Small business needs capital to thrive, but traditional banks can make it difficult for entrepreneurs to access the financing they need. Thankfully, alternatives such as iAdvance Now allow entrepreneurs to access the money they need to pursue growth without jumping through all the hoops associated with a bank.
iAdvance Now offers a host of financing solutions, and one of the most popular is an MCA (or Merchant Cash Advance). Sadly, many business owners still don’t know all the benefits that this flexible funding solution can provide. This iAdvance Now review will teach you everything you need to know about this fast capital solution.
Understanding Merchant Cash Advances
An MCA can be simply defined as a company’s purchase of an agreed-upon percentage of your future credit card-based receivables. You receive a lump sum of money that you are free to use however you see fit. In exchange, the company that gave you that money automatically receives a small portion of the revenue every time a customer pays you with a credit or debit card. This continues until you pay back all the money you received (plus some interest) or the prescribed term has run its course, depending on the terms of your agreement.
This offers several advantages over a traditional loan. First, it makes it easier to manage your cash flow. If you have a slow day, your payment that day is also smaller. Likewise, you pay more after a big day because you can afford to do so. Payments are also sent automatically, so you don’t need to worry about any new paperwork compromising your company’s efficiency.
Second, the application process is quick and easy. There’s no credit check, enabling you to secure funding even if your credit score isn’t the best. You can also receive your money in as little as 48 hours, making it much easier to seize opportunities as they present themselves.
How Merchant Cash Advances Help Businesses
The only limitation on how you use the proceeds of an MCA is your own imagination. It’s a great way to get the capital you need to upgrade your equipment, hire new employees (including holiday help), or restock inventory. If a business has been slow lately, you can also use an MCA to keep your business open during leaner periods.
Best of all, MCAs are available to nearly any business that processes a lot of card-based transactions. Some of the industries that MCAs have proved effective for include retail, entertainment, automotive, and wholesale. That said, other industries may benefit from an MCA as well.
Where iAdvance Now Comes into Play
iAdvance Now is an alternative finance company founded in 2013 that offers a suite of options to help small businesses secure the capital they need: including MCAs. While you may have heard horror stories about some finance companies in the past, iAdvance Now is dedicated to the twin goals of economic empowerment and small business success. Their high ratings from aggregate review sites such as Trust Pilot are testament to the kind of service you can expect.
Michael Gold Strikes again by doing a amazing job, and keeping the standard that our clients have come to expect.
(Learn more about iAdvance Now in this post from FeedMyStartup.com)
How to Apply For A Merchant Cash Advance
If you’re interested in applying for an MCA, you can get the process started by visiting iAdvanceNow.com today. There’s no annoying paperwork to fill out, and you can have funds deposited into your account in as little as two days. What are you waiting for?