Benefits of Money Loans Online for Equipment Financing

money loans online

When a business only has a storefront and employees, it can be a bit less expensive, but if you throw in equipment like say for a Deli or pizza parlor it can get costly. This means you need ovens, as well as refrigeration and nothing smaller than commercial size. We aren’t talking about your spare basement fridge you have at home. Along with that, warranties and insurance. The monthly cost can be astronomical and it can be a delicate situation in the first few years of operation  if anything goes wrong. For those exact reasons is why money loans online through merchant cash advance providers can come in handy.

Some Loans are not Really Loans:

Hearing the word loan can scare any new business owner away, but we’ll bet you didn’t know that there are other options that are not really loans at all. The best option is an MCA {Merchant Cash Advance} money loans online. What they really are is a cash advance, you are given the funds you need for your unique circumstance. The best thing about it is the way you get to pay it back. The MCA company and you will agree to a set percentage of future sales we will explain the process clearly next.

Read More: How to Get a Small Business Loan in 5 Steps

Easy MCA Money Loans Online Procedure

The procedure for MCA money loans online is simple and easy. The way this is done is through the convenience of a broker facilitating online loans bad credit. They do the legwork for you after you fill out a simple application form online. The broker will typically take no more than 24 hours to screen the right MCA companies for you. Then you can make an educated choice as to who you would like to work with.

The main requirements and metrics are as follows:

  •     Must be in business from 6 months to a year. Some MCA companies will require something in this range. They want to be able to see a clear track record.
  •     Must show at least 3 to 6 months of credit and debit card sales. This is so the lender gets a clearer view of your revenue stream for as long of a period of time as possible.
  •     If you are using it for equipment purchase and using equipment as collateral which sometimes happens if the business has bad credit. In this case the lender will typically not have the length of the agreement past the point that the equipment is meant to last.

Once the decision is made all you do is work and the repayment takes care of itself.

What About the Lulls? Will you owe as much?

The answer is no, this is one of the great things about this type of repayment plan. This type of lender knows and understands business fluctuations and unlike banks, they will work with that. It’s in the best interest of the business and the lender to do so. So, this means you pay less when sales are down and more when they’re up. This is a priceless situation because it means no more stress and hassle for you.

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