same as a conventional loan. Here’s how it works:
- We make an agreement with you regarding the advance amount, payback amount, holdback, and term of the advance.
- Once that is set, the advance is rapidly transferred to your business account in exchange for a future percentage of credit card receipts.
We can offer advances as large as $200,000. It doesn’t matter which credit card your firm uses: Mastercard, Visa, Discovery, or another. You do not need anything like perfect credit to obtain a merchant cash advance.
Benefits of a Merchant Cash Advance
Here are some of the benefits that you will enjoy:
- An almost-instant infusion of capital to use as you wish
- No fixed payback schedule
- No collateral needed.
- No application fee or closing costs at all
Contact us today to get the funds you need.