Finding merchant cash advances with bad credit can be a challenge. Some lenders will often review your credit history as part of the qualification process. If your credit is considered below par, lenders will reject your application. You may have already experienced this when applying for business credit cards, lines of credit, or installment loans. One by one, your applications are rejected. At this point, it may feel like you’ve run out of viable options.
Thankfully, there is a great option that small business owners like you can choose to quickly get the money they need regardless of their credit score. Don’t worry. You can still get the working capital you need to help your small business grow.
Merchant Cash Group Doesn’t Pull Your Credit Score
Merchant cash advances are very different from other types of financial assistance, and Merchant Cash Group does not pull your credit for initial approval. Using your business bank account statements to prove you have a steady and consistent sales flow is what counts, not your business credit score.
With a merchant cash advance, you are agreeing to sell a percentage of your future sales at a discount for a cash advance. The business cash advance is then paid off as you go about your normal business routines. There are two payment options; either a percentage of each credit card payment you accept is split and that portion is sent directly to Merchant Cash Group, or you make a flat daily ACH payment from your business bank account each weekday. Even if sales are slow, you don’t have to worry about defaulting or inflicting more damage to your credit score. If you choose the daily ACH payment option, the payment amount can be adjusted over time if your sales volume fluctuates.
Merchant Cash Group is an excellent funding provider that will help you get the working capital you need even if you have a bad credit score.
Why Do Small Business Owners Need Merchant Cash Advances?
Every business owner has a few common responsibilities, and problems occur when there is a lack of funds to cover the financial side of things. Here are a few reasons why small business owners may need a business advance:
Growth or Expansion: With a growing demand from your customers, a merchant cash advance may be ideal for expanding your current space, opening a new location, buying additional inventory or adding employees to increase your capacity.
Seasonal Sales: If your business is seasonal, you will have times when sales are slower than usual. A merchant cash advance can help you cover your bills during those periods.
Taxes: Every year small business owners deal with the task of paying Uncle Sam, and they can’t afford to miss payroll or run out of inventory. A business cash advance is an excellent way to cover those costs during tax season.
Contact Us Now
Merchant Cash Group can quickly approve you for a cash advance and send the money to your business bank account in as little as 24 hours. All we require is your last 3 months of business bank account statements to ensure that your sales are consistent, and you are averaging at least $5,000 in sales per month.
If you’re a business owner that feels like you’ve run out of options, choose Merchant Cash Group as your funding partner, and we will help you reach your business goals. All you have to do is complete our 5-minute online application and submit your business bank account statements. It’s really that easy. Our funding specialists are ready to assist you. Don’t wait! Get the funding you need today.