What is a Merchant Cash Advance?
A merchant cash advance is a form of financial support specifically created for businesses that require immediate capital to complete a promising transaction. Small company owners frequently use it as a substitute for traditional banks because it doesn’t require collateral and the full procedure may be done online. The merchant cash advance loan is considered a more modern, user-friendly, and easily accessible financial tool compared to traditional business loans. To be eligible for our merchant funding, your business must have stable revenues for a minimum of six months. Additionally, our financing option is particularly beneficial for companies with seasonal sales or those that generate revenue through credit card transactions.
Will My Business Be Approved for a Merchant Cash Advance?
We’ll also consider your industry, the level of risk you face, whether or not seasonality influences your sales, and the proportion of your business’s transactions that are processed using credit cards. If you achieve these standards, your acceptance rate is 90%. Are you equipped to handle your cash flow issues?
Benefits of Blursoft:
Blursoft operates by utilizing advanced algorithms and machine learning techniques to assess the financial well-being of small businesses and determine their eligibility for a cash advance.
Security and Privacy:
The benefits of using Blursoft include its speed and convenience. Unlike traditional lending options that can take weeks or even months to process, Blursoft offers businesses rapid access to the necessary funds. The company also provides flexible repayment options, allowing businesses to repay the advance based on their sales volume rather than adhering to a fixed payment schedule.
Another advantage of Blursoft is its focus on assisting small businesses that may not have easy access to traditional lending avenues.
Regarding repayment terms, Blursoft offers flexibility by basing the repayment amount on a percentage of the business’s daily sales. This allows businesses to repay the advance in a manner that aligns with their unique financial circumstances.
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Blursoft prides itself on providing exceptional customer support. Its team of knowledgeable and friendly representatives is available 24/7 to address inquiries and offer assistance. Whether businesses require guidance during the application process or have questions about repayment terms, Blursoft’s customer support team is readily available to provide help.
As the world becomes increasingly digitized, it’s no surprise that even merchant cash advances are following suit. With a streamlined application process and quick approval, you can receive the funding you need within just 24 hours.
- Blursoft, a leading provider of merchant cash advances, has successfully funded approximately 50,000 projects. They offer a range of options tailored to various business needs:
- Merchant Cash Advance: This option is designed for businesses seeking a cash advance based on their future sales.
- Cash Advance for Invoice Factoring: Ideal for businesses that want to leverage their outstanding invoices to secure immediate funds.
- Cash Advance for Uber Drivers: Specifically tailored to meet the financial needs of Uber drivers, this option provides quick access to cash.
- Cash Advance for Contractors: Geared towards contractors who require immediate funds for their ongoing projects or business operations.
- Cash Advance for Startups: Specifically designed to support startups in their early stages by providing them with the necessary capital to grow and expand.
- With these different options, Blursoft aims to cater to the diverse funding requirements of businesses across various industries
What Documents Will You Require To Qualify For The Merchant Cash Advance Blursoft?
To qualify for a Merchant Cash Advance from Blursoft, there are a few requirements you need to meet. While the specific minimum annual income eligibility is not disclosed, all U.S. citizens, permanent residents, and green card holders are eligible for Blursoft’s Merchant Cash Advance services.
- If you are considering applying for a Merchant Cash Advance, it’s important to gather the necessary documents.
- Bank Statements: The past 4-6 months of your business’s bank statements to review your financial history and cash flow.
- Business Tax Returns: Previous years’ business tax returns to assess your business’s financial standing.
- Credit Card Processing Statements: Statements that show your business’s credit card sales and transactions, especially if your sales heavily rely on credit card processing.
- Business License: Proof of your business’s registration and any necessary licenses or permits required for your industry.
- Business Plan: A thorough business plan including your objectives, tactics, and upcoming financial estimates.
It’s important to note that additional documentation may be required depending on your specific circumstances and the requirements set by Blursoft. It’s recommended to reach out to Blursoft directly to confirm the exact documents needed for your Merchant Cash Advance application.
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Loan And Merchant Cash Advance: What’s The Difference?
What sets a bank loan apart from a merchant cash advance? On the other hand, Blursoft’s Merchant Cash Advance allows businesses that have been operating for as little as four months to apply for capital.
Traditional banks in the finance industry often have lengthy and intricate borrowing procedures for loans. This is so because these loans are secured loans, which demand evidence of the borrower’s capacity to pay back the borrowed sum.
In contrast, Blursoft’s merchant cash advance has more lenient criteria. Imagine being in a situation where your business needs funding, but it hasn’t been operational for that long.
Apart from the differences in eligibility requirements and borrowing processes, there is also a disparity in loan rates between traditional banks and Blursoft. Banks may offer loan rates ranging from 2.54% to 7.02%, while Blursoft’s rates typically range from 1.2% to 1.4%.
However, it’s worth noting that opting for a merchant cash advance from Blursoft can potentially impact your credit history, making it more challenging to secure traditional bank loans in the future. If you’re willing to take this risk, Blursoft can be a suitable choice.