Unlike regular bank loans, there are no fixed weekly or monthly repayments on a merchant cash advance. You simply pay back a small percentage of your credit and debit card sales, which means that you only pay us back when you sell to your customers.
So when sales are down, the repayment amount is also low which helps you manage your cash flow, especially during quiet months. Instead of charging you interest on the advance based on the length of time it is outstanding, there is a single, all-inclusive costadded to the cash advance, so there are no APR’s or late fees.
Best of all, the application process is much simpler than for a regular bank loan, and your merchant cash advance will be approved in 24 hours and you can have the funds in your bank account within days.