A lot of people that hear the term credit card improve think of a cash advance used by people to get short term loans from their credit cards. For more on 신용카드 현금화 have a look at the internet site.
Credit cards advance for businesses works much differently. Sometimes referred to as a vendor cash advance or merchant loan; companies can receive up to $500K in about 7 days without collateral.
You pay the cash advance back by using a small percentage of your daily bank card sales. This percentage is usually lower than 10% of your daily gross sales. Because the payback amount is based upon a portion of your credit card sales; you will end up paying back less on slow days and much more on busy days. In other words; the payback happens automatically and goes with the natural flow of your companies.
There are many benefits to getting a money advance as opposed to getting a business loan from your bank. One of the main advantages is that there is a 90% approval rate. Other benefits include;
No collateral is necessary.
Bad credit does not disqualify you through getting funded.
Approval takes between 24 and 48 hours.
You get your funds deposited directly into your business account in approximately 7 days.
The application form process is quick and simple, and you will find no application fees.
There are no restrictions on how you spend your money.
Versatile payback structure is done automatically and carries no penalties for past due payments.
That leaves the question; in case you had $10K, $20K or $100K to invest in your business, how would you spend it? With a merchant cash advance you can spend it any way you like. You are able to;
Expand your marketing and advertising
Replace outdated or faulty equipment
Catch up on outstanding debt
Buy out a business partner
Open a new area
The possibilities are endless. I must alert you that these funds should only be used for investing into your company. Using it to buy a new car or go on vacation is strongly cautioned against.