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When you start a new business you always search for a funding company to prop your business in the short term to achieve the long-term goals. This is why a merchant cash advance (MCA) came into existence. It allows a new small business to get quick cash without any application and approval process. Offered by Blursoft Capital MCA provides businesses with funding ranging from $5,000 to $500,000 for up to two years. It is a non-traditional lending option that lets businesses acquire a lump sum of cash in exchange for a percentage of future credit card sales, and payments are made monthly based on these transactions. Blursoft’s merchant cash advance is intended to be a flexible and expedient alternative to conventional business loans, and businesses may find it useful for maintaining or growing their business operations.
If we talk about its rightness for your concern then it all depends on your unique circumstances and needs. Some businesses may find a merchant cash advance to be a handy and flexible alternative to business loans, while others may prefer different financing options. Here are some of the factors on which MCA offers diverse funding alternatives:
- The size of the funding needed
- The repayment terms
- Fees and interest rates
- Your business’s ability to make timely repayments based on future credit card sales.
Moreover, it is also essential to compare and contrast the benefits of MCA services offered by different providers to identify the best-fitted financing option for your specific situation.
How Does Merchant Cash Advance Blursoft Work For Your Business Growth?
The financing platform uses advanced algorithms and machine learning techniques to assess the financial health of your concern for a cash advance. They offer a simple and quick application process and the funds can be deposited into the business’s account within 24 hours. Here are the steps for applying for a Merchant Cash Advance from Blursoft:
- At first, it is required to identify if MCA is an appropriate financing option for your business needs.
- After proper determination visit Blursoft’s website and click on the “Apply Now” button.
- You will see an online application form, filled out with providing information about your business operations and financial history.
- The platform will review your application and let you know if you pre-qualify for a Merchant Cash Advance or not.
- If all goes well and you pre-qualify for MCA, a representative from Blursoft will contact you to discuss the details of the funding offer.
- If you decide to move forward with the specific offer, you need to sign an agreement detailing the repayment terms, fees, and other financing information.
- Once the agreement is signed and all terms and conditions are agreed, the assigned funds will be disbursed to your business account.
- At last the repayment process will begin according to the agreed-upon plan, and the payments will be based on future percentage credit card sales.
The specific steps of applying for MCA may vary depending on the individual state of affairs and some other details of the financing offer.
What Are The Benefits Of Blursoft Merchant Cash Advance?
Convenience for business funding is one of the biggest benefits of MCA for your business. Here are some of the potential benefits of using a Merchant Cash Advance from Blursoft for your business concern:
Fast Funding: The application process for a Merchant Cash Advance is quick and easy, and funds can be paid out to your account within days. The platform is specially designed to help small businesses that lack access to lending options. The company’s underwriting financing criteria are less daunting than other traditional lenders. This makes it easier for small businesses to access the funding they require for their business.
Flexible Repayment: Repayments of the MCA financing platform are based on a percentage of future sales. It means that you will only pay back the advance payment when you make sales. Blursoft’s repayment terms are flexible and controllable for specific financial situations of concern. The company also offers ample repayment options, so businesses can choose the one that best fits business requirements.
No Collateral Required: Unlike many other controversial business loans, a Merchant Cash Advance from Blursoft does not require a guarantee.
Bad Credit Considered: Blursoft may be willing to work with businesses that have less-than-perfect credit histories. They give a chance to the business with bad commerce experience in the market to grow better.
Convenient Access: Once MCA is approved, the funds are directly laid out to your business account, which gives you immediate access to cash.
No Restriction on Use: When you get the funds through Merchant Cash Advance Blursoft then you can use the funds according to your choice. There are no restrictions on how the funds can be used by the lender. This allows your business to assign the capital in a way that makes sense for your business needs.
Dependable Customer Support: Blursoft is keen to provide the highest level of customer support to its customers. The company has a perfect team of well-informed and welcoming representatives to answer questions and provide assistance to customers around the clock. Whether a concern requires assistance with the application process with MCA or has any questions regarding repayment terms, Blursoft’s customer care is 24 x 7 available to help.
