See more in Miami's Business Funding Guide
Merchant Cash Advances are not loans but can help businesses by solving temporary cash flow issues. They are best used for unplanned expenses or to purchase inventory. These can be useful when a business does not have enough time to look for a loan, but they are not recommended because of the high cost associated in paying it back.
These advances work best for businesses that have daily deposits and credit card transactions. This funding is not credit based, but takes into account the cash available in your bank and the number of daily transactions.
Don't be tricked by how easy it is to apply. The easier it is to get financing, the more expensive it usually is to pay back.
Ideal for businesses that:
Have a high volume of credit card transactions and daily deposits.
These lenders are known for:
Being able to provide funds quickly but at a VERY expensive rate.