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Are you scared that the worldwide credit crunch will leave your business with inadequate funds? Is a poor credit score holding you back from securing funds for your business? Is the risk of putting your private assets at stake keeping you from applying for a bank loan? Would you be interested in a financing alternative that is not only fast and hassle-free but also does not need a collateral? If yes, then merchant cash advance or business cash advance is ideal for your business.

Dangers in staking personal assets for a business loan

Although home equity loans offer low interest rates, lengthy repayment schedules and tax deductible interest reduces their practicality for small businesses. If your business ventures start to turn a loss, your house can be claimed by the bank.

Similarly, when you offer vehicles as collateral, you give your bank possession of vehicle’s title. In case you miss your loan repayments and your loan defaults, lender has the right to claim your vehicle. Taking on a secured loan is an extremely risky option in these economically unstable times. You can steer clear of this pitfall with merchant cash advance.

How can merchant cash advance providers lend without pledging securities?

Pledging a guarantee has been an indispensable part of the business of loaning money since its inception. They are a lender’s defense against default. So what makes merchant cash advance providers not need the security of a collateral?

Let’s go into what makes merchant cash advance funding successful without a collateral. First, in the networked and easy-access internet age, it is straightforward for providers to recognize real borrowers and creditworthy businesses from those not so successful. To evaluate your eligibility, lenders check your credit card sales volumes, which can be accessed easily and confirmed. Secondly, that repayment is not a choice after you sign the agreement. Since installments are deducted through the credit card payment system, lenders are pretty much covered.

Great thing about this type of loan is that the providers only charge a percentage that allows you to comfortably maintain regular operations. As part of the agreement, a fixed percentage of your monthly credit card sales receipts are paid out to the provider. This functions well as your daily repayment is reduced when sales are slow and do not turn into an needless burden.

Matching funding solutions to business situations

While a home equity loan may be more suitable in a number of situations, business advance is perfect when you are looking for low-risk, speedy and hassle-free financing. The fall of the credit industry post the recession and zero collateral makes these loans just right to pull up struggling small and medium-sized businesses. It is senseless to depend on slow and risky banks loans when superior options are on hand. Business advance is the newest advancement in commercial lending. Remember, nothing matches no collateral in funding and merchant cash advance is the current leader in current economic crisis. Daljeet Sidhu is the author of this article.