Merchant Cash Advance in Bergen County, NJ
Provide immediate access to funds based on future credit card receivables
MCA Financing in Bergen County, NJ
If you are a New Jersey business owner, chances are you know how tough it can be to manage your cash flow. More than ever before, business owners are finding it increasingly difficult to obtain traditional loans. Even for reputable companies, obtaining a loan approval has been strained. For individuals with poor credit, they may be wondering how they can acquire capital. A merchant cash advance in Bergen County, NJ is designed with you in mind.
With JSV Capital, business owners can get capital fast and keep their company running. If you are wondering what a merchant cash advance is and how it differs from a traditional loan, we have the answers to your basic questions below.
What is a Merchant Cash Advance?
A merchant cash advance is a practical, hassle-free way to obtain capital quickly. It is an ideal financial alternative to traditional bank loans that don’t always guarantee approval and may damage your credit. But with a merchant cash advance (MCA), there are no damaging long-term risks to your credit. A merchant cash advance is essentially a down payment on a company’s future revenue where lenders are buying into your future. Business owners are paid back in a defined amount of time-based on the businesses’ future credit card receivables.
The business owner is responsible for paying the lender in flexible, weekly installments. The amount is automatically deducted from the business owner’s account, based on the business’s profit for that week. If no profit is made for that week, then there is no payment required.
Merchant cash advances offer higher approval rates, flexible down payments, and more financial freedom for business owners. Additionally, these options are a purchase rather than a standard loan and can be disbursed in a matter of a few days.
How Does a Merchant Cash Advance Work?
There is no extensive process, approval period, or credit check when you apply for a merchant cash advance through JSV Capital. With a 70% approval rating, it is an ideal option for anyone who has already been denied a traditional loan through a bank.
Merchant cash advances are based on how much business owners make per week (or per day). That way, each payment made is proportional to your business’s profits. So, if you don’t make money that week, then you don’t pay.
While merchant cash advances don’t have interest rates, they do have factor rates. Factor rates function like interest rates, but the total amount you pay the merchant cash advance is multiplied by its factor.
For instance, a merchant cash advance totaling $1,000 with a factor of 1.1 would mean that the total amount owed is $1,100. Since merchant cash advances are rated on the amount you pay, there is no need to worry about interest. Instead, it’s more like a full fee that business owners pay at their own pace.
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How to Apply
What Do I Need to Qualify for a Merchant Cash Advance?
There is no credit check and no collateral when you apply for a merchant cash advance with JSV Capital. Business owners will be asked to supply tax documents or business history documentation for approval.
Because merchant cash advances are essentially the purchase of future sales, business owners may be asked to prove that their company has revenue. This may include records of credit card purchases. Lastly, business owners should have a positive cash flow and have been in business for at least three months. So, apply today for a merchant cash advance and take the first step towards financial freedom with JSV Capital!
How Much Funding Can I Get?
The amount of funding you can receive for a cash advance is determined more so by your business’ sales performance, plus a couple of other factors. To learn more, speak with our specialists at JSV Capital about your financial needs.
Inquire about our Business Loan programs.
We are one of the most trusted sources for merchant cash advances. Unlike most lending companies, JSV Capital provides access to quick and affordable small business funding options for all types of businesses.
We pride ourselves on being a small business financing and funding partner that helps facilitate growth while always providing exceptional, dedicated service. Talk to us today about how we can support your growth, limit your turnover, and put you on a solid track to success and profit.
Apply For Merchant Cash Advance Financing
No cost to apply. Applying will not impact your credit score.