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

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

The way it works is simple. You (the retail business owner) complete an application. Most likely, you will need to submit up to six months of your business’ most recent credit card statements. Lenders review these statements, and based on those numbers they are able to 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 the repayment of your merchant cash advance, and the flat rate that you will pay to receive the money. This flat rate is not like a bank’s interest. Instead, you pay a flat fee for the money that does not increase depending on how long it takes to repay the advance.

Every time your business makes a sale, your merchant cash advance is one step closer to being paid off. There is no need to visit the lender to drop off a payment, mail a loan payment, or make online payments. The automatic payment process allows your retail store’s normal business operations to support your repayments.

As a retail store owner, there are probably many things that you could use a little extra money for. Maybe you want to expand your store, purchase billboard ad space, or hire more employees, the choice is yours. You can choose what is best for your business and finance your business venture with your merchant cash advance.

So what happens if you get a merchant cash advance, and later on down the line, you decide that you could use another? To the retail owner’s advantage, most merchant cash advance lenders offer borrowers the opportunity to renew. Some even allow borrowers to renew their accounts after only 60 percent of their previous advance has been repaid. Usually, the renewal process is even faster than the process of receiving the initial merchant cash advance, because your information is already on file. Not to mention, even if it’s your first time applying, 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 get fast funding for your business without collateral or an excellent credit score.

Gaston C. writes articles about Merchant Cash Advance [http://www.cashprior.com/cash_advances.php] for Merchant Resources International.

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