You might be finding for a way to obtain business finance to buy solar panels but having a tough time doing so. If this is the case, then you know by now that you need to go through many obstacles just to be able to get your small business loan applications approved by banks and other similar institutions.
You also know that you need to be able to meet different sets of conditions that may be unpractical for you to agree. If you are having a hard time trying to get access to business finance, you should consider a merchant money advance.
What is a merchant money advance and how is it possible for you to get fast and easy business finance through it?
It is among the fastest methods to obtain business finance. It already is popular in the US but is relatively new in the UK market.
Generally, businesses like restaurant and retail stores who are operating on credit card transactions are the ideal candidates to have merchant cash advance leads. If you are looking for merchant cash advance leads you can visit leads-junction.
It is different from traditional business loans since it doesn’t have a fixed lump sum monthly repayment. Its repayment schemes are monthly but would depend on the average volume of your business’s daily credit card transactions.
Merchant cash advance offers so many benefits that banks and other similar financial institutions will normally be unable to match.
They are the following:
1. You can have your merchant cash advance application approved in just 24 hours. When you try acquiring a loan from banks, you would need to wait several days up to several weeks for them to even consider approving it. Getting it approved is another tiring wait.
2. You will normally be able to get the funds that you need within ten business days after the approval of your merchant cash advance. This will be invaluable to your business growth plans.
3. A merchant money advance is flexible in nature, that is, you can use it any way you please. Traditional bank loans, once approved, can only be used for the purpose specified on your loan application.
4. You do not require to pay a fixed lump sums each month. Only a small percentage out of your credit card sales will be deducted daily to repay your merchant cash advance. If for example, your sales decrease, expect your repayment to also decrease as well.
5. Getting your merchant cash advance topped-up is easy as long as you have paid some percentage of it. You can do it without re-application.
6. Your credit rating or your business’s credit rating will not be affected in any adverse manner when you go for a merchant money advance.
7. There is no need for collateral for it to get approved.
Still not convinced about the great advantages that you can avail of when you go for a merchant money advance? Try to talk to a merchant money advance expert who will be willing to put all your concerns to rest. You can also speak with solar panel leads experts here.
All you need to do is to make sure that your business is operating for at least 12 months and that you are dealing with credit card sales!