Some people use a merchant cash advance instead of a business loan because they are a fast way to get their business funded. Others use them because they are having a difficult time getting a bank loan.
They may have been turned down for any number of reasons; bad credit, the type of business they own or a lack of collateral. Frankly, the banks are turning down almost everyone regardless of how good their credit is.
This refusal to lend money has put a tremendous burden on small business owners who used to rely on short-term loans on a regular basis to keep their business running smoothly. In fact; many business have been forced to close their doors forever because they no longer had access to working capital.
For those of you who trying to get a business loan with bad credit;
The bad news is that it is almost impossible to get a loan with bad credit. When I say almost impossible, I really mean it. Luckily, there is another option out there that does not involve going through a bank and does not require you to have good credit. That option is a merchant cash advance.
A merchant cash advance (or merchant loan) makes it possible for any business, regardless of their credit history to get funding. Not only that; a merchant loan is the fastest way to get money, usually taking only a fraction of the time it takes the bank.
Some businesses get turned down because they lack sufficient collateral. That is not the case with a merchant cash advance. They never require you to risk your personal assets under any circumstances.