The merchant cash advance is a product that has been tipped for a major rise in popularity over the next few months.
This is largely down to the fact that many businesses have been interrupted for a number of weeks already, and this unfortunate trend looks to be continuing into the foreseeable future because of the coronavirus outbreak that’s affecting the entire globe right now.
It Gives a Funding Boost
The reasoning behind the merchant cash advance growing in popularity is large because returning businesses will require a funding boost in order to help them with the restabilizing process.
Though, the product has also gained a great reputation over the last year, with many success stories surfacing from businesses across the UK that have been helped by the extra funding a merchant cash advance affords its customers.
A market-leading company within this kind of product is PDQ Funding, who’s an expert team of advisors who have helped many a past client to make advancements to their business ventures, developing them on to the next level and allowing them to grow further than they would’ve been able to otherwise.
A merchant cash advance gives businesses an extra boost of funding that is only paid back when they earn money through card sales.
This means if your business has a slow sales week, you won’t have to pay back as much as planned at that time, making it the perfect product for those who have businesses that solely rely on consumer sales.
It’s Scalable With Your Business
One of the main benefits and advantages of the product is its ability to be scalable, fitting itself to the needs of a wide variety of companies.
Every business owner runs into the need for working capital from time to time, but where do you go to get it, especially when your bank refuses to consider your funding request?
There is a finance solution for businesses that take credit cards & debit card payments. In fact, you could get cash from the sales you haven’t even made yet. Turn tomorrow’s credit & debit card sales into today’s cash flow.
There is no faster, safer, or easier way to get unsecured business funding. The business cash advance is classed as a short term working capital loan, this is because they have a term-time of a maximum 18 – 24 months; this is the perfect amount of time for the loan to be repaid within for businesses that are confident in their sales skills and levels.
We expect the merchant cash advance to grow considerably within the next year, but don’t let it be a secret to you while your competitors capitalize on it.
Almost all companies will need a helping hand once lockdown comes to an end, so if you’re the owner of an interrupted business, keep all funding options open to you and look into this type of product as soon as possible, it’ll not only allow you to keep your business afloat but also allow it to experience considerable growth if you use the funds correctly.
Have you considered a Merchant Cash Advance for your business?