When you start shopping for a car, you might be more concerned with additional features and specialty paint jobs than you are about the monthly bill. Unfortunately, the wrong financing can cost you dearly. Compound interest never sleeps, which means that you might be paying much more than you should if you work with the wrong lender. I want to help you to make great financial decisions, which is why I created this website. However, if you can remember a few tricks and keep those payments to a minimum, you can drive away with the car of your dreams without breaking the bank.
While running a small business, you may reach a point where you need financing for something. Maybe it's to get a new building or make more products for consumers. Either way, merchant cash advance lenders—like UrLendr—offer a form of financing you may want to consider because of the following reasons.
Can Receive Money Quickly
Some business investments need to happen as quickly as possible. For instance, if you're trying to buy a particular building to run a business out of, you want to get the money to put down an offer before losing the property to another interested party.
In this case, your best financing avenue might be an MCA (merchant cash advance). Receiving cash won't take that long. You might be looking at roughly a week or shorter. That's key in not missing out on important business deals/transactions that can make or break your company.
Multiple Repayment Structures
One obligation you will need to meet after getting approved for a small business MCA is paying back what you were given. Fortunately, there are a lot of different repayment avenues that you probably will have access to with the lending party.
You just need to ask about them in the beginning, whether it's an automatic withdrawal service or an agreement to pay a specific amount by a certain day in the month. As long as you opt into a repayment plan that you're comfortable with and can meet consistently, an MCA isn't going to cause your company a lot of financial stress.
Don't Need Collateral
There are some business loans today that require applicants to put up collateral. It's a form of protection just in case the lender doesn't receive money for what they gave. You don't have to put your company in this situation when using a small business MCA.
No forms of collateral are needed at all in fact. You just need to show the lender that you have the means to pay them back, and you'll go through a screening process to confirm these financial details before you're approved. Not having to put up collateral makes getting one of these advances less stressful.
If your company is in a tight spot with money but it's necessary to push forward with a goal or investment, consider the option of getting a small business merchant cash advance. A lot of companies are doing this because they're easy to get and pay back.
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