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Cash Advance Loans

 

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 Cash Advance Business Cash Advance Loans

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Although many financial advisors suggest exercising caution regarding alternative business funding like merchant loans, there are many benefits to choosing this lending route for your small business they are quicker.

Many of the merchant cash advance services can approve your application in only minutes and transfer the borrowed amount to your business account within 24 hours. So, when you need to make payroll or you want to jump on a business opportunity and can't wait weeks for approval, this lending method seems great. Even the slower of the business cash advance companies get money to you within three days after your application is approved.
Plus
When you repay a loan a little at a time, such as with a 5 percent hold-back rate, which is the percentage you agree to repay daily based on your incoming revenue, it doesn't hit your business's bank account as hard as a lump sum at the beginning or end of every month. And because the amount you repay is based on how much you make each day, you aren't paying back a lot of money.

To find the best merchant cash advance service, look out for a company transparent about its rates and fees. It should offer low repayment costs and penalty-free repayment terms. If you can afford it, it's best to find a company that offers prepayment discounts so you pay less in interest.

If you're already using PayPal for credit card processing, it's a good lender option. PayPal requires that you make $20,000 per year in sales, and it lets you borrow as little as $1,000. You can repay the borrowed amount based on a fixed daily percentage, which is less of a hit to your bank account than a monthly cost. Also, its repayment cost averages 6 percent, the lowest rate among the services we evaluated.

Square is another good choice, especially if you're already a customer of the credit card processing company. Its repayment cost is lower than the average at a range of 11 to 15 percent, and it has no minimum repayment requirement, which gives you more flexibility as you pay back what you've borrowed.

American Express also offers one of the lowest repayment costs of the merchant cash advance services  The company may require a personal guarantee so they're sure they get their money back, but it also offers a prepayment discount, so you can cut the cost of your cash advance even lower than your first agreement. Qualified businesses can borrow up to $2 million, the most of all the services

There are alternative business funding solutions available, but if you've exhausted your resources and you need cash now, a merchant cash advance may be what's best for you and your small business. Be sure to read contracts carefully and that you understand what you're agreeing to before signing on the dotted line.

Planet Goldilocks continues to be by far the best resource for merchants offering deep discounts, sweepstakes, contests and surveys. Access hundreds of coupons before you buy groceries and merchandise Online since 2001 Always 50% off or more

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