Merchant Cash Advance Blog

What You Should Know About Capital Cash Loans in 2017

   Wednesday, 30 August 2017 10:52 PBC Blog

What You Should Know About Capital Cash Loans 2017

If you’re starting your own business or you’re looking for funding options to keep your company thriving, you’ve probably heard of capital cash loans. These loans will offer you a personal or business line of credit that you can use to purchase equipment or pay off bills that need to be current in order for your company to be in good standing. Capital loans can also be approved online in many cases these days, and the convenience of the approval process makes them especially appealing to business owners.


However, it’s important to remember that capital cash loans come with a price. In many cases, your business or personal credit will need to be in good standing before you can even be considered for a loan. If your score is not high enough, you won’t get approved, and if you apply for several loans in a short period of time, your credit score could be affected even more due to the number or credit inquiries that will appear on your report. If credit is not the only criteria that are used for approval, you may be required to use some of your most valuable equipment as collateral. This may not be the best idea for a new business, because if business is slow, you may have to give up your equipment, which makes it even more difficult to get your company back in the black.


If you’ve considered capital cash loans and decided that this may not be the best choice for your company, it may be time to think about merchant cash advances (MCAs). There are several reasons that a MCA is a wise financial choice for your company. One of the main reasons that a MCA could work for you is that you won’t have to go through a credit evaluation for approval. This means you’ll have time to repair your score on your own terms, and you won’t have to worry if you don’t have an extensive credit history if your company is fairly new. You also won’t have to give up any items for collateral, so you don’t have the stress of having your equipment being taken away if you can’t fulfill all the terms of a traditional loan.


When you apply for can MCA, you’ll need to tell the loan company what your goals are for the money. This is a little different from capital cash loans since your credit is not the focus. You’ll also need to describe what you’ve done with your business so far, and your future goals for your company. The cash advance company needs to know that you’re going to be responsible for the advance you’re getting. When it’s time to repay the loan, you’ll arrange to have a portion of your debit or credit card payments go to the cash advance company. This helps you to keep your business budget organized, so you can avoid going into debt.


Consult with your financial advisors to find the best merchant cash advance company for you.

 

We provide two highly accessible financing programs that can get your business the working capital it needs in days instead of months.

For a small business, obtaining a traditional loan today is a complex and difficult process. That’s where Premier Business Capital comes in. 

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