The Ins and Outs of a Merchant Cash Advance
The good thing about the merchant cash advance, also referred to as a merchant loan or credit card advance is that it is much easier to qualify than a traditional loan - even with blemished credit. Unlike traditional banks, merchant cash advance companies like Allstate Merchant Services is that we focus on a company’s overall sales volume.
How to Pay Back Your Merchant Cash Advance
This process is the actually simple. Even before you’re given a cash advance, your credit card processor is pre-programmed to get a small portion of your credit card sales daily. This amount is used to pay the merchant cash advance company back, slowly but surely. In doing so, you avoid the checks and late fees.
Applying for a Merchant Cash Advance
After completing an application, you will be asked to present important information such as your monthly mortgage or lease information. You will also be asked to include proof of ownership and your most recent bank statements. Getting approved does not take as long as a traditional bank loan. You can get approved within 24 – 72 hours and receive your cash advance within 7 days or less.
If you need to find out if a merchant cash advance is good for your business, click the following link.
Monday, August 31, 2009
Do You Qualify for a Merchant Credit Card Cash Advance?
When you apply for a merchant credit card cash advance, there are a lot of things that you should consider first. The most important would be the average amount of the transactions made by your company.
For you to see the difference, let’s say there are two businesses that want to apply for a merchant credit card cash advance worth $20,000.
The first business is an average local diner. Assume for this case it earns around $20,000 each month from credit card transactions. Since we are familiar with diners, let’s set the average price for a meal at $30, using a credit card. By looking at the statistics, it would seem that the diner would need to sell at least 667 meals with that price. As you can see, it would seem to be a very hard task.
The second business in our example is a luxury furniture store. In their case, they sell custom made furniture with an average of $80,000 every month, only from credit card transactions. Let’s assume that in each transaction, the average price for a furniture set would be $8,000. After doing the math, you’ll easily see that the store only needs to sell at least 10 furniture sets to reach its monthly average for credit card sales.
It would seem in our case that the first business is more likely the recipient of the merchant credit card cash advance. This is because when it comes to merchant credit card cash advance, they consider the smaller items that are sold in a high volume rather than expensive items that are sold in fewer volumes.
A Simple Guide about Merchant Cash Advance
If you’re a growing business, you might have heard of merchant cash advance. You should never get confused about it because merchant cash advance are really simple and easy to understand. In fact, it’s much better than obtaining a business loan.
When you apply for a merchant credit card cash advance, there are a lot of things that you should consider first. The most important would be the average amount of the transactions made by your company.
For you to see the difference, let’s say there are two businesses that want to apply for a merchant credit card cash advance worth $20,000.
The first business is an average local diner. Assume for this case it earns around $20,000 each month from credit card transactions. Since we are familiar with diners, let’s set the average price for a meal at $30, using a credit card. By looking at the statistics, it would seem that the diner would need to sell at least 667 meals with that price. As you can see, it would seem to be a very hard task.
The second business in our example is a luxury furniture store. In their case, they sell custom made furniture with an average of $80,000 every month, only from credit card transactions. Let’s assume that in each transaction, the average price for a furniture set would be $8,000. After doing the math, you’ll easily see that the store only needs to sell at least 10 furniture sets to reach its monthly average for credit card sales.
It would seem in our case that the first business is more likely the recipient of the merchant credit card cash advance. This is because when it comes to merchant credit card cash advance, they consider the smaller items that are sold in a high volume rather than expensive items that are sold in fewer volumes.
A Simple Guide about Merchant Cash Advance
If you’re a growing business, you might have heard of merchant cash advance. You should never get confused about it because merchant cash advance are really simple and easy to understand. In fact, it’s much better than obtaining a business loan.
Get Mutual Benefits for Your Business with Credit Card Processing
Imagine the time and energy wasted in building a well-designed website and driving “unique” traffic to your website only to discover that your payment system is unreliable. When it comes to owning a business—time is gold.
Whether you’re selling products or services online or at a brick and mortar store, it’s crucial to offer your clients the ability to make credit card payments. There are several businesses that still do not offer credit cards as a payment option. Some companies feel that it is too expensive to process credit cards - that is no longer the case.
Credit card processing is so much more advanced today that credit card merchants can afford to offer business owners affordable credit card processing services.
Credit Card Processing Helps Increase Sales
The primary benefit of credit card processing is that it can provide your customers with a secure and convenient payment method. With this system in place, all business transactions will surely speed up and thus making your business more profitable.
The bottom line is, credit card processing is the main ingredient that will help your business to grow. Your customers will appreciate the convenience and security that comes with purchasing your products and services.
Imagine the time and energy wasted in building a well-designed website and driving “unique” traffic to your website only to discover that your payment system is unreliable. When it comes to owning a business—time is gold.
Whether you’re selling products or services online or at a brick and mortar store, it’s crucial to offer your clients the ability to make credit card payments. There are several businesses that still do not offer credit cards as a payment option. Some companies feel that it is too expensive to process credit cards - that is no longer the case.
Credit card processing is so much more advanced today that credit card merchants can afford to offer business owners affordable credit card processing services.
Credit Card Processing Helps Increase Sales
The primary benefit of credit card processing is that it can provide your customers with a secure and convenient payment method. With this system in place, all business transactions will surely speed up and thus making your business more profitable.
The bottom line is, credit card processing is the main ingredient that will help your business to grow. Your customers will appreciate the convenience and security that comes with purchasing your products and services.
Want Your Business to Grow? Credit Card Processing is the Solution…
With the business world advancing rapidly, it is not a surprise that e-Commerce is growing at a rapid pace. If you are thinking about launching an e-commerce business, it is imperative that you have an up-to-date payment system for your customers.
