There are times in everyone’s life when the financial situation goes through a rough time. Merchants too face a cash crunch. In such unfortunate scenarios, several operations of a business get adversely impacted. Important purchases, repaying funds or any other unforeseen payments can force them to take major disheartening decisions such as mortgaging the house, using credit cards, sell gold, etc. to obtain required funds.
In this article, we will tell you about the features of this service.
Features of Merchant cash advance service
- Easy funds
When you approach a bank for funds, they would ask you a series of questions before sanctioning the funds to you. Their process of verifying the identity and ensuring the credibility of an individual in the form of depositing a collateral etc. takes three to four business days in approving your funds. This not only delays and worsens the condition, but also adds anxiety to it.
Merchant cash advance service understands the severity of the situation, troubles and unexpected financial crunch that can appear in any business. They have easy terms and conditions and upon fulfilling those terms, a merchant is provided with the accelerated merchant funding of the desired amount on the very next business day.
- Hassle free process
When a merchant applies for funds, they are requested to submit bank statement of last six months and six months of credit card traffic as proof. Both of these documents helps them to specify the funds a merchant can easily and promptly reimburse back to them.
This will help in clearing the terms between the funds sanctioning firm and the merchant before starting the funds sanctioning process. The amount for which funds are sanctioned gets linked to the credit card of the merchant. That is why providing regular credit income will help in securing the working capital a merchant aims for.
- It is not a loan
A Merchant cash advance (MCA) service is not a loan but a type of funding. MCA provider accomplishes it by buying a specified dollar amount of the credit card and debit card receivables of the business in future.
Now to repay the amount, in place of reimbursing in the form of one big fixed monthly payment, a fixed percentage of the revenue from the debit card and credit card gets debited automatically till the entire funding is reimbursed to the MCA service provider.
Vision Payment Systems is world’s most trusted company in providing accelerated funds to all qualified merchants. Our quick and reliable funding system enables merchants to get required funds on the very next working day of application. This prevents any delay in the execution of their tasks such as paying debts, buying a commodity, etc. Our service takes away all the stress and anxiety from the merchant during their hard financial period. We provide different types of modes of fund transfer such as Visa, MasterCard, PIN Debit, and Discover.
Thus, merchant cash advance service understands the critical condition of merchants in such troublesome times and provides them easy accelerated funding to meet their sudden and unexpected financial obligations comfortably.