It is very important to know that a merchant cash advance is not a loan in the traditional sense. This is a sale whereby online lenders only agree to purchase your business’ future credit/debit card sales at a discount. With this form of lending, the two parties sign an agreement on the advance amount to be given and the percentage of the credit sales to be deducted.
Merchant cash advance lending is suitable for those small business owners who have been struggling to get approved for a traditional business loan. This is because the online lenders only do not require credit rating or collateral to accept a business owner’s request. With merchant cash advance lending, the approval is based on the performance of a business and not the personal credit of the business owner. It is also not based on how long the business has been in operation or its finances.
Running a business that entails a lot of organizations and planning while you don’t have to worry where to source sufficient working capital can create an incredible difference. The last thing you want when ensuring that you run a smooth business is to forget to pay back your debt. In this case, all you want is a reliable independent sales organization who will connect you with trusted online lenders only who will ensure you will have a hassle-free repayment plan. As a business owner, you also have a chance to save more checks since your payments are automatically deducted from your credit card receivables with unfixed monthly payment.
It is evident that the majority of small business are experiencing hard times when it comes to getting a business funding. Merchant cash advance provided by online lenders only is the best alternative since it provides the perks of the payment being a portion of your daily credit card sales. This means that once your business experience slow months, you will pay less.
With the help of an individual sales organization, a business owner is mandated to work with online lenders who will offer the most convenient and effective means of business funding.
What is an individual sales organization?
An ISO is an individual or group of people who have taken the role of connecting small business owners with merchant cash advance lenders. An ISO acts as an intermediary whereby they will gather information about your business and apply potential online lenders only at a fee. Once you accept the merchant cash advance offer that an ISO agents get on your behalf, either you will pay them directly that fee will be incorporated in the cost of your merchant cash advance. A good individual sales organization will charge you once you have successfully obtained the advance.
Note that ISO service will provide you with the convenience you need. Rather than submitting numerous application on different online lenders only websites, you just submit one application and get offers through the ISOs thus saving you time. They will as well find the best merchant cash lender for your unique situations.