3 Signs Your Small Business Needs a Merchant Cash Advance

For some small businesses, cash flow is always a concern. You may be struggling to get by on the money you bring in each month, or your customer base may not be growing as quickly as you’d like. Either way, the cash on hand may not be enough to cover the bills and keep the business growing. Fortunately, there are ways you can use a Merchant Cash Advance from United Funding Group to start getting the capital you need without having to take out any loans at all! Read on to learn more about Merchant Cash Advance services and how they can benefit your small business today!

3 Signs Your Small Business Needs a Merchant Cash Advance

  • Are you experiencing cash flow issues? 
  • Are you finding it difficult to get approved for business loans? 
  • Do you want to grow your business? 

If you answered yes to any of these questions, then United Funding Group offers merchant cash advances as an alternative. With our Merchant Cash Advance services, your business can receive between $5,000 and $500,000 within 24 hours. And because merchant cash advances don’t require collateral or personal guarantees—you won’t have to worry about signing away your house or car.

Merchant cash advance explained

A merchant cash advance (or MCA) is a type of financing that’s often used by small business owners to help them buy inventory and/or keep their doors open while they wait for customers to pay invoices. But what exactly is an MCA? And how does it work? In short, it’s a line of credit you can tap into to purchase goods or services from suppliers (and, in some cases, other business essentials like rent or payroll). The funds are borrowed against your future sales—so there’s no need for collateral or upfront fees. United Funding Group provides Merchant Cash Advances nationwide. Contact our team today to learn more about how MCAs can help your small business reach its potential!

Why small business owners need small business loans

Most small business owners don’t need to think about what it would be like to not have a small business. But as any successful entrepreneur will tell you, starting and running one isn’t easy—and there are some situations in which your business might require external help in order to get over a financial hurdle.

How merchant cash advances help small businesses

One of United Funding Group’s specialties is working with small businesses. If you’re running a small business, chances are you’ve run into some cash flow problems along the way. A merchant cash advance can help solve those problems. These advances get paid out in one lump sum and offer repayment terms as long as 24 months!

Questions? Reach out today!

Contact United Funding Group at (954) 287-4539 to learn more about our Merchant Cash Advance services for small businesses. No obligation, of course! When it comes to your business’s future, there are many factors to consider – and luckily we can help you navigate them all.  You can apply now – and contact us with any questions.

For more information or answers to any questions, you may have, call us at (954) 287-4539 today!

What Is The Difference Between Revolving & Non-Revolving Lines Of Credit For Merchant Cash Advances?

In this article, we’ll define the two most common types of lines of credit used by Merchant Cash Advance companies: revolving and non-revolving credit lines. 

There Are Two Different Kinds Of Loans Available

Revolving & Non-Revolving. Which One Should You Choose? If you’re considering getting a merchant cash advance, two main kinds of loans are available: revolving and non-revolving. But what do these terms mean? Well, in general, they refer to whether or not you have to pay back your loan in full each month. 

A Revolving Line Of Credit

When you open a revolving line of credit with United Funding Group, your business is provided with a credit limit to purchase goods and services. This gives you flexibility in funding your business as needed, rather than having one lump sum of funds available all at once. Once approved for credit, you may request to draw on your line of credit up to your specified limit anytime within its terms. You may also choose to draw less than your full line amount each time, as long as you stay within the set limits for your term.

A Non-Revolving Line Of Credit

Another type of merchant cash advance is a non-revolving line of credit. This means that you don’t have to pay back every penny of your loan in one lump sum. Instead, you will be charged interest on only what you use, and are free to pay back as much or as little at any time. This type of MCA is perfect for businesses with seasonal highs and lows. It is also useful for helping keep small business owners out of debt by allowing them to make payments before they get there! Additionally, a non-revolving line of credit offers immediate access to funds instead of waiting 30 days for funds from a bank loan.

Step 1 – Choose An Appropriate Loan Type

While there are many different types of credit lines for business owners, you should choose a revolving or non-revolving line of credit depending on your needs. If you plan to use part of your loan right away and will be able to replenish it at some point in time, then revolve is most appropriate. If you’ll only need part of your loan immediately and don’t intend to use it all up right away, then non-revolving is most suitable.

Step 2 – Evaluate Your Borrowing Profile

It’s important to evaluate your borrowing profile before you start applying for a merchant cash advance (MCA). Some companies that provide merchant cash advances may look at whether you have other credit lines available, such as business credit cards or a line of credit with your bank. It is also important to make sure you have enough savings in order to meet your short-term and long-term financial obligations, including taxes and operating expenses. You will also want to look at how much net income you have coming in each month. After all, if you do not have enough money coming in to cover debt payments for your new loan, things can get complicated rather quickly.

Step 3 – Secure Reasonable Amounts

It is important to request a reasonable amount of money when applying for a merchant cash advance. Remember, you are using your business’s future cash flow as collateral. Try to get between $5,000 and $500,000. That should be more than enough to give your business a boost while being approved by almost every MCA lender in today’s market.

Step 4 – Get Pre-Approved Immediately!

Getting pre-approved for a Merchant Cash Advance is almost effortless; all you need to do is have your business credit card statements, bank statements, and tax returns in hand to ensure that your business is stable and profitable. You will also be asked for current annual gross sales receipts. Most lenders require that you have done at least $100,000 in annual gross sales before approving an MCA. If you want to get a quick pre-approval on your own, click here!

Contact United Funding Group, the Merchant Cash Advance Experts

With more than 25 years of experience in business, you can count on United Funding Group to help your small business grow. Our team is dedicated to providing advanced financing solutions tailored to meet your business needs, including merchant cash advances, accounts receivable funding, and inventory financing. 

With a wide array of products and services backed by our industry-leading customer service, United Funding Group has become one of today’s most trusted sources for merchant cash advances. Contact us today to get started!