Having a bad credit is not much of a surprise for small business owners. Small businesses are like seeds; the owners sow and feed it with their blood and sweat. when you are an inexperienced small business owner, then not having a good credit score is something that is inevitable.
But, having a bad credit also means that almost most of the banks will reject you right off the bat. Their bureaucratic policies just cannot allow them to be your small business lender, as you do not qualify for being a safe bet. So, the only people who can get their loans are the people who already have a good enough credit to not even want to have loans.
The logic is flawed, it caters to just a privileged portion of the business world while forsaking the most desperate. And condemning the small business owners results in them never growing, while the rich get richer, the poor never really grow. Is this the land of free trade we had desired?
No such thing as freedom, our economic system has been brutalized and suffers from an ever expanding cycle of debt, all perpetuated by the gut-wrenching politics of greedy banks. It renders small business owners with the only option of going towards non banking options to find a suitable small business lender which may help someone who actually needs the help.
The Merchant Cash Advance
In this article, we will talk about the non-bank option of the Merchant Cash Advance, a massive business lending platform, which does have a dedicated base full of small business lenders. These small business lenders specify in delivering the best and most effective business working capital in a process that is both easy to work with without any of the bank tediousness.
As a small business owner, you have the incredible opportunity of connecting to hundreds of small business lenders that operate on the internet in providing Merchant Cash Advance. You can easily access their profiles, their debtor satisfaction rate, and their complete profile over the internet. Run a background check to be sure, and then you can connect to them by sending your proposal.
Your proposal should contain the following components:
- Your background, identification details, and all your mandatory personal information (License number, work history, date of birth, etc.)
- An introductory cover letter, which may contain your idea of expanding your business and why you want the Merchant Cash Advance.
- Your business details, that will include the history, your yearly revenue, and of course your credit performance (Even though it will not matter much).
- Finally, you should also include your preferred method of loan payment (lump sum or installments) and repayment (credit card purchase, cryptocurrency, etc), alongside your expected future sales and your agreed upon percentage and interest rate.
After you are done with the proposal, mail it to the small business lender. The small business lender will examine your proposal and send you a confirmation. The acceptance rate of Merchant Cash Advance is much higher than that of banks. After signing the contract you will get your money, which you will be able to use however you want. And that is why small business loans are better with Merchant Cash Advance.