FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Jan 17, 2014
-- In the strictest terms a merchant cash advance is not a loan. This is why the providers of this form of funding have different laws regulating them than those that govern traditional funding institutions like banks and non-bank finance companies. This industry is worth billions and the number of players that are present in this industry is in thousands. Every state in the country has some of these merchant cash loan companies, some of which have thriving businesses. When you apply for merchant cash advance you are actually surprised at the speed at which these companies operate. This is the USP of these companies and this is why they offer the best solutions for quick working capital requirement.
A merchant cash advance is not a loan but purchase and sale of future income. This is one of the issues with this industry because standard banking and finance laws don’t apply to these companies and there are no limits on interest rates. However, this companies that operate in this domain are not loan sharks. They are bound by their own laws and regulations that you should be aware of as a probable borrower. This awareness should come to you before you apply for merchant cash advance so that you get the best deals.
It is important to know that the rates of interest in cases of merchant cash advance are higher than bank loans. However, different companies in this domain have different rates of interest and this is one of the most important reasons why you should spend time comparing these companies and their rates of interest before you apply for merchant cash advance. Once the money is in your account you will not be able to do anything but pay an exorbitant amount as interest – and to think this would happen just because you chose to ignore the company before you applied for cash advance.
All what has been written above probably may not paint a very positive picture about these companies but there is one positive about merchant cash advance that you simply cannot ignore. These companies are the fastest in disbursing money. When you apply for merchant cash advance they ask you for your three months’ credit card sales and/or company account statement. The loan amount is decided basis the volume generated by the credit card machine or the transactions happening in your company account. Since credit checks are not very stringent in such advances you can expect approval that can happen by the end of the day when you applied for the loan. And the money would be in your account the next working day. Of course not every loan is approved within 2 days but largely they are.
When cash flow is an issue you often find that banks and other lenders don’t help. The situation worsens when your credit rating is not the best. But you can always bank on merchant cash advance. You may need to pay more when you apply for merchant cash advance but think how such an advance benefits you.
When you apply for merchant cash advance http://www.elitemerchantfunding.com/merchant-funding.html you can expect the fastest cash disbursal directly to your account. Providers of merchant cash advance http://www.elitemerchantfunding.com/merchant-funding.html have the simplest methods to approve and disburse loans.