The biggest challenge that a new business faces is the lack of financial availability when they need it. Banks require a minimum of 2-3 years in business, have strong credit, fill out a ton of paperwork and provide all financials and tax returns for both your personal and business to consider your business for any type of financing. They also require you to personally guarantee any dollar they give you.
With a Merchant Cash Advance, it only requires a business to be in operation for a minimum of 6 months, have monthly deposits of at least $10,000 and a credit score of 500. There are also NO personal guarantees involved.
The process is straight forward and takes 5 minutes to complete… just complete a short application that requires basic information about the business itself and the owner/s, and sending the last 3 months of bank statements, that all you need to get an offer to see how much you qualify for. You can see what an application looks like here www.thorcapitalgroup.com/apply/.
Merchant Cash Advances are different from the banking system’s guidelines because they generate offers based on the company’s deposits and their performance. Credit history is not a major factor in the consideration for an approval. Once the application is completed and the bank statements have been submitted, you can have an offer within 1-2 hours and funded the same day (Yes, you read that right!).
Merchant Cash Advances are a great quick way to get your company the financing you need for any business purpose. Funds are typically used for marketing, hiring new employees, purchase inventory, payroll, opening a new location etc. There is no restriction on what the money can be used for.
Merchant Cash Advances ease the financial issues of businesses.
We accept ALL credit.
One of the key benefits of Merchant Cash Advances that is already listed in the introduction is that these loans do not need a strong credit history. This means that these loans can also be sought by someone who has not taken any loans or advances in the past.
What can I use the funding for?
Merchant Cash Advances are a great quick way to get your company the financing you need for any business purpose. Most clients typically use the funds for marketing, hiring new employees, purchase inventory, payroll, opening a new location etc. There is no restriction on what the money can be used for.
Simple and easy process
The thing that I like most about cash advances is that you do not have to undergo these lengthy, back-breaking applications and form filling procedures. Banks are why individuals often hesitate to scruple applying for a loan because bank loans typically need a great deal of details to begin the process. It takes 6-8 weeks or more to hear back from any bank. All this hassle, and these lengthy processes are not fun at all for someone who urgently needs money for their business immediately.
Merchant Cash advances also allow individuals to conveniently apply for an advance by just sitting at home on their comfortable sofas. This is due to the sophisticated technology that allows them to accept online applications like you can see here www.thorcapitalgroup.com/apply. So now, since you can do this from wherever you want, you do not need to think about visiting the banks for your loans only to get a decline after waiting a 6-8 weeks for an answer.
How fast do you need the money?
You will get access to your money in as little as 6 hours. The maximum it will take to deliver the funds is 48 hours. So, if you are in an emergency, or your company needs money as soon as possible, then the best option for you is a Merchant Cash Advance.
From the above discussion, it is evident that cash advances have great advantages for all of us, particularly for business owners. So next time, never forget to approach cash advances if you want a simple and fast loan or advance because they are your best companions in a time of need.