The Top 5 Advantages of Using a MCA over a Traditional Loan.
With the percentage of businesses that qualify for a bank loan dwindling, acquiring outside capital has become a difficult issue. Applying for a bank loan means business owners must be well established for many years, have a superb credit rating, have superb personal credit score, as well as many other factors. For a business that is still growing, qualifying for a loan from a traditional lender is seemingly impossible.
For all of these reasons and more, a Merchant Cash Advance has many advantages over a traditional loan. Not only can you receive business funding quicker with a MCA, but you also jump through less hoops to get the funding you need.
The Top 5 Advantages of a Merchant Cash Advance from American Stimulus Funding:
1. Our Merchant Cash Advances have a High Approval Rate
If your business has a less then stellar credit score, you may still qualify for a cash advance. Our requirements are less complicated then a traditional bank loan. Simply fill out an application and a funding specialist will be in touch within 24-48 hours. We will do everything we can to determine if your a qualified merchant. An advantage of a Cash Advance from ASF is that we recently partnered with two U.S.A Banks making it possible for businesses that do not accept credit cards to qualify.
2. Payments are based on a Percentage, not a fixed Rate
Repayment is based on an agreed percentage of your daily sales. So when sales are booming, you can pay off your loan faster. If sales are slow, you do not have to worry about the burden of repaying your loan. Simply rest assured that the same percentage will be taken in high times and low times. We fluctuate with your seasonality.
3. Quick Turnaround
Once approved, you can recieve the capital you need quickly. Unlike bank loans, which often have lengthy wait periods between approval and deposit, a MCA with American Stimulus Funding will often get you the capital you need less then a week after approval and all documents have been recieved.
4. No Collateral Financing
Bank Loans almost always require collateral on your assets. Business Funding from ASF requires no collateral for financing, so if it takes a little longer then expected to pay off your loan we have no collateral on your business. As long as sales improve, you can repay your loan.
5. Easy Application Process
Our Application Form is simple, easy, and online. Fill it out and a funding specialist will be in touch shortly.
Learn more about how a Merchant Cash Advance has advantages over a traditional loan, and how working with ASF is the right option for your business.