Merchant cash advance providers weigh risk and credit criteria differently from how a banker does. An MCA provider looks at your company’s daily credit card receipts. This is to determine if your business can pay back the funds in a timely manner. In essence your small business “sells” a portion of future credit card sales, this is in exchange for immediate payment.
It may feel like the only option you have is business credit cards for poor credit. However, there are alternatives! A business credit expert can help you find the ones that will work best for you.
Alternative business lending is a way to fund your business, even if traditional options will not work. They can be a great tool, but there are some things you need to know.
When you apply for a business credit card, bad credit from your personal report can get in the way. It doesn’t have to though. Here are 5 steps to get business credit cards regardless of personal credit.