For small businesses that require a merchant cash advance we provide them with that easily and quickly. Small businesses can easily obtain the funding that they require, and they can get it without any hassle and with minimum formalities. Small businesses make up approximately 99.7% of all businesses in the United States, and the entire economy of the US depends on the health of small businesses. As a result we encourage small businesses to be ‘decided’ about their future course of actions as well.
Banks are not interested in funding small businesses, and the reason for this is they are considered to be ‘high risk investments’ for the banks. As a result they have very stringent qualification criteria, and over 90% of all small businesses do not make the cut.
We do provide small businesses with the funding that they require, because our qualification criteria are completely different from those of the banks. Mentioned here are our qualification criteria, and looking at these any small business owner will be able to determine for themselves whether they qualify for the merchant cash advance bad credit or not.
1. The owner of the business should not be in any form of active bankruptcy when applying for the loan.
2. The business needs to be at least $12 months old and it needs to be a running business.
3. The business gross monthly income needs to be at least $10 thousand or over that amount.
And these are the simple qualification criteria that we have, which enable most small businesses to qualify due to their simplicity. Also mentioned below here are the other features that go on to make this into a very hassle free and easy experience for the business owner.
We do not ask small businesses to provide us with collateral to qualify for the funding. A reason for this is due to the fact that collateral is not mentioned in our qualification criteria also mentioned above here. This is a very beneficial feature for small businesses as many of them do not have the collateral required by the banks, and this complicates and delays the entire process.
The processing time frames that we have are also very quick, and we typically can provide small businesses with the merchant cash advance loans they require within 48 to 72 hours from the time we receive the application. At the most we would take about a week to do the same, not longer than that.
Credit scores are also not a problem with us, and we often fund businesses whose credit scores are in the low to mid-500s. Banks on the other hand will not accept loan applications where the credit scores are not in the 700s, and this makes life difficult for small business owners. Generally, most small businesses do not have high credit scores, and banks require credit scores that are in the 700s to proceed beyond the initial steps of the application.
Collateral is another feature we don’t require. We provide unsecured funding, and the funding which is an excellent feature for most small businesses, as many small businesses are not able to meet the collateral requirements to obtain a loan from the banks, as required by the banks.