Embed Size (px)
Citation preview
3 Tips that can be Incredibly Useful While Borrowing a Merchant Cash Advance
Merchant cash advances are great options for those businesses that have a large volume of credit card sales transactions. They may work well for retail outlets, restaurants and departmental stores where there is a huge traffic on an everyday basis. A portion of the sales goes directly to the lender’s account whenever you swipe a customer’s credit card on your device.Although easy to obtain, there are three things you need to know about merchant cash advances before you request funds
Determine your Requirements
Merchant cash advances include high interest rates and expensive set-up and other fees. Therefore it is not feasible to go for an MCA every time you need money. You will have to prioritize your requirements. To get out of bad credit, an MCA would be a good choice; but not for furnishing your entire office.
Remember, by taking a merchant cash advance you are actually agreeing to give out a major portion of your future profits. Find out what you badly require and take only that much.
Go through the small print
You, as a small business owner, may be signing lots of papers, on an everyday basis. However, an MCA agreement is one paper you have to pay attention to. It is not just the contract; you may have to read the service agreement too. By doing so, you will be able to understand the payment plan, find out what charges you need to pay and be aware of the basic agreed-upon terms. Pay special attention to the parts that talk about post signing fees and interest rates.
Most merchant cash advance lenders may contact you directly by purchasing merchant cash advance leads, merchant cash advance real time leads and merchant cash advance live transfers from professional lead generating firms. If you do get a call from such a lender, make sure you ask for maximum details that will help you take an informed decision.
Evaluate the Repayment Plan
MCA is not the same as a standard loan. It is very easy to qualify for such a cash advance and you may even get the money within just about an hour’s time. You can easily get it even if your credit score is bad. However, you will have to evaluate the repayment plan and find out if you can manage to pay back the advance through your future credit card sales.
115 E 57th Street, 11th Floor New York City, NY 10022
Toll Free No. 877-845-8225 Fax: 646-558-4303
Email: [email protected]
Web: www.heritusleadtransfer.com
Heritus marketing group
115 E 57th Street, 11th Floor New York City, NY 10022 Toll Free No. 877-845-8225 Fax: 646-558-4303 Email: [email protected] Web: www.heritusleadtransfer.com
