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A fast way to quick cash

By Joseph Richard Subscribe to RSS | May 14th 2012 | Views:

If you are wondering which would be a better bet for a quick infusion of cash then the answer would definitely be a merchant account loan. Irrespective of whether you are a professional with your practice or an entrepreneur, chances that you need some quick cash in the course of business are high. You may of course qualify for a commercial business loan but more often than not these are mired in local red tape. The chances of you then getting a loan quickly would be next to impossible.

So how then can one use a merchant account loan in order to get some cash fast? Here are things to consider – when you approach a more traditional form of lender you will find that loan amounts have become very restrictive. Similarly the kind of paperwork and documentation needed is rather high. Coupled with that the need for underwriting and a certain amount of collateral means that you may not even qualify for a loan.

One of the main plus points that merchant account loans have going for them is that they are not affected by market credit crunches. They function independent of banks and therefore are not regulated by them as far as interest rates go. The lenders are always willing to make a loan. They however would not like to term it a loan. According to them it is the purchase and selling of future sales amount.

In order to qualify for such loans, you need to have a few minimum criteria fulfilled. You need to be in business for around three months, have a legally legitimate business that you are carrying out, accept credit cards as a means of payment and make approximately $5000 in credit card sales.

The paperwork involved is rather minimal and you will have your approval in a 72 hour time frame. Once this is done you will have your money in the account within a week. Compared to commercial lending this is much faster. In a commercial outfit, approvals alone can take close to a month and you are never assured of it coming through. If you do get an approval, then the release of the money into your account will take an additional period of time and further verification of documents.

The good part of a merchant account loan is that repayment is based on a pre-determined percentage. Should you not have good sales for a particular month, payment can be held back. You have anywhere between six months to a year to repay the loan based on how much you have borrowed.

Joseph Richard - About Author:
Since 2005, Merchant Cash and Capital, LLC has been one of the nation’s small business cash advance funding leaders. MCC has helped business owners who need funding and can’t wait for a business loan. Bad credit business loan options with merchant cash advances made simple. For more information please visit MCC on the web at

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