10. Merchant cash advances
A merchant cash advance is the opposite of a small business loan in terms of affordability and structure. While this is a quick way to obtain capital, cash advances should be a last resort because of their high expense. Many of the top merchant services offer this option, so check with your provider to see if this could be a form of capital to explore
“A merchant cash advance is where a financial provider extends a lump-sum amount of financing and then buys the rights to a portion of your credit and debit card sales,” said Priyanka Prakash, lending and credit expert at Fundera. “Every time the merchant processes a credit or debit card sale, the provider takes a small cut of the sale until the advance is paid back.”
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