Merchant Cash Advance provides Illinois businesses with upfront working capital in exchange for a percentage of future credit card sales
About Merchant Cash Advance's in Illinois
Merchant Cash Advances in Illinois are one of the finest business lending solutions for small and mid-size capital businesses throughout the nation, as well as throughout the world. Right now in Illinois, you can be approved for a cash advance loan without having to pledge collateral.
Why do Illinois businesses need Merchant Cash Advance Funding
When you look at why merchant cash advance loans are needed by business owners in Illinois, it’s really no mystery. Credit card processing is one of the most important services that TX businesses provide to their customers, and when businesses experience a period of slow business, like they are experiencing currently, they can run into problems meeting their financial obligations. If you’ve got a customer who isn’t making a payment, but you still have other customers waiting in line, it can be a frustrating and financially threatening situation. That’s why businesses need a merchant cash advance in Illinois in order to keep their doors open.
How can Illinois Alternative Funding help businesses with a Merchant Cash Advance?
Illinois Merchant Cash Advance solutions allow a businesses’ merchant account to expand when they need it, and at an affordable cost when compared to other types of borrowing. In fact, the interest rates are almost always less than what you would pay for a traditional loan against your property, even though the repayment terms will be much longer. This makes Alternative Funding Groups MCA an excellent solution for a Illinois business owner who needs the immediate funds to keep his or her business afloat, but doesn’t want to use credit cards for the purpose.
Get answers to questions about merchant cash advance in Illinois
What is a Merchant Cash Advance in Illinois?
A Merchant Cash Advance is a way to gain a lump sum and a boost in cash inflow for your business in exchange for future credit card sales.
In Illinois, is Merchant Cash Advance a IL business loan?
A Merchant Cash Advance is more of, as the name implies, a cash advance than a loan. The payments are deducted from future credit card sales that your company will be making.
How fast can I be approved for an MCA loan in Illinois?
Applying for an Illinois Merchant Cash Advance is simple and easy with Alternative Funding. As long as you submit the correct requirements, you can get approved in as fast as 24 to 48 hours.
How does a merchant cash advance work?
After applying for an IL MCA, the cash advance will be paid back through the future credit card sales that your business makes.
How long has a merchant cash advance been around?
Barbara Johnson and her husband started the MCA in the late 1990s after founding Advance Me and technology that allows credit card split sales.
How do you classify a merchant cash advance?
It can be classified as a future purchase where you can get the lump sum at the moment that you need it and just pay it back later.
How do you qualify for a merchant cash advance?
You can qualify for a Merchant Cash Advance with Alternative Funding by having a business in one of the 48 contiguous states. After that, it’s a matter of applying through our online application and passing the right business related documents. You can get approved in as fast as 24 to 48 hours after that.