Why is a business cash advance (from Merchant Resources International) considered the bank loan alternative? Because we offer the same support as the bank with fewer requirements; because we offer financing to the various business owners who don't qualify for a bank loan; because we are here for you when the bank says no.
Take a look at the requirements for a bank loan versus the requirements for a business cash advance, and decide for yourself which is more convenient.
The benefits of choosing a business cash advance over a bank loan are numerous. Applying for and receiving a business cash advance is fast and easy. Unlike the bank, where the entire process can take several months, we can fund your business cash advance in seven business days.
We don't require that you have collateral or good credit. All we need to know is that your business has been in operation for at least four months, and processes at least $2,500 a month in credit card sales. Our repayment process is easier than the bank's as well. Every time one of your customers makes a credit card purchase, a small percentage of that sale goes toward the repayment of your business cash advance. That's right, no fixed monthly payment and no added stress; just continue business as usual as your business cash advance is paid off while you work.
We also allow you to renew your business cash advance. When 60 percent of your business cash advance has been paid you qualify to receive yet another business cash advance. The renewal process is even easier and shorter than the initial process. All we need is your signature and you can have more money in the account of your choice in only 48 hours. This is a greatly appreciated feature as our renewing customers do so at an average of four times per customer.
