Why Choose us for your Merchant Cash Advance Loans?
A merchant cash advance is a type of business loan that provides a lump sum loan in exchange for a percentage of Credit Card transactions. This type of business loan does not have an interest charge applicable to the loan, but rather our lenders work out a total amount owing on the loan using a multiplier-based formula.
Greenline Home Loans recommend merchant cash advance loans for business owners who are in need of liquidity and cannot demonstrate good credit or are simply not trading for a long period and cannot qualify for other types of business loans. As your trusted adviser, we will take the time to listen and understand you, guide you throughout the entire business loan process, and ensure we allow you all the time you need to understand each step along the way.
Merchant cash advance loans are becoming a more popular option compared to traditional loan products. Assisting businesses with their current cash flow, various features of merchant cash advances have alleviated financial difficulties with ease.
Simplicity and Speed
Applying for a merchant cash advance loan is very simplistic, requiring very minimal paperwork as compared to traditional business loans. Similar to an unsecured business loan, businesses are able to get quick access to funds.
Easy To Qualify
When applying for such business loans, there are limited credit checks and financial history that is needed for the loan application. In some instances, no credit checks or financial history is required. Borrowers do not need a perfect credit score as lenders look at the business’s income to decide whether or not the funds can be repaid.
With merchant cash advance loans, the borrowed funds are secured by or connected to your future transactions or income. Therefore, collateral is not required.
The amount of money you pay back for this loan, as well as the loan term, is not fixed. Instead, repayments are connected to the business’s income since lenders take a slice of each sale. There is no pressure to pay a large sum if sales are slow.
Do you need a merchant cash advance loan?
Get started on your business loan and commercial loan journey with Greenline Home Loans. We’re here to help! Speak to one of our professional mortgage brokers today.
Business & Commercial Loans
Overdraft Facility Loans
An overdraft facility is effectively a line of credit provided by your banking institution, which is an extension of your daily transaction account. This facility permits you to draw further funds from your account at the point where there are no more available funds, allowing you to gain quick access if you are experiencing cash flow issues.
Business Line of Credit Loans
Business lines of credit are the type of loans designed to support short-term funding requirements for businesses. Repayment terms are usually between 6 months and 1 year, depending on your business credit score, revenue and overall financial position. Approval takes 1-2 business days, and once the loan is approved, you gain access to funds that are ready to be withdrawn.
Invoice financing involves the use of your receivable invoices as collateral for a loan. This type of loan is designed to support businesses with their cash flow cycle. Qualifying for invoice financing is much easier as your receivable invoices act as collateral, and accordingly, your business credit rating is not that important.