What if you own a dry cleaner and need to expand or maybe add a new press for your location but don’t have the funds to do it?  Where do you go?  A few years ago the answer for most would have been pretty easy, go to the bank.  Well that decision is not very easy today and can be a bit more complicated.  Banks still aren’t lending freely.  It seems the lessens learned from a very loose credit policy have stuck with the banks and they aren’t going to forget anytime soon.  So what do you do if you need funds? 
Some may still qualify but for the vast majority they won’t.  If you have a credit score approximately 740 and higher, been in business for at least two years, and can show a profitable business, you have as good a chance as anyone.  If you are like many others who have been hit hard by the recent economic downturn, your credit has been hit hard and may be closer to 500. 
A merchant cash advance is an option not offered by banks but by alternative lenders.  Technically it is not a loan but what they consider an advance of credit card receivables.   These funding companies know you have something relatively predictable and that is your credit card receipts.  Most businesses are pretty consistent in their volume.  Advance companies will give you an amount based on a percentage of monthly volume, usually 100-125%.  These funding companies will collect the money by taking a small percentage, up to 24%, out of your daily charges to repay the money.  Typical advances 
are paid back in 6 months but some as long as 12.  There are many advantages to getting an advance versus a bank loan. 
No personal guarantee
limited paperwork
minimum credit requirements, above 500
In business for 1 year
Funding in as little as 7 days

A merchant cash advance can be a great way to finance your next project with relative ease.  So if you have a project that needs attention, don’t give up after talking with your banker.  There are options available to you.