Building a business usually requires a helping hand and it used to mean applying for small business loans. Unfortunately, the process of applying for a loan and waiting for approval was complicated and drawn out, and it could be rather expensive. Perhaps even worse than that, during the wait the merchant’s financial situation was likely to worsen and it was very possible that he or she would not get approved for the loan at all. Rapid Capital Funding offers an alternative to that somewhat antiquated course of practice. This company offers what is called by some a business cash advance and by others a credit card advance.
There are countless differences in these advances and traditional small business loans. One of the most remarkable is that merchants can be approved in as little as 24 hours. This insures that the merchant gets the money when it is needed, not weeks or even months later. There are no application or start up costs and no hidden charges. No collateral is required so these advances are basically unsecured business loans.
The business cash advance is based on credit card sales. A good credit history is not necessary for approval. In fact, the approval rate is 95%. The major requirement is that the merchant accepts either Visa or MasterCard as a form of payment and that total credit and debit sales are a minimum of $2500 every month. The Merchant Cash Advance can be used for whatever the merchant desires. This includes daily operation costs, payroll, renovations, expansion, new equipment, general cash flow, or anything else. The truth is that approval of traditional small business loans is often based on credit history alone. The problem is that many new businesses require time to build a good credit history and without sufficient funding it is almost impossible to do.
Rapid Capital Funding is a direct funder, meaning they are not brokers, they fund their own deals. The company is partnered with North American Bancard (NAB), which is one of the largest and fastest growing credit cards processing company in the country. Together, this winning combination has provided hundreds of business owners the money they needed to realize their dreams through a Merchant Cash Advance. Many merchants have used the advances to expand their businesses or to simply keep things on track. Because the money can be available in as little as 72 hours the merchant can make use of it almost immediately.
The credit card advance is based on credit card sales volume, which means that during slow times the merchant will pay less. In other words, the process accommodates the natural ebb and flow of business ups and downs. And just as with unsecured business loans, the merchant is responsible for providing collateral.
If you own a business you definitely need to check out Rapid Capital Funding. This is a company that can assist you when you need it. Visit them at: http://www.rapidcapitalfunding.com or call: 1-888-344-0095