Unsecured business loan repaid from credit card processing
A Merchant Cash Advance, sometimes referred to as a business cash advance, is a great option for both small and online businesses to secure the funding they need to grow.
With a Merchant Cash Advance, a business can secure as much as $2 Million in funding in as little as 72 hours with minimum paperwork, no collateral, and with owners credit history posing no obstacles.
A Merchant Cash Advance is technically NOT a business loan. Business loans have a fixed repayment plan with a set interest rate so the loan payment is the same every month. A merchant cash advance, however, is an agreement to purchase a portion of a business' future credit card processing sales at a discount in exchange for up-front capital. The merchant cash advance companies recover their money by taking a percentage of each month's credit card processing billings, so the amount paid back is greater in months where sales are higher and lower in months where sales lower.
The funds received can be used for things like marketing, purchasing new supplies & equipment, business expansion, and emergency needs such as the ability to meet payroll or make rent. A merchant cash advance, however, is generally not a good option for consolidating debt in which case a debt consolidation loan would be more suited.
Quick Funding, Minimal Paperwork, Less Risk & Good Credit Not Needed
A Merchant Cash Advance typically has higher rates than a traditional bank loan, however it's much quicker, easier, less tedious, and lower risk to secure a merchant cash advance; and there are numerous business benefits including:
Get The Help You Need!
At CyoGate, because our success is based on your success, we are always happy to help. Our professional team of Business Funding Specialists are available to help you find the best business loan and credit card processing options available.