Merchant Cash Advance – The Business Loan Alternative
Credomatic understands the difficult business environment and offers a Cash Advance Program of up to $1 Million to help merchants move forward.
How is a cash advance different from a traditional business bank loan?
Traditional business loans will require security or collateral, good credit and a long business history. Newer businesses and business owners with a less than perfect credit history may still qualify for cash advances.
How does it work?
Credomatic advances cash to the business and an automated system is set up to repay the cash advance through withholdings from credit card transactions – repaying a portion of the business cash advance every time a customer makes a purchase.
How Can I Use a Merchant Cash Advance?
Once you have been approved for a merchant cash advance, the funds go straight to your bank account and may be used for various business needs, including:
- Business Expansion
- Product line extensions/seasonal merchandise
- Unexpected expenses
- Marketing programs
Cash Advance Features:
- Receive up to $1 Million in working capital
- No up-front fees
- Simple application process
- No closing fees
- No fixed monthly payment
- Visa / MC / Discover
- No reporting to Credit Agencies
- No Collateral Required