Having good credit is a very important factor to getting a business loan. The higher your credit, the more loans you’ll have access to, and the better rates you’ll be offered. Frustrating as it may be, applying for a business loan (or other sources of funding) can have a negative effect on your credit. Knowing […]
Archive for the ‘Merchant Cash Advance’ Category
When it comes to loans, we like to talk a lot about comparison shopping here at Merchant Maverick. And while we provide a lot of handy information here, it’s best to consider our website as just one of many tools in your box. So what are some the best small business loan resources you can […]
Although factor rates and interest rates appear similar, there are some important differences which potential borrowers need to be aware of. Fixed fees (the fee determined by a factor rate) are only calculated once, before the loan is issued. The fee will stay the same, regardless of how long repayment takes. On the other hand, interest rates are accrued over time—the longer your loan is outstanding, the more fees will build up. Read on for more about the difference between factor rates and interest rates.
Merchant cash advances (MCAs) and short-term loans (STLs) are an easy way for merchants to borrow cash for business purposes. Although these types of financing often get a bad rap, many legitimate business funders offer merchant cash advances and short term loans. However, because these types of funding are still relatively new and often misunderstood, some […]
When an emergency strikes, a sense of panic can quickly set in. With the clock ticking down, you don’t always have the time to make the best decisions; you need money fast. It might be tempting to shake the first hand offering you money, but before you jump into a situation that could quickly escalate […]
You made a plan. It was a good plan. It was practical and well thought-out; it accounted for all expected hurdles. But then something happened that you weren’t expecting and you don’t have the funds to cover it. Now you need an emergency loan. The good news is that you’re not alone. In fact, your […]
You may have heard about a new craze sweeping the small business world: rapid funding for small businesses with steady cash flows but poor credit. Online funders now offer cash advances to a broad swath of small businesses that would historically have had a hard time qualifying for a business loan for a bank. But, […]
Have you been thinking about getting a merchant cash advance (MCA)? Perhaps you’ve seen some fancy ads promising fast approval, easy qualifications, and funding within 48 hours. The good news is that those aren’t pie-in-sky targets. It is, indeed, possible to get your money that quickly and easily. The bad news is that there are […]
Did you know that you can be approved for thousands of dollars of funding within 24 hours, even if you have poor credit? It’s true! Though, odds are, if you have a small business and an internet connection, you know this already. That’s because the merchant cash advance funding industry has blown up over the […]
To repay your loan in a timely manner, it’s important to know whether or not your payments are fixed or variable, how often you have to repay, and how repayments are made. In this post, we’ll break down all the elements involved in paying back a business loan.