As a business owner, we know you do your best to prepare for the good, the bad, and the ugly. Even so, times can get tough and leave your company in need of quick funds. If you find yourself in this situation, a merchant cash advance could become a necessity.
If you’re not familiar with merchant cash advances, this is how they work: a provider will lend your business a sum of money with a high interest premium attached—expect 30% or more on a loan. These loans are a good option if your business has little or no credit or collateral, but deciding to go with a merchant cash advance is a big decision.
Before deciding on a merchant cash advance provider, it’s imperative that you research the options and make sure your business truly has a need for this type of loan. We created a Merchant Cash Advance Checklist to help you visualize your options. Download it now for free to get started.