Business Cash Advance Financing
When you run a small business, sometimes you need a lot of cash fast. While a loan is one choice, you have other business financing options that may work even better. A business or merchant cash advance is an excellent alternative to a loan. At Sapphire Capital Group in New York, we provide business cash advance financing to help grow small businesses across the United States.
How Does a Merchant Cash Advance Work?
A merchant cash advance is different from a standard loan. Rather than borrowing money and paying it back on a schedule, you sell a percentage of your credit card income to a lender. When you receive a business cash advance, a lender gives you an agreed-upon lump sum of cash upfront. To reimburse them, you agree to give them a portion of your credit card sales until you pay back the amount you borrowed.
This type of financing is ideal for small businesses that make a majority of sales through debit or credit. These small businesses can especially benefit from a merchant cash advance if they operate on a seasonal basis and have higher incomes during certain times of the year.