Why Alternate Financing Helps Small Businesses More Than Larger Firms

1. Why Alternate Financing Helps Small Businesses More Than Larger Firms

2. Are you running a small business? Worried that you don’t have adequate funds to meet operational expenses? Here are a few reasons why you should consider alternate financing from Money Matters Now (MMN) to meet your additional capital requirements.

3. Quick and simple process Traditional funding options for small businesses are often cumbersome, and even if you are approved, it can take a while to actually receive the money. The application process itself is very lengthy. After submitting your application, banks will take a long time to review your application, conduct their required background checks and seek legal guidance apart from a host of other procedures before determining whether your application is approved or not. This process could take weeks before you can see any results at all.

4. Larger firms may have the liquidity and the power to make this process quicker by arm-twisting banks into releasing funds quickly. Unfortunately, this luxury is not available to small businesses. An MMN merchant cash advance is an alternate funding option in which cash can be received almost instantly. After filling a simple online application form, you can expect to receive the funds into your account within a couple of days. This will take care of your immediate cash requirements.

5. No collateral required While large firms will easily be able to provide collateral due to their high asset value, small ventures may lack this facility and may not even be considered for funding by traditional banks or money lenders. For the most part, traditional lenders choose to offer only secured loans that require collateral. A MMN merchant cash advance does not require you to provide any personal assets as collateral against the cash advance. Future guaranteed business and credit card swipes will serve as collateral in this case.

6. Flexible repayment options Once you receive funds from traditional lenders, you will be required to make monthly repayments irrespective of whether you achieve your sales goals or not. However, when you choose a merchant cash advance, your repayment is based on a percentage of your transactions. Therefore, how much revenue you make determines how much you payback.

7. A great month in sales will allow you to pay back a larger chunk of your borrowed capital, enabling you to quickly complete your repayment. On the other hand, if you had a slow month, you will repay only a small percentage, which will not have a negative impact on how you do business. Consider MMN financing for small business when you are in need of immediate funds as it can get you out of a difficult financial situation.

8. It is also important to note that a merchant cash advance has no impact on your credit score, unlike traditional financing options. This makes it a quick, simple, and secure way for any small business to infuse more capital when it is required the most. Irrespective of which industry your business is in, there are going to be times when you will feel the need for additional finance. Rather than spending time and effort following up with banks, consider alternate financing.