By NAN Business Editor
News Americas, NEW YORK, NY, Fri. Jan. 11, 2019: A merchant cash advance is a great form of funding when your business simply needs a quick cash boost. It requires relatively little paperwork and the cash can be in your hands in just one or two days.
Merchant cash advances are paid back a little differently than other types of business financing. Your lender will take a portion of your credit card sales each day until the entire amount, plus interest and fees, has been repaid. The higher the percentage of credit card sales they take, the shorter the repayment term will be.
Minimum Criteria to Receive a Merchant Cash Advance
|Years in Business Required||5 months+|
|Annual Gross Revenue||$75,000+|
|Bankruptcy allowed?||Yes, you could qualify for a merchant cash advance no less than 1 year after filing bankruptcy.|
|Credit Card volume a factor?||Yes. $4,500+.|
|Accounts Receivable a factor?||No|
|Second position allowed?||In some cases.|
Caribbean-American and all US business owners seeking a Merchant Cash Advance or other expansion capital have many difference options available including Start-Up Loans as well as Medium-Term Loans, A Line Of Credit, Invoice Financing or a Merchant Cash Advance.
Ask for more information on how you can access any of these finance options and start the New Year right.