Chrystal King writes articles about the Merchant Cash Advance , the alternative method of business funding, for Merchant Resources International.
As an entrepreneur, coming up with great ideas is a day’s work for you. From the creation of your product or service to the conception of your advertising and marketing plan, to developing employee incentives, you come up with one amazing idea after another, and it never gets boring.
About a decade ago, those same idea generating skills were used to create merchant cash advances…and your next big idea might just be to take advantage of one yourself.
Merchants who have owned their businesses for at least six months, process a minimum of $3,500 in monthly credit card sales, have no unresolved bankruptcies and have at least one year remaining on their business leases can qualify to receive up to $500,000 in business funds.
Merchant cash advances are completely unsecured (no collateral required) and there are no restrictions on how the funds can be used. So, merchants can let their ideas run wild when planning how to use their advances.
Another reason why so many entrepreneurs are flocking to merchant cash advances is the repayment. Merchants don’t have to make fixed monthly payments on their advances. Instead, a small percentage of their business’s daily credit card sales will automatically be deducted and applied toward the repayment of the merchant cash advance.
“Often the best way to foster a brilliant idea is not to push it,” wrote Dyan Machan, in his article “Finding Your Next Eureka Moment.” So instead of worrying about where to get cash to expand, advertise, make payroll or even keep a business above water, small business owners can choose a merchant cash advance, a business funding method that is simple, easy, convenient and available.
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