Businesses have had the roughest year since the Depression, and getting the working capital they need to stay in business is crucial. In this article, we explain how you can fund your small business with a Same Day Merchant Cash Advance in 8 hours or less.
There’s over 32 million small businesses in America. However, 500,000 businesses fail each year due to lack of capital and cash flow. Businesses need cash yesterday and big banks are only helping a few spotless businesses with funding.
What is an 8 Hour Merchant Cash Advance?
An 8 hour same-day merchant cash advance is an advance on your future business credit card transactions, which is then paid back daily or weekly through ACH in your banking account.
These same day merchant cash advances are beneficial for business owners who need funds today for emergencies, buy new equipment, or any other pressing need to keep their business running.
Our merchant cash advance is unlike other traditional MCA loans because we look at your general future earnings rather than your credit card transactions, which eases a lot of pressure on the business owner.
Also, the business advance is paid back daily or weekly through ACH, meaning automatic payments, so the business owner can concentrate on running their business, rather than worrying about loan payments.
If your business meets the basic requirements of the same day advance (and you apply in the morning) chances are you will have the funds by the end of the day. Of course, there is no guarantee on the time it takes to get approved. However, we see that most businesses that meet the business funding criteria get funded by the end of the business day.
Benefits of a Same Day Merchant Cash Advance
Big banks only approve around 13% of business loans, and these stringent loans usually require collateral, a credit score of 680 or higher, and business revenue of $20,000 or higher for the last two years.
Our business cash advance works for the working class, in that you only need a 450 credit score, have to put up no collateral, and only need to be in business for six months. We look at your cash flow, not your credit score. As long as you don’t have any liens or too many NSFs or have other outstanding loans then chances are great you will be funded.
How to use your Business Advance to grow your Business
A short-term business advance is something that is used for working capital and emergencies. These advances are usually less than a year in term and are paid back using factor rates instead of interest rates. A good factor rate is 1.19 times the funded amount, which means you would pay back $11,900 on a $10,000 loan in 30 days, etc.
The best way to use your same day merchant cash advance is to pay any outstanding debts, repair equipment, and hire quality help. If you have leftover funds, you can look into creating more awareness to your company using social media marketing, and business advertising on websites such as Yelp and the Yellow Pages.
Why Choose Us for Your Same-Day Merchant Cash Advance
Last year has been extremely hard for everyone, especially businesses. We are committed to bringing back small businesses in America because we are business owners ourselves.
No other lender can get you funded in 8 hours or less. Usually, they can get your advance in 24 hours, but not 8 hours.
We will take care of you! You will get your own dedicated account manager to work with you on getting your needs met, and you can draw funds several times as needed. Thank you so much for reading, God Bless you, and we hope we can help you get funded!
Click HERE to apply. 5 Minute application with no hard credit check.
Learn More About Our Same Day Capital
Erik C. Johnson
Independent DAC Agent