Merchant Cash Advance + Bank Loan = Success

An article by admin

If you’ve been debating on whether to choose a traditional bank loan or merchant cash advance, why not choose both?

True, a merchant cash advance is a great alternative business funding method for small business owners who don’t qualify for bank loans, but even merchants who are eligible for bank loans could benefit from a merchant cash advance, because merchant cash advances can be used in addition to bank loans.

A small business owner may want to get a merchant cash advance in addition to a bank loan if…

The Bank Won’t Lend as Much as the Merchant Needs

Some small business owners apply for bank loans, hoping to receive a specific amount. Then, the bank says these infamous words, “I’ve got some good news and some bad news.”

The good news – they’ve been approved. The bad news – the bank can only lend half of what they wanted. In this case, a small business owner could apply for a merchant cash advance and possibly receive up to $500,000 in business funds.

The Merchant Underestimated his/her Needs

A merchant needs cash to renovate his business. He applies for a bank loan and is approved for the entire amount. Later, he begins his renovation, but deep into the process, he realizes that he’ll need more cash to complete his plans. At this point a merchant cash advance could be an excellent option.