Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Mca
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4. MERCHANT CASH ADVANCE VS BANK LOANS
Cash Advance
• No Fixed time period
• No fixed monthly payment
• No extensive paperwork
• Quick Decisions
• High Approval rates
• Fast Funding
• Renewable
• Bad Credit OK
• Cash Flow Friendly
• No Service Fees
• No Late Fees / Penalties
• No Collateral
• No Net Worth Requirement
Bank Loans
• Fixed Time Schedule
• Fixed Monthly Payment
• Very low approval Rate (10%-28%)
• 2-3 years operating history
• Decision Process Takes Weeks
• Funding Takes Weeks to Months
• Require Tax Records and Business
Plans
• Requires Collateral
• Requires High Credit Scores (720+)
• Demonstrate How Money Will be
Used
• Check References, Employee Quality,
Education, Personal Background