There are a variety of online payment processing systems available on the Internet. However, if you want your business to thrive and be taken seriously, having a reliable credit card processing system is a must. If your business does not have a reliable credit card processing system, you could be losing a considerable amount of profits.
Credit card Processing Promotes Convenience & Trust
When your new or existing customers discover that you can process their major credit card (MasterCard, Visa, etc) orders, it promotes security in your customer’s transaction and further shows that your business is legitimate and that you are serious business. Most of all, you’re offering your clients a convenient and efficient way of processing their credit card orders.
Setting up is Simple
Getting your own credit card processing service requires undergoing a standard and simple procedure. The first step is to apply to a merchant account provider of your choice for approval. Upon approval, your merchant provider technical support department will assist you in setting up your new credit card processing feature. Once your credit card processing is up and running, you’re in business!
With the business world advancing rapidly, it is not a surprise that e-Commerce is growing at a rapid pace. If you are thinking about launching an e-commerce business, it is imperative that you have an up-to-date payment system for your customers.
There are a variety of online payment processing systems available on the Internet. However, if you want your business to thrive and be taken seriously, having a reliable credit card processing system is a must. If your business does not have a reliable credit card processing system, you could be losing a considerable amount of profits.
Credit card Processing Promotes Convenience & Trust
When your new or existing customers discover that you can process their major credit card (MasterCard, Visa, etc) orders, it promotes security in your customer’s transaction and further shows that your business is legitimate and that you are serious business. Most of all, you’re offering your clients a convenient and efficient way of processing their credit card orders.
Setting up is Simple
Getting your own credit card processing service requires undergoing a standard and simple procedure. The first step is to apply to a merchant account provider of your choice for approval. Upon approval, your merchant provider technical support department will assist you in setting up your new credit card processing feature. Once your credit card processing is up and running, you’re in business!
What is Electronic Check Conversion?
Electronic check conversion is a new way for stores to gain enough information about an individual consumer’s specific bank account in order to make a onetime charge for a purchase. The way electronic check conversion works is similar to the way paying with a check works but with one distinguishing difference, the consumer gets the check back at the end of the transaction. A voided check that is returned to the consumer works as a record of the consumer’s transaction. Electronic check conversion also has the potential to speed up the cashing out process so long as the consumer has the appropriate funds in their bank account.
Businesses also benefit from electronic check conversion in the form of added security when it comes to cashing checks. Once a cashier scans a particular check, that check will not clear without sufficient funds being available in the account. This takes the guess work out of deciding rather or not to accept a particular check and will be the end to bad checks all together.
With technology advancing as quickly as it is today its no wonder that a safe guard has been developed in order to protect businesses from bounced checks. Electronic check conversion has not only made this possible but simple as well.
Electronic check conversion is a new way for stores to gain enough information about an individual consumer’s specific bank account in order to make a onetime charge for a purchase. The way electronic check conversion works is similar to the way paying with a check works but with one distinguishing difference, the consumer gets the check back at the end of the transaction. A voided check that is returned to the consumer works as a record of the consumer’s transaction. Electronic check conversion also has the potential to speed up the cashing out process so long as the consumer has the appropriate funds in their bank account.
Businesses also benefit from electronic check conversion in the form of added security when it comes to cashing checks. Once a cashier scans a particular check, that check will not clear without sufficient funds being available in the account. This takes the guess work out of deciding rather or not to accept a particular check and will be the end to bad checks all together.
With technology advancing as quickly as it is today its no wonder that a safe guard has been developed in order to protect businesses from bounced checks. Electronic check conversion has not only made this possible but simple as well.
Allstate Merchants Services
The Importance of Accepting Credit Cards for Your Business
Today we live in an ever expanding technological world where people work from home on a computer, do their shopping from home, and even go to school from home. It is no mystery then that many individuals also use technology to spend money. Credit cards are growing in popularity and many consumers these days would rather carry a card around with them today than a wallet filled with cash. If you’re not one of those businesses that accepts credit cards you may find yourself losing more and more business as technology continues to grow and improve electronic transactions.
Regardless of what type of business you are in there is a good chance that you have been asked if you accept credit cards, and if you answered no you may have lost out on a sale. And we all know that every sale counts when it comes to both new and existing businesses. Accepting credit cards also makes it easier for consumers to purchase your product and/or services from the comfort of their own home, opening up a whole new stream of revenue for you. As more and more consumers make the switch to electronic funds you want to be right there ready and willing to take their credit cards and increase your profits. In no time at all you will begin to see the difference in your bottom line just by simply accepting credit cards.
Today we live in an ever expanding technological world where people work from home on a computer, do their shopping from home, and even go to school from home. It is no mystery then that many individuals also use technology to spend money. Credit cards are growing in popularity and many consumers these days would rather carry a card around with them today than a wallet filled with cash. If you’re not one of those businesses that accepts credit cards you may find yourself losing more and more business as technology continues to grow and improve electronic transactions.
Regardless of what type of business you are in there is a good chance that you have been asked if you accept credit cards, and if you answered no you may have lost out on a sale. And we all know that every sale counts when it comes to both new and existing businesses. Accepting credit cards also makes it easier for consumers to purchase your product and/or services from the comfort of their own home, opening up a whole new stream of revenue for you. As more and more consumers make the switch to electronic funds you want to be right there ready and willing to take their credit cards and increase your profits. In no time at all you will begin to see the difference in your bottom line just by simply accepting credit cards.
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