A merchant cash advance is becoming one of the most popular sources for small business working capital. The Ignite Payments cash advance program allows you get the cash you need for your business without the hassles of a bank loan.
This business loan alternative has become one of the most popular forms of financing for small business owners. Many business owners think a merchant cash advance is a short term loan, or a high interest advance. In actuality it is simply a sale. When you obtain a merchant account with Ignite Payments merchants have the option get get cash funding for your business needs. Ignite Payments will purchase your future sales at a discount. Both parties agree to the amount of sales being purchased for a discounted cost.
Bank Loans Compared
Small Business Loan
Banks have strict requirements
Long wait times for funding
Merchant Cash Advance
We approve credit scores below 500
Receive your funds fast
Simple, flexible programs
No tax returns or financials required
Top Benefits of a Merchant Cash Advance
The merchant cash advance is just one of the many services available with an Ignite Payments merchant account. It provides you with the cash you need when you need it, fast and without hassle.
High Approval Rate:
Cash advance approvals are based on business performance rather than personal credit, time in business or financials.
Fast Funding & Easy Renewals:
We can have money in your bank in as little as 72 hours. Once you are approved you can renew your advance when 50% of your balance is paid down.
Simple “No Hassle” Payback:
There is no need to write a check every month, your payments are automatically held from a percentage of your credit card transactions. There is no fixed monthly payment. If your sales are low on a particular month your payback will be less.
Revenue Based Collections:
With a merchant cash advance, we get paid when you get paid. Our payment is a percentage of your daily sales, so if you have a slow month you are paying back less. This flexible structure allows businesses to always be able to afford the payments. No Credit or Collateral on the Line: Unlike a commercial business loan, our merchant cash advance is actually a sales transaction, so they are not reported on credit reports. Cash Advance Usage: Use a merchant cash advance as a financing tool to help with cash flow, purchase equipment, inventory, payroll, pay other debts, meet unexpected expenses, and more.