According to the recent studies, the American small businesses are more into “Merchant cash Advances” than ever before.
Merchant cash Advances has already been at the market for a pretty long time, but there are some changes that might be observed nowadays. Necessity in finance for the business is reaching record highs with American economy. However, many companies found themselves in confined situation in terms of cash. This laid the grain for non-banking lending setups, including MCA industry. Now, cash advance industry has become one of the most powerful and well spread non-bank financing for small and mid-businesses.
When searching for a merchant cash advance company to work with, be sure you’re working with the best. There are a lot of predatory lenders in the space, so fully vet your options before you sign on the dotted line with any of them.
Here’s a list of some well-known merchant cash advance companies.
Signature Funding company
- Do not run your credit until you accept our offer.
- Able to approve their clients in as little as 24 hours or less of receiving the information.
- Require a simple application and 3 months of business Bank statements.
- Can immediately wire your business up to $500,000 or more based on your needs and eligibility.
Can Capital
- Maximum loan amount $2.500 - $250.000
- Minimum requirement for the annual revenue $10,000 per month
- Credit score not lover that 600
PayPal Working Capital
Square provides between $500 and $100,000 in capital to Square Sellers, and PayPal offers between $1,000 and $97,000 in capital (higher loan amounts available for repeat borrowers) to PayPal merchants.
When you find yourself needing quick cash for your business, you might be tempted to work with merchant cash advance companies. After all, they can give you capital within just a few days, and repayment is flexible, going up or down in tune with your sales revenues.
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