A Merchant Cash Advance from an Alternative Funding Company is More Convenient Than SBA Loans

A Merchant Cash Advance from an Alternative Funding Company is More Convenient Than SBA Loans

Running a small business is tough due to many reasons but most importantly because at the lower end of the pyramid, the competition is intense. It almost reflects the law of the jungle – survival of the fittest. Your small business will invariably face cash flow volatility in your journey towards higher growth and larger scale of operations. If you are not able to meet such liquidity challenges on time you will find it very difficult to tackle the competition. Funding from banks and traditional lenders is out of question because they don’t want to lend to small businesses. Even their Small Business Administration (SBA) loans could be difficult for you to access since the terms are too stiff. That leaves you with just one option which is perfect – cash advance from an US Business funding agency. 

You need the cash advance urgently 

Small businesses need stable growth as much as big businesses do but there is something extra that needs to be done by a small business to break the league and grow faster. You must be able to utilize opportunities that come your way when you are least prepared for it. Quick funding by way of a cash advance will help you grab the opportunity. 

Also known as merchant cash advances, these are unique funding solutions that are designed to meet the unique needs of small businesses. Compared to the stiff eligibility for SBA loans, merchant cash advances need just your bank account statement and a few other documents to be approved within a day. Unlike loans, you repay this debt by using a part of your sales receivables. 

Your credit history will be overlooked 

To qualify for SBA business capital loans, you will need a minimum credit score of 700 among many other conditions. There are not many small businesses with that kind of a credit score, let alone other qualifications. Alternative lenders offering merchant cash advances don’t even check your credit history before approving your cash advance. 

All they are interested in is the viability of your business and whether you have steady cash flow receivables, which is easy to verify from your bank account statement. These are what you may call pragmatic business funding solutions that you can easily access in the shortest possible time. It allows you to meet your urgent funding requirements without any hassles. 

You don’t need to produce any collateral 

It is true that if and when an SBA loan is approved, there is no better form of credit that a small business can hope for. Unfortunately, very few small businesses qualify for SBA loans because of the stiff conditions, one of which is the collateral that you must produce to secure your debt. Merchant cash advances from a business funding company require no collateral. 

The main challenge before a small business is to grow much faster than the average rate at which established businesses grow. That is necessary to acquire scale and heft in order to survive in a competitive market. You also don’t have all the time in the world to achieve that. The only way to do it is by utilizing the big opportunities that come your way. Easy funding by merchant cash advances help you utilize these opportunities and achieve your growth objectives. 

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