Also called merchant cash advances, this method of procuring money once had a bad reputation. Essentially, you work with your merchant account company to take an advance on your future credit and debit sales. Afterwards, you pay back the advance through a percentage of your credit and debit transactions.
In the past, the terms for this advance were insufferable: outrageously high interest, impossible deadlines, and necessary renewals. Fortunately, most business cash advance providers have updated the process to make these programs more manageable for small businesses. Today, it takes minimal paperwork to apply for a cash advance, so you can get your hands on cash in a matter of hours.
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