As a business owner, you have many options available. You could go to a bank, a credit union, or even a private lender. You could also use your business credit card. However, if you want a solution that is as flexible as your sales, consider a merchant cash advance. With low fees and acceptance based on your business, it’s a great way to get the capital you need.
Getting online payday loans online has never been this easy
Whether you qualify for an online payday loans online available via ACFA Cashflow depends on a few different criteria. Most companies offering these types of financing for your business and its sales rather than your credit history, but this differs based on the lender. In most cases, lenders look for:
- A retail-based business instead of one that is home- or e-commerce-based.
- A minimum amount of credit and debit card sales in a month.
- A minimum amount of time since the business was established.
- A business that is headquartered in Canada.
If you can meet these simple criteria, then you can get the cash you need. Lenders tend to offer anywhere from $ 5,000 to $ 1,000,000 depending on the size of your company and your ability to repay.
How Borrowers Use the Funds
The great thing about merchant cash advance is that you can use the money for anything that will improve your business. Have a project that will provide you with an outstanding return on your investment? A merchant advance can help you raise the capital. Want to remodel your shop to make it more modern? You can do that too. In fact, you can use the funds you receive to purchase your equipment, stock your inventory, or even help you get through a year in sales.
How Repayment Works
Unlike traditional financing, you repay a cash advance on your own time. There is no fixed time period during which you must repay the financing in full. When you accept financing, you agree to allow a small percentage of your daily sales until your merchant advance. What’s more, unlike banks, there is no collateral necessary and having bad credit is not an immediate disqualifier. It’s all about your business and your ability to repay your financing over time.
Getting a Merchant Advance
If you are interested in getting help with your business needs, you will need to provide some basic information. You will need to provide your basic business information, your merchant ID number, recent bank statements, a government-issued photo ID, and a void check. If you request a large amount of financing, you may need additional documentation.
Thinking our company is Canada’s premier provider of merchant advances. If you need money for your business for any reason – you want to buy new equipment or even another location – we can help you get the money you need for your business. Apply today and find out just how simple it really is.