Traditional bank loans don’t appeal to many small business owners for a variety of reasons. Perhaps you have just launched your start-up and don’t have much of a business credit history yet. If the lender asks for collateral, you may feel hesitant about offering a personal possession such as your car or home. The long list of requirements and approval times that can take weeks to months can dissuade you from applying for a bank loan as well. We understand your frustration at OneClick Commercial Funding and would like you to know about the merchant cash advance option.

How a Merchant Cash Advance Works

This type of alternative financing works best for businesses that regularly accept credit card payments from customers. Restaurants, retail stores, and service companies are just three examples. The lender provides you with a lump sum of cash upon approval of your merchant cash advance loan. You then repay it over time with daily deductions from your credit card receipts. Of course, the lender also adds interest to this total. The time from application to approval can be as short as a few days compared to weeks or months.

The Lender Takes a Percentage of Daily Receipts

Like many businesses, you may conduct more transactions on certain days of the week or seasons of the year than others. One benefit of a merchant cash advance is that it allows you to pay back only a percentage of your credit card receipts and not a set amount. If you’re paying back one percent per day, for example, the amount you remit would look much different if your total was $1,000 compared to $10,000. That means you don’t have to worry about falling behind financially during slower periods.

OneClick Commercial Funding Offers the Merchant Cash Advance and More

We are proud of our flexible financing options for business owners. Please contact us today to start an application or learn more about this and other options.