A Nevada LLC creates a corporate veil, helping protect your personal assets from business liability. Nevada also has the lowest taxes in the country when it comes to your business!
With business credit, you’ll be able to secure business loans without having to use your personal assets as guarantee or collateral. If you have bad personal credit, but proper business credit, you’ll still get approved!
When a professional CPA prepares your taxes, they can look for commonly missed tax breaks, as well as red flags that may trigger an audit. 90% of businesses will overpay their taxes by over $1 billion dollars, so don’t lose out on a chance to save money.
We have been working with Fordham for a couple years now, and they have been... read moreKC6/07/2021
A team of Professionals who did what they said .Customer6/07/2021
This is my second time dealing with Fordam. They have always treated me with respect... read moreCustomer6/07/2021
Howard and Rob have helped us numerous times with funding when we desperately needed it!... read moreJackson6/07/2021
Rob Winston and Fordham Capital is an absolute true and consummate professionals , when he... read moreCustomer6/07/2021
the process was very professional at the same time personableRIIO Group LLC6/07/2021
Howard was amazing to work with from the beginning. We were a “tricky” case and... read moreJennifer L.6/07/2021
Second round of funding was as easy as the first. Great service and people highly recommended.Rice Brothers Construction6/07/2021
Cash Advance In Lewisville
Merchant Cash Advance: An Overview for Your Denton County Business
As a Denton County business owner, you want to achieve as much success as possible, and that means having access to a steady supply of money. Unfortunately, however, sometimes things happen and you can run short on cash. Perhaps a piece of pricey equipment malfunctioned and you need to replace it, maybe you want to expand your property but you don’t have the funds to do so, or perhaps your finances have been strained and you need some extra cash to see you through until you get back up on your feet. Whatever the case may be, if you need access to funds quickly, a merchant cash advance may be the solution you’re looking for. At Fordham Capital, LLC, a leading Lewisville, TX cash advance lender, we have helped countless businesses of all sizes and across all industries get the cash they need fast. With ample experience and a proven track record of success, you can count on our team of lending specialists to provide you with fast and reliable financing at an affordable rate.
Merchant Cash Advance: An Overview for Denton County Business Owners
If there’s one thing that all Denton County business owners have in common, it’s that they want to grow their business and achieve success. In order to do that, a reliable supply of funds is necessary; as the old adage goes, you need to spend money to make money. Whether you’re thinking about rolling out a big marketing campaign to target more clients, you want to renovate your commercial space to make it more functional and aesthetically pleasing, or you need to expand your team; whatever the case may be, if you need a large sum of money for your business, you’re probably wondering how you’re going to get the funds.
Generally, when Denton County business owners need to borrow money, they head to the bank to take out a traditional loan; however, there are a few problems that come with that option. Firstly, taking out a conventional business loan can be a long, drawn-out process, and it can take a while to get the funds. Secondly, in order to secure a loan at an affordable rate, you need to have good credit. But what if you don’t have the time to wait or your credit is less-than-ideal – or non-existent? Do you just give up and pass on whatever it is that you want or need to purchase? Nope! There is another financing option that you can look into instead: a merchant cash advance.
What is a merchant cash advance? How does it work? What are the benefits? Read on to learn more about this type of Lewisville, TX cash advance and to determine if it would be a good option for your Denton County business.
What is a Merchant Cash Advance?
A merchant cash advance (MCA) is a type of short-term loan that’s specifically. It’s similar to a paycheck advance, but rather than individuals, this type of Lewisville, TX cash advance is for businesses. In short, it’s a cash advance on a company’s future sales. Typically, a merchant cash advance is intended for established businesses that have a steady stream of credit card sales, such as restaurants, health care offices, and retailers of consumer goods. With a merchant cash advance, a lender would issue your Denton County business a lump-sum payment, and then you would repay the lender the funds that you borrowed via future sales until the entire amount is paid off.
How do Merchant Cash Advances Work?
Securing a merchant cash advance is pretty simple and straightforward, and the funds are usually available rather quickly. You would fill out and submit an application with a Lewisville, TX cash advance lender, the lender will review your application, and if approved, the lump-sum payment will be deposited into an account within a few business days.
How Does a Business Qualify for a Merchant Cash Advance?
Qualifying for a merchant cash advance is relatively easy, which is one of the reasons why Denton County business owners find this type of financing so appealing. Most Lewisville, TX cash advance lenders offer an easy to complete online application and a quick turnaround time. You can apply in just a few minutes, and you should find out if you’re approved within 24 to 36 hours.
With a traditional business loan, in order to qualify, businesses usually have to be operational for several years and need to have a good credit score, but with a merchant cash advance, you don’t need to have a long-standing operating history and healthy credit to qualify. While having both may help you secure more favorable terms, if your Denton County business has only been open a short while and your credit is poor or non-existent, that doesn’t mean you will be precluded.
The main factor that Lewisville, TX cash advance lenders consider when determining eligibility is the consistency and volume of your Denton County company’s sales. When you’re applying for a merchant cash advance, be prepared to submit the following information:
- Details regarding the structure of your business
- The yearly income of your business
- Projected income growth
- Business bank account statements
- Business credit card processing statements
- Business tax returns
- Proof of your identity, such as a valid state-issued driver’s license or non-driver ID
What are the Benefits of a Merchant Cash Advance?
If you’re a Denton County business owner who needs working capital but you don’t qualify for a traditional business loan, you need the cash fast, or you just don’t feel like going through the hassle of applying for one, a merchant cash advance may be the solution you’re looking for. This type of Lewisville, TX cash advance offers several benefits, including:
- Credit doesn’t matter. Because a merchant cash advance is primarily based on the monthly cash flow of a business, your credit history and credit score don’t weigh heavily on your eligibility. While good credit can help you secure better rates, as long as your Denton County business has a steady flow of credit card transactions, you can qualify for this type of Lewisville, TX cash advance.
- No collateral needed. Since a merchant cash advance is an unsecured short-term loan, no collateral is needed, which is ideal for business owners who have limited assets, as the assets won’t be tied up as collateral for the loan.
- Fast turnaround. With a traditional business loan, it can take several weeks to receive the funds, but with a merchant cash advance, the funds can be deposited into your account within as little as 24 to 36 hours after approval.
- Flexibility. Merchant cash advances are extremely flexible. You can use the funds any way you wish, and there are lots of different payment plan options; for example, if your repayment plan is based on the percentage of your company’s daily sales, when sales are low, you won’t have to repay the lender as much. If the sales of your Denton County business fluctuate regularly, this can be particularly beneficial.
Contact a Leading Lewisville, TX Cash Advance Lender
If you think a merchant cash advance is the right option for your Denton County business, contact the area’s leading cash advance lender: Fordham Capital, LLC. To find out how we can help you secure the financing you need to increase your success, call 1-800-755-9284 or visit https://fordhamcapital.com today!
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