Barry Sharf – Merchant Cash AdvanceSimply put, a Merchant Cash Advance is an easy and efficient way for a business to secure short-term working capital. According to Barry Sharf Cash Advances are similar to traditional business bank loans; however an Advance is not based exclusively on a merchant’s credit, rather on the strength of a business as a whole. Discount Merchant Funding (DMF) evaluates a combination of factors including, but not limited to time in business, monthly total sales, credit card sales, SIC code, average daily balances etc.
Any business needs funds to set up. Often people have concrete business plans, ideas, and needed knowledge but lacks in funding part. They are either financially not sound or finds it difficult to raise the funds. To help out such individuals Barry Sharf has come up with offering the Merchant Cash Advance. It is a rapid and simple way to get a business cash advance without guarantee, even if you don’t have an excessive credit support. These are not loans rather; they are a sale of a portion of upcoming credit and/or debit card sales. These are a lot used by retail businessmen who do not meet the requirements for regular bank loans and are usually more costly than bank loans. Essentially, an advance is purchasing a segment of a company’s future sales at a discount – not a loan.
How does Merchant Cash Advance work? – Barry Sharf
To being with, applicant has to fill up a small questionnaire. This would also give an idea about which loan products he/she qualifies for. In the next step; Barry Sharf will review your requirements in a discussion letting you understand the details of each before applying confirming which will help your business most. Post discussion, you would be set free to decide what kind of Merchant Cash Advance you would like to have. Yes, during discussion we will have a calculation about what would suit your requirement best. Finally, get funded. You that you have what all you was looking-for, all the best for your business.
Who Qualifies for Merchant Cash Advances?
An individual with a running business for last 6 months or with a clear business plan with the industry training and certificate valid for two years qualifies for Merchant Cash Advances. To know more about this contact Barry Sharf via Contact form.
- Short term financing; because a cash advance only spans a few months, there is no long term obligations.
- You receive your money quickly; upon receiving a signed application and bank statements, we can get you an offer within 24-48 hours. Furthermore, we can get you funded in as few as 3 business days.
- Renewals can often be funded the same day.
- Optimal Credit is not necessary; because DMF looks at the strength of the business as a whole and not exclusively at your credit score; one does not need ideal credit to receive financing.
- Rapid access to funds
- Simple approval method
- Poor credit is recognized
- Apt for a comprehensive range of business drives
- Higher fees than with customary loans
- Less suppleness to change merchant service benefactors
- Everyday deduction of credit card takings decreases cash flow