Looking to make an investment in your business? The merchant cash advance option from United Funding Group can help you grow faster and provide the resources you need to move forward with confidence. In this guide, we’ll discuss the basics of what a merchant cash advance is, how it works, and whether it’s right for your business. We’ll also answer common questions about how to qualify for one and how much funding you might be able to get through this kind of loan.
What Is a Merchant Cash Advance?
A merchant cash advance is an advance made to a business based on its future credit card sales. The business agrees to give its future credit card sales over to its merchant cash advance provider. In exchange, they receive money today in order to cover operating expenses and other day-to-day costs of doing business. To simplify things, you can think of it as someone buying your credit card sales in bulk so that you can receive payment today instead of 30 days from now. They take on all of the risks, which means if you don’t sell enough product, there’s no need for them to pay out anything; but if you do sell enough product, then they make money too.
Types of Loans Offered by United Funding Group
United Funding Group has more than 30 years of lending experience and a full suite of lending options available, including merchant cash advances. With fixed monthly payments and competitive rates, merchant cash advances are an ideal way to grow your business. And with no collateral required, credit scores aren’t important. If you want access to funding but don’t have an extensive financial history or high credit scores, it might be difficult—if not impossible—to find financing from another source. That’s where we come in. We offer fast loans backed by collateral as well as small-business lines of credit that can be accessed whenever needed. No matter what kind of loan you need, United Funding Group will work with you to determine which type works best for your company’s needs.
Benefits of Working with UFG
When you work with United Funding Group, we’ll help you understand how merchant cash advances work. With us, you can easily qualify—and we’ll guide you every step of the way. In fact, with UFG, it’s easy to see why our clients choose us time and time again: whether you need a business loan or any other kind of financing option that makes sense for your business plan; we’ll help guide your company through each step of its growth phase.
The Easy Process
Most merchant cash advance providers are willing to offer loans up to $500,000. The funding amount you need will vary depending on how much money your business is losing each month and how fast you want or need to get back on track. You’ll be required to provide financial statements and other documentation, but your business won’t undergo any invasive audits from United Funding Group—it’s as simple as 1-2-3.
How Much Can I Borrow?
If you’re considering getting a merchant cash advance, you may be wondering how much you can borrow. In most cases, business owners borrow anywhere from $30,000 to $500,000. There are two factors that affect how much money a merchant cash advance lender will extend: 1) your monthly revenue and 2) your credit history. The higher your revenue and your credit score, the more money you’ll likely qualify for in an MCA loan. Please visit our website to learn more about how much we offer on our Merchant Cash Advance products.
Here are resources about merchant cash advance loans from United Funding Group. These may help you understand more about it and take the steps to apply. If you have any questions, please feel free to contact our team. We cannot wait to hear from you!