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Education

MCA, a win-win for the lengthy application process, bur-
dens of high-interest rates and fees,
retailers and resellers and restrictive policies that typically
come with traditional bank loans.
Cash advances offer even more ben-
efits than those I just mentioned—for
retailers and resellers. This article of-
fers a primer for individuals new to
the payments business, and a refresh-
er for experienced professionals who
haven't focused on their cash advance
offerings lately.

A cash advance is easier to
obtain than a bank loan
By Elie Y. Katz
National Retail Solutions Cash advances are significantly easi-
er to apply for than bank loans and, if
ometimes a rainy day fund isn’t enough money for merchants who approved, put money in a merchant's
need cash quickly to cover emergencies in the store. When the bank account in an expedient fashion.
freezer breaks down with thousands of dollars of inventory in it, Applying for a conventional bank
S for example, or employees must be paid right away to prevent them loan is a job in itself. The application
from quitting, being able to obtain cash funding quickly is critical. process can be complicated, long and
difficult.
A retailer may turn to a traditional bank for a loan; however, this may not be
the best course of action. If one of your merchant clients is in this position, ask For instance, the process includes ask-
them to consider applying for a cash advance, which will allow them to avoid ing for various documents that may
not be immediately accessible, which
delays the application process. Bank
loan agreements can also include fine
print, hidden fees and excessive inter-
est rates. On the other hand, cash ad-
vance applications can be completed
in 10 minutes. The paperwork is clear
and to the point, making it simple to
grasp the application's requirements.

Bad credit? No problem
Cash advances have another advan-
tage over bank loans in that no col-
lateral is required. If a merchant falls
behind on repayment, a cash advance
company won’t be repossessing their
car or taking an interest in their store.
Instead, their provider will help them
out by making a payment plan.

Also, while banks look poorly upon
lousy credit, a retailer’s bad credit
score does not preclude obtaining
cash advance funding. That is be-
cause cash advance providers look
at other factors, such as a merchant's
credit card receipts over a given pe-
riod, to make funding decisions.
Cash advance funding is fast

After a merchant embarks upon
the quick and easy cash advance

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