If you own a retail store and wonder if a merchant cash advance can be beneficial, the answer is yes! Merchant cash advances are specifically formulated to suit retail business owners.

Lenders can provide merchants with initial sums in exchange for a small percentage of future business credit card sales. It may be best for a retail store owner to take advantage of this opportunity, as other types of businesses are not eligible for merchant cash advances as they do not process credit card transactions regularly.

The way it works is simple. You (the retail business owner) fill out an application. You will most likely need to submit up to six months of your company's most recent credit card statements. Lenders review these statements and based on those figures, they can come up with an amount that they are willing to lend.

They will also determine what percentage of your business credit card sales will go towards repaying your merchant's cash advance and the fixed rate you will pay to receive the money. This fixed rate is not like interest from a bank. Instead, you pay a flat fee for the money that does not increase based on the time it takes to repay the advance.

Every time your business makes a sale, your merchant's cash advance is one step closer to being settled. You don't need to visit the lender to drop a payment, mail a loan payment, or make payments online. The automatic checkout process allows the normal business operations of your retail store to support your refunds.

As a retail store owner, there are probably a lot of things you could use a little extra money on. Maybe you want to expand your store, buy advertising space on billboards, or hire more employees, the choice is yours. You can choose what is best for your business and finance your business with your merchant cash advance.

So what happens if you get a merchant cash advance, and later decide you can use another one? To the retail owner's advantage, most commercial cash advance lenders offer borrowers the opportunity to renew. Some even allow borrowers to roll over their accounts after only 60 percent of their previous advance has been repaid. Generally, the renewal process is even faster than the process of receiving the initial cash advance from the merchant, because your information is already on file. Not to mention, even if it's your first time to apply, some lenders can approve your advance in as little as 48 hours after receiving an application and can fund your account in as little as seven days after approval.

Why not consider a merchant cash advance for your retail store? With a merchant cash advance, you can quickly fund your business without collateral or an excellent credit rating. https://mattscash.com/

Author's Bio: 

The nature of the merchant cash advance product requires that business owners have a positive need for this alternative financing product.