A merchant cash advance is a popular financial option among small businesses owners. For these who have small businesses, this type of financing is appropriate, because it requires no collateral that can be demanded for a business loan. This guarantees that your assets, for example, your home, will stay untouched.
The other advantage of a merchant cash advance loan through Personal Money Service that attracts many borrowers is that you may have low credit score or bad and short payment history. So, borrowers who aren’t qualified for traditional financing tend to use this option.
Extra benefit is that MCAs are quick and require not so much paperwork. You will need to show credit card receipts with bank statements to check your business’ financial solvency.
Small business owners also take advantage of a repayment percentage that is taken out of your sales. So, you will pay according to the business development, but not a fixed rate. This guarantees some stability to your business with no financial destruction due to high payments in difficult periods.
If you are still not sure, read our previous answer about what merchant cash advance is.