SUPPORTING HOUSTON BUSINESS NEEDS
If your business accepts credit cards then a Merchant Cash Advance in Houston could be the ideal short-term financing solution for your business.
What is a Merchant Cash Advance?
A Merchant Cash Advance is a method of financing that differs from a normal business loan. The lender advances an agreed amount of money to the client based on current credit card sales. The lender is paid back by taking a percentage of future credit card receipts until the advance is repaid.
As payments are flexible – they are based solely on your credit card sales receipts, your business is not under threat of not being able to make a payment if business slows or the season is quiet. The agreement you have made continues as your business brings in sales. This type of arrangement can suit Houston business owners who might have erratic or seasonal volumes of business credit card receipts.
With regular loans there is a process to go through which includes checking your personal credit. Because cash advances in Houston are mainly based on credit card sales your personal credit situation is much less important. Where a business owner cannot qualify for a conventional loan he or she may well be an ideal candidate for a Merchant Cash Advance.
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What is a Merchant Cash Advance Houston?
Our financing company will advance you cash of let’s say $26,000 against future credit card receipts of $30,000. The finance company will take an agreed percentage from every credit card sale (usually between 10% and 20%) until the money advanced is repaid in full.
A Merchant Cash Advance Houston is not a loan so it will not be reported to credit agencies. This means you cannot build business credit for your history of making repayments.
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