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Merchant Cash Advance for Online Businesses

online business cash advanceThere comes a time in the life of most businesses where extra capital or financing is needed. Online businesses selling products on their websites are no exception.

Are you looking for a business loan for your online business? Have you considered a merchant cash advance? It may be the right solution for you.

While traditional business loans or financing from a bank seems like the obvious place for businesses to get the funding they need, merchant cash advances can be a better option for online businesses.

Application, Approval & Funding Process

The application and approval process for a traditional business loan can be a headache. In addition to extensive paperwork and seemingly excessive underwriting conditions, businesses are usually required to have some sort of collateral to secure the loan.

Most merchant cash advances are based on a business’s monthly credit card sales, so there’s no need to have high value assets to back the loan.

Online businesses without physical stores or property can receive the funding they need.

The cash advance application requires basic information and support documents and the approval process is usually quick and easy.

Monthly Payments

Traditional business loans have a fixed repayment period with fixed monthly payments. A fixed payment schedule can be difficult to maintain for merchants that have seasonal sales cycles, as is the case with many online businesses.

The fact that cash advance loan repayment is based on credit card sales, offers more manageable payments for online business owners when sales are slow.

While it can take several weeks for a traditional business loan approval, cash advance approvals are fast. This means faster funding. Online businesses can receive cash advance funding in just a few business days.

Terms or Use of Funds

With traditional business loans, banks are usually very specific about how the capital is used.

Cash advances allow an online business owner to use the funds for whatever purpose they want. Whether purchasing equipment, building a new online store or website or paying off existing debt, it’s not a problem.

Get Started Today

Don’t waste time waiting for an approval for a business loan from a bank. Your time is better spent managing your online business and determining how best to use funds.

If you’re ready to learn more about financing from a cash advance for your online business or ready to get started, call us today at 888-383-8056 or ‘Apply Now’ to complete our pre-app.

We’ll help you through the application process so that you can get the funds you need fast and easy.

Apply Now