Merchant Cash Advances in Ohio are one of the finest business lending solutions for small and mid-size capital businesses throughout the nation, as well as throughout the world. Right now in Ohio, you can be approved for a cash advance loan without having to pledge collateral.
When you look at why merchant cash advance loans are needed by business owners in Ohio, it’s really no mystery. Credit card processing is one of the most important services that TX businesses provide to their customers, and when businesses experience a period of slow business, like they are experiencing currently, they can run into problems meeting their financial obligations. If you’ve got a customer who isn’t making a payment, but you still have other customers waiting in line, it can be a frustrating and financially threatening situation. That’s why businesses need a merchant cash advance in Ohio in order to keep their doors open.
Ohio Merchant Cash Advance solutions allow a businesses’ merchant account to expand when they need it, and at an affordable cost when compared to other types of borrowing. In fact, the interest rates are almost always less than what you would pay for a traditional loan against your property, even though the repayment terms will be much longer. This makes Alternative Funding Groups MCA an excellent solution for a Ohio business owner who needs the immediate funds to keep his or her business afloat, but doesn’t want to use credit cards for the purpose.
With a Merchant Cash Advance, you can gain a lump sum as additional cash inflow in exchange for a portion of the future credit card sales that your company will make.
An MCA is not a loan in the most traditional sense. It acts as an advance on the future sales that a company will make which is paid through in percentages of daily credit card sales. By definition, it also acts like a purchase for the business.
Provided that you fill out the online application form properly and as long as you submit the correct business and bank related papers, your application can get approved in as fast as 24 to 48 hours.
The lump sum that you receive from your Ohio Merchant Cash Advance is paid through percentages from the daily future credit card sales that your business makes.
The MCA started as early as the late 1990s when Barbara Johnson and her husband founded Advance Me and the technology that allows credit card split sales. The company and technology was founded in order for businesses to get an advance on their sales during slow periods of business.
The merchant cash advance can be classified as a future purchase that you can pay back later. The lump sum is provided to you in exchange for your future sales that act as installments.
Qualifying for a Merchant Cash Advance is easy with Alternative Funding. You automatically qualify by being a business in one of the 48 contiguous states. After that, it’s just a matter of completing the online application form and passing the right documents. After some additional verification from our in-house experts, you can be approved in as fast as one or two days.