For Which Business Concern An MCA Is Best For?
A merchant cash advance is best for:
- A small business that requires some extra money to make their business to be more functional in today’s competitive era. It is an aid for such business types who cannot get bank loans for doing all of the things they want to do.
- An MCA is not a great option for a business that had experienced a major financial disaster that completely shut down business functions. For such conditions, a traditional bank loan is better than an MCA as they don’t expect daily transactions to pay them back.
- The MCA is a good idea for a newly established small business that wants to make non-interrupting upgrades.
- Merchant Cash Advance Blursoft is a non-recourse loan and is the best alternative for a business because here with this financing process lenders cannot come after the borrower’s assets.
- MCA funds are also beneficial for established businesses from a variety of industries, including:
- Retail stores (furniture, clothing, electronics, etc.)
- Restaurants (quick services, full-service, food trucks, etc.)
- Business of medical and dental practices
- Concerns related to auto repair shops
- All types of online businesses
How Does Merchant Cash Advance Blursoft Repayment Process Work?
The repayment process for a Merchant Cash Advance from Blursoft is typically flexible and is often called the “holdback” or “split” which is the percentage of your daily sales to repay the advance. However, the exact terms and other details of the repayment process may vary depending on the individual financing offer and agreed agreement. Here are some general points that may be helpful to understand:
- The repayment amount of MCA finance is typically a percentage of future credit card sales, rather than any fixed monthly payment.
- The percentage that is taken from each sale is agreed upon in advance in a financing agreement.
- If you have a 20% holdback, then 20 cents of every dollar in credit card sales will go toward repaying the MCA advance. The holdback amount is deducted involuntarily through your credit card processor and bank accounts. You need not worry about missing a repayment.
- As the amount of repayment is based on sales percentage, then the repayment term may vary depending on the credit card sales amount during that period.
- MCA providers like Blursoft may work with businesses to adjust the repayment schedule or renegotiate the repayment terms if the business is experiencing difficulties making payments on time.
Final words of Merchant Cash Advance Blursoft!!
This funding service is convenient for small business to process their financing access. With its highly developed technology, superb customer support and flexible repayment options, Blursoft is gradually becoming a great choice for small businesses. When a business needs to cover unforeseen business expenses, purchase any new equipment, or invest in concern growth, then the businessperson looks for a reliable and efficient financing option. Merchant Cash Advance Blursoft is here to assist those concerned with specific funding for their business operations.
FAQs Related To MCA, Blursoft!!
1. What are the business financing requirements for MCA funding?
To apply for Merchant Cash Advance Blursoft, the concern needs to provide the following documents for business:
- Licence to run a business
- Running the bank account of the business
2. What is the minimum repayment amount of Merchant Cash Advance Blursoft?
When a business takes advantage of business finance from MCA Blursoft then this is the best thing that there is no minimum repayment amount for a concern to start repaying. It all depends on your daily sales.
3. What is the estimated funding time for an advance fund via Merchant Cash Advance Blursoft?
MCA Blursoft can approve (or deny) the advance amount application within 24 hours. And after the approval of the application your merchant cash advance will be disbursed to your bank account within 1 business day of approval.
4. What are the factors to consider when seeking a merchant cash advance?
As with advance funds with MCA, the factors you need to consider include:
- How much of an advance amount or loan you can qualify for
- The terms and conditions of MCA repayment
- Whether any personal guarantee is required
- The approximate APR,
- Your business requirements
- How quickly you can be funded with an advance amount.
5. Are merchant cash advances legal platforms?
Of course, the MCA, Blursoft loan is legal. Although it is not a type of traditional loan since they are considered purchases of your future credit card sales.
6. What are the limitations MCA Blursoft set on the idea of the merchant cash advance?
MCA Blursoft considers cash advance applications for business purposes, such as:
- Debt refinance
- Emergency repairs of concern
- New equipment purchase
- Hiring of staff
- Inventory purchase
- Lease improvement
- Product Marketing
- The new location of the enterprise
- Payroll Issues
- New product or service expansion
- Investment in the advanced technology part
- Working capital