What Is a Merchant Cash Advance & How Can It Benefit Your Business?
Do you feel like you are at a loss as to how you will find the means to take your business to the next level? Do you want to move your office to a new location, stimulate employee growth or increase the amount of services or products you provide?
Business owners who feel like they lack the time to wait for a bank approved loan or have an unstable credit history may feel like they have nowhere to turn. However, that is simply not true. At ROC Funding Group, LLC, we give businesses the chance to grow and stay in business. We offer loans that come with low-interest rates, flexible and extended terms and easy repayment plans, as well as many other financing options that can help businesses stay open.
In fact, if a business needs cash now, a merchant cash advance will prove ideal.
What is a merchant cash advance?
In the simplest sense, a merchant cash advance is what a company like us would supply to businesses that often have no collateral and a questionable credit history, but that need money quickly. Most of the time, merchant cash advances can be awarded to businesses in as little as a day or two. However, how quickly the cash is given will also be dependent upon whether or not the lender is satisfied with what the business supplied on their application form.
In what instances might you need a merchant cash advance?
Typically, small-business owners are the ones who come to us seeking business cash advances. While the reasons that they need money vary, the top two are usually that they:
- Lack the funds to pay for their new venture to acquire more business.
- Need money to supplement a recent expansion to their business operations.
How can it benefit/affect my business?
As we stated previously, merchant cash advances are usually approved quickly. Also, companies who offer merchant cash advances do not ask for your credit history or collateral. Businesses who choose this option are ones that have no issue letting the lender take a portion of the sales each day (plus fees) until the full amount is repaid.
Are there any drawbacks?
Fees and interest rates can be high. But, if you make more money than what the loan was (plus the fees and interest rate), this will prove to be a viable funding option.
How can you get a merchant cash advance from ROC Funding Group, LLC?
At ROC Funding Group, LLC, we do our best to give every small-business owner what they need to stay operable. In the end, those who are interested in acquiring a merchant cash advance, or feel the need to acquire funding can apply through our website. Once we review the application and determine that this is a wise choice for you and us, we will wire the money to your account in as little as 1 day.
If you have any more questions, or interested in how you can acquire a merchant cash advance with ROC Funding Group, LLC, do not hesitate to reach out to us.