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merchant cash advances

merchant cash advances

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merchant cash advances

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  1. SERVICE CAPITAL

  2. Merchant Cash Advances: Merchant Cash Advances and standard business loans are very different. While loans will often require you to put up some form of collateral, merchant cash advances don’t. Instead, you’ll get a lump sum after terms are agreed upon. Once you have the money, the repayment begins automatically through a percentage of card sales every month. Of course, you can choose the recurrence of the repayment plans between daily, weekly, or monthly, although the percentage of sales due might not be as flexible. The total you pay back largely depends on how much you bring in per day. The higher your sales, the faster you can repay the debt.

  3. Despite these benefits, merchant cash advances also come with several caveats that are worth noting. The overall amount you pay back will likely be higher than that of a loan. Understandable since you don’t need to submit any collateral, but compromises always need to be made. Those seeking large amounts in advances will also likely be disappointed as the total amount given usually floats between one or two times your monthly card transactions. That being said, if most of your business operates using cash, merchant cash advances might not be for you.

  4. Contact Us: Contact: 18773863664 Email Id: servicecapital.ca Website: info@servicecapital.ca

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