Apply Today for Your Merchant Cash Advance
A merchant cash advance is a little different from a regular loan, but it’s still designed to provide you with working capital so you can meet your business needs. If you’ve ever been turned away by a bank for a regular loan, ask Overhead Capital about our cash advance program. It’s a good solution for businesses that need as much as $200,000 per location.
How a Cash Advance Differs From a Loan
A cash advance differs from a loan because the funds you receive are taken against your merchant account. This means that a portion of each credit card sale your business makes in the future will go toward repayment of your cash advance. It doesn’t matter what type of credit card your customers choose to pay with. An agreed-upon percentage of each credit card transaction helps to pay back your advance.
Advantages of a Cash Advance
Do you have a hard time remembering to make credit card or loan payments each month? You don’t need to worry about set monthly payments when you get a cash advance. Here are a few more notable benefits of this program:
- No collateral required
- Funds arrive very quickly
- Minimal paperwork required
- No equity loss
- No application fee
The money you receive is yours to spend however you like. Whether you choose to put it toward inventory, payroll or marketing is completely up to you. Contact us today and we’ll send you an application for our merchant cash advance program.