Eliminate burdens in 2020 with a Business Line of Credit
Often times, banks will take up to a couple months (8 weeks) of your time just to say, “We are sorry but, we cannot lend your business the working capital you are looking for at this time”. How frustrating is that? Extremely!
Alternative lenders are more willing to approve your business for the funds it needs. Guidelines are more flexible than with the traditional bank loan. Lenders are more willing to work with you by setting up more affordable repayment terms.
Plus, you can have the funds in your business checking account in as little as 48 hours after receiving your approval, which generally comes back in about 24 hours.
What are some benefits of a Merchant Cash Advance?
Securing your cash through an alternative finance provider is much easier, not to mention faster. More often than not, you will get an approval or denial within 48 hours. The majority of the time you will receive your answer in as little as 24 hours, if, you have provided all the essential documentation needed to obtain your approval.
The process is much simpler with an alternative finance provider. Usually, a one-page application, 3 to 6 months of bank statements, there is no application fee and no need for a Dun’s Number. Less paperwork means less time wasted filling it all out.
Another benefit of the Merchant Cash Advance is that you do not need a personal guarantee to obtain the cash needed. No collateral means you don’t have to use your personal assets to secure the MCA. The lender will make its decision based on the monthly cash flow of your business.