Learn About a Merchant Account Loan
By: The Funding Team
Merchant account loans allow business owners to leverage their future sales and turn them into cash today. Unlike banks, Merchant Cash Advance providers believe that your electronic payment potential is more important than your credit score.
While the amount you can draw down does have limitations, you can receive more than enough to take advantage of opportunities. For example, if you process $5,000 a month in credit card sales, a merchant account loan of $250,000 is not possible, but an amount up to $15,000 is. Rather than pay a fixed amount monthly, a percentage of each card payment transaction is withheld and automatically applied to your balance. This percentage is not uniform throughout the industry and completely depends on your individual business situation, the size of the loan you take, and the program you choose.
Our funding experts will gladly walk you through the application process and answer any questions you have. Contact us through the website today.