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.
Benefits of a Business Cash Advance Loans for Small Businesses
What are the benefits of a merchant cash advance over a standard loan? This financing method comes with many advantages, including:
- Receive money fast: Cash advances exist to provide money quickly. The application process is typically fast, and you’ll receive your money within a week.
- No need for good credit: With a merchant cash advance, bad credit won’t get in your way. Since this process relies on future credit card sales, lenders will look at your profit before your credit score.
- No set payment amount: With loans, you have to pay a set amount every month to repay your lender. With a business cash advance, your payment is a percentage of your profit, so during slower sales times, your repayment amount will stay proportionate to the amount of money you make. This arrangement makes a business cash advance ideal for seasonal companies.
- Greater flexibility: There are no limitations on how you spend your cash advance. You can put all the money toward one project or split it into multiple smaller expenses.
- Low risk: Cash advances typically don’t require backing by assets or collateral since they are based on ongoing repayment via sales. No collateral means you can relax knowing your assets are safe in your possession.
Grow your business & Get a Business Cash Advance Online Fast With Sapphire Capital Group
At SCG, we offer a range of flexible solutions for businesses that need cash fast. With a merchant cash advance, you can take advantage of low risk and a simple repayment method that aligns with the highs and lows of your sales.
With our connection to over 90 private lenders and dedication to our clients, we will find a financing solution that works best for your business. Get business funding to start growing your company by filling out our application for cash advance loans online or contacting us for more information.
