Merchant cash advances were generally considered as the questionable deals that are done by the professional con artists and which generally used to rob the business man coming from all walks of life. However, merchant lenders Canada is considered to be one of the most successful establishments that used merchant cash advances techniques and grew immensely themselves and helped thousands of businesses grow. The organization always end up at the end where they gets praised for the humble and honest work that they are doing. And the leaders of merchant lenders Canada wants everybody to grow with them in ways that they never thought possible. That is the main reason why they are busting 7 myths that you heard of, when you are trying to swim in the tricky sea of merchant cash advances.
- Merchant Cash Advances is just another name of Payday Loan.
Well you can rest assured that they are anything but that. It can be considered as a type of sales but not as a type of loan. Though you need to repay the money you borrowed but in this specific case the businesses are selling a small amount of their future endeavors in debit and credits for the lump sum that they are getting.
There are no personal mortgages or guarantees and you can return your money whenever you wish. Although you can think that there must be a catch in organizations such as merchant lenders Canada as the banks do not offer such opportunities. But do not worry; there is absolutely no catch in this.
- Regulation Problem
Well they are very much regulated by Uniform commercial codes. But the codes can vary from state to state.
- Fear of Loan Sharking
The money that the organizations such as merchant lenders Canada provide is not a loan. The entire picture is painted by the banks which are threatened to such merchant cash advances. If whatever you believe is true then the hardened businessmen would never have chosen the merchant cash advances for their own business. And the very purpose of the merchant cash advances is to nourish the companies so that they can thrive and expand further.
- Time Factor
The companies that use the merchant cash advances not only generates profits but uses that borrowed money in whatever they want without a stern time limit to pay the borrowed money off.
- High interest Rates
The organization such as merchant lenders Canada offers such cash in such a way that if you are a small company you have to make lower payments and the bigger your company is the more money you pay.
- Qualifying for Loans
The merchant cash advances have the easiest qualification criteria for the application approval.
- Immediate Need of Cash
A merchant cash advance is your best option if you are looking for cash without worrying about the time that is generally required to process the loan application. Let the companies like merchant lenders Canada do all the required legwork for you, so that you can relax and concentrate on the business.