Understanding the Basics of a Merchant Cash Advance

1. Understanding the Basics of a Merchant Cash Advance

2. A merchant cash advance, also known as a business cash advance is a lump sum amount given to an applicant based on the expected future sales. They are the most popular alternative finance solution for small businesses. The primary reason for this popularity is the fact that merchant cash advances are not based on the credit score of the applicant, are easy to apply and are usually approved in a matter of days.

3. Companies such as Crest Hill Capital have helped hundreds of small business owners to meet cash demands as and when they crop up. Let us look at the various aspects of this type of funding.

4. The Information Required Lending companies may ask various questions on their application form to understand your business model and the need for the advance. Crest Hill Capital, for instance, asks applicants their name, the name of the company, contact details including phone number and an email address, the URL of the company website, how long the applicant has been in business, the average revenue generated per month, the average credit card processing volume per month, the amount required and the time within which the cash advance is required.

5. This information helps them determine the amount of cash advance that the applicant is eligible for. If applicants face any problems during the process of application, they can always reach out to the customer support team by registering Crest Hill Capital complaints, and they will be addressed immediately.

6. The Application of the Cash Advance Conventionally, cash funds are available only for specific purposes and the money received cannot be used for any other purpose than what was stated in the application. Merchant cash funds from Crest Hill Capital, however, can be used for any business-related purpose.

7. These could include purchase of inventory, maintenance of equipment, and payment of salaries of employees or just to bridge the gaps in cash flow during a particularly slow season. In fact, Crest Hill Capital does not even ask any prying questions about the specific purpose for which the cash advance is being requested.

8. The Model of Repayment One of the most attractive features of a merchant cash advance is its repayment model which is convenient and stress-free. Normally, bank advances have to be repaid in a lump sum at regular intervals. However, this proves to be quite difficult especially when the business faces a slow season. On the other hand, merchant cash advances, do not have to be repaid in a lumpsum.

9. A percentage of the sales is directed towards the repayment of the cash advance. This means that during a season of high sales, more of the cash advance can be repaid and during a particularly slow season, a lesser amount can be paid back. The repayment model is flexible and does not hamper the day to day functioning of the business. Crest Hill Capital complaints are almost unheard of because the company takes their responsibility very seriously. They are dedicated to finding the right financing solutions for their clientele.

10. Contact Us CREST HILL CAPITAL LLC Phone 800-828-0452 Fax: 212-743-0622 225 Clematis Street, West Palm Beach, FL 33401 Website: https://www.cresthillcapital.com/