It is well known to business people that merchant loans are specifically meant for people who are merchants and who are into small to medium business. This loan has the benefit that, it is continuously renewable, and it gives the borrower quick cash and service satisfaction. The application for this kind of loan alternative is quite simple. This you can do online or you can approach a bank or a lending firm and fill up a simple form. While filling up the form, you will be asked to attach your financial statement for the last three months from the date of your application, business registration, and other relevant documents concerning your business.
When you apply for a merchant loan alternative the approval of your application takes roughly 24 to 48 hours. In this way merchant business loan provides you with quick access to business cash. The application is processed by a finance expert from the lender's side and if you have filled up the form rightly, supported by documents, there would be no difficulty in getting the loan application approved.
Once the application gets approved, you can expect the cash in your bank within 10 days. If you do not want the money to go into your bank account, you may put a request asking the lender to mail the loan amount to your address. Mailing the amount is a risky proposition as regards its delivery and therefore this option should be taken with good bit of thought.
Merchant loans alternatives are fast cash in comparison to other types of bank loan options which take weeks to be approved and months to be disbursed. The other good side about taking out this type of loan is that, the service is very prompt and of high quality. You can avail this loan 24 hours a day and 7 days a week, and no bank or financial institution can provide a service of this sort. The most beneficial part of having a merchant loan is that you can renew the funding within three or even four months time. This is unlike any other business loans which takes about a year before you can renew. To avail this loan, make sure that you have had the business running for at least the past 6 months.
Several small business owners find themselves not eligible for bank loans. Merchant loan alternitives provide you with the business cash advance you need and this could be used along with any bank loan you might have. You can apply for merchant business cash advance even if you have a loan from a bank. This is a means to have extra business cash needed when you have been unable to get as much as you need through the bank.
Get the financing you’re in need of quickly with business cash advances by filling our one page application.
Merchant Loan Alternatives Benifits
Simple and easy to apply
$5,000 - $10,000,000 Funding options
7-10 day funding for $500,000 or less
No fixed monthly payment
No fixed terms
Use funds to open additional locations
Use Funds for any purpose
Pre-Approval in 24 hours