A merchant cash advance is not a business loan though it should be considered a cash advance determined by the volume of monthly deposits. Turbo Advance gets paid back by taking an amount of your future bank deposits daily or weekly. Regular approval time is same day, with very minimal paperwork. Because this option is more expensive than some other options, it’s a good way to take advantage of a short-term opportunity that requires fast cash.
Turbo Advance provide small businesses with an alternative to other financing, like traditional bank loans. Business owners receive funds as a lump sum upfront from a merchant cash advance provider and repay the advance with a percentage of the business’ sales. An MCA can be an option for businesses that have high credit card sales volume, need funding quickly, or may not qualify for a traditional loan.
The hallmark benefit of merchant cash advances is the fast access to cash. Turbo Advance issues the funds on the same day. They also don’t require personal or business credit, instead putting more weight on credit card and non-invoice sales numbers. Turbo Advance also places little to no stipulations on how the cash is to be used, meaning you have more freedom to use the advance on what you need without any extra hands steering the ship. You won’t need to put up any collateral, and Turbo Advance always offers flexible repayment terms. If you have any questions, please contact us by deals@turbocapitaladvance.com
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