For any growing business, there is a continuous need for enough funds to meet their working capital requirements. And, for Small & Medium Enterprises, short-term loans from Non-Banking Financing Companies (NBFC) fulfil that need. Merchant Cash Advance is one such quick and hassle-free option available for business owners who accept card payments. This option helps them to raise capital for their businesses to achieve the ongoing and near future short-term business growth.
What is a Merchant Cash Advance?
In the current scenario, there are many owners who are actively using point-of-sale (POS) machines for daily transactions. For such business owners, Merchant Cash Advance (MCA) is an easy and quick way of raising short-term loans against their credit/debit card sales. NBFCs like KNAB finance provide hassle-free Swipe Machine based loans to owners with consistent card settlements.
Whom is it best suitable for?
Merchant Cash Advance is best for business owners who accept card payments and whose businesses are active on POS transactions. This is especially helpful for owners in the retail or hospitality business, as their significant transactions happen through card swipes.
How does KNAB provide Merchant Cash Advance?
KNAB Finance’s Merchant Cash Advance funding is an easy and quick process. Based on your monthly card transactions, you will get instant approval through loans against POS machines.
- Fill the application online
- Enter the correct details
- Once approved, the card swipes will be converted into cash within 3 days
Benefits of Merchant Cash Advance from KNAB Finance?
You’ll receive an easy loan without having to put any of your personal assets at guarantee. Your card swipes and transactions act as a collateral in short-term loan approved through Merchant Cash Advance. KNAB Finance is one of the trusted providers of Merchant Cash Advance loans without collateral security in India.
● Easy Application
Everything is online, making the process transparent, quicker, easier, and more convenient. All that you need is working internet. You can log onto the website from your pc, tab, or phone to complete the application in just 10-15 minutes.
● Quick Approval, Disbursal and Paperless Documentation
The process is hassle-free with paperless documentation. All the details, from business information to card details, can be fed through online. If the details are correct, your application for the loan will be approved in no time and you’ll get a loan within 3 days.
● Simple Eligibility:
The eligibility for Merchant Cash Advance loan demands your company to meet the following criteria:
- Data history of card swipe
- Business vintage of over 2 years
- Turnover of above 25 lakhs
- The business should not fall under the blacklisted/excluded list
● Effortless Repayment
The pressure of repayment in Merchant Cash Advance loans is equalled to nil in merchant cash advance loan. You don’t need to worry about paying through EMI. There will be a daily deduction from the transactions on your card machine.