Businesses often suffer from cash crunch largely due to inadequate and erratic cash flow. Especially in recessionary phase, people’s buying capacity usually gets affected that leaves its adverse effects on cash flow for small businesses.
Such a situation compels the business owner to look for additional cash for bridging, rather plugging, the gaps in cash flows for smooth business operations as well as its growth.
An adequate and regular cash flow is required for every growing business for purchasing stocks, purchasing equipment, renovation, expansion and relocation, marketing and hiring new staff.
Although there are many small business loans are available but the merchant cash advance in Australia has emerged as a better and convenient option.
What is merchant cash advance and how does it work?
A merchant cash advance is one of the most exciting alternative financial services that is issued by the money lending companies or lenders that pumps in the required money so that merchants may run their business smoothly.
Merchant cash advance is meant to inject additional cash to allow you the required resource to meet growth requirement for your business.
Technically speaking, a merchant cash advance is not a loan as it is just a cash advance granted on the basis of revenue generated by merchant’s business. Repayment is deducted by the lender from credit card i.e. EFTPOS sales in small percentages on day-to-day basis until full cash advance is paid back.
For repayment you are not required to make it physically as it happens automatically online. Merchant cash advance as an upfront or regular accessible amount s can be procured and used for retail, ecommerce and hospitality businesses.
Procurement process for merchant cash advance
As it is not a loan, approval and procurement processes for a merchant cash advance are much simpler and quicker than taking loan from banks.
Most applications are approved within a day and required or granted sum is transferred to applicant’s accounts within 24 hours.
The amount of cash advance that a merchant can be granted depends on merchant’s sales history and business finances. Usually, majority of merchant cash advance lenders advance up to 100% of your average monthly sales.
A merchant cash advance is basically an unsecured business loan which means that there is no need to attach or deposit any collateral as security as your sales will act as security against cash advance.
Who can provide you the best Merchant Cash Advance option in Australia?
As a matter of fact, there are many good financial companies/ institutions for lending unsecured loans as well as cash advances to the businesses in need.
Yet often new business entrepreneurs, new ventures or SMBs wonder as to whom to approach for cash advance in Australia to give required impetus to their business.
We at APICKLE are there to help you with our efficient and smart financial services through our honest advice and always wish you to see here for merchant cash advance in Australia
Our experienced financial consultants and accounts advisors are always ready to help SMBs through merchant cash advance facilities that offers freedom and flexibility to operate their business smoothly. Contact APICKLE– Your Partner in Your Business Success and Growth