Until recently, merchants had not been actively looking for an alternative to small business loans. But recently bank lending has dwindled and the recession's steady grip on the employed, the unemployed and entrepreneurs alike, has sent business owners on a frenzied search for alternatives to small business loans.
Myriad magazines, newspapers and blogs, etc., have given advice about business loans alternatives, including angel investors, venture capitalists, and p2p lending, but one of the best small business alternatives is the merchant cash advance. The merchant cash advance is considered one of the best alternatives due to its multiple selling points, which are as follows:
Being able to get business funds with no collateral is an excellent deal, especially today. Small business owners enjoy the fact that with business cash advances, they can get up to $500,000 in unsecured business funds, which can be used with no restrictions.
Flexible repayment procedures in which providers deduct a small percentage from borrowers' daily credit card sales allows small business owners to focus on running their businesses rather than making fixed monthly payments. It also allows the actual payment amount to fluctuate (payments are lower when sales are lower and higher when sales are higher).
It's easy to qualify for a business cash advance. A merchant who has owned his/her business for at least six months, processes a minimum of $3,500 in monthly credit card sales, has at least one year remaining on the business lease and has no unresolved bankruptcies, can qualify for $5,000 to $500,000 dollars through a business cash advance.
Merchant cash advance lenders allow borrowers to renew their advances when they've completed 60 percent of repayment. Renewing is fast, easy and convenient.
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