Let's say your a manufacturing company producing specialized parts or equipment, chances are you don't have a lot of credit card receivables coming in each month. Your company could have only been in business for 1 year which would make it nearly impossible for you to get a traditional bank loan unless you had collateral and good credit. And if you did not take credit cards as well as only being in business for just a year, you wouldn't have qualified for a MCA (merchant cash advance) loan either. Which could put some growing companies at a risk of not having the working capital on hand to expand, hire new employees or order new product or equipment.Not every business owner uses credit card processing, but that shouldn't prevent them from having access to working capital. VMC Capital is always striving to increase customer satisfaction as well as expand our customer base, and that is why VMC has added ACH business cash advances to help those merchants without large incoming credit card receivables.
Through the common MCA (merchant cash advance) lending programs, merchants would receive a cash advance for their company and make repayments on the “loan”, via their credit card processor. We are presently adding a unique funding program for business owners that do not generate revenue utilizing credit card processing. VMC has now elected to expand their capacity to support merchants and business owners through the new ACH lending program. Now with an ACH loan business owners can offer payments via their banking organization. Best of all the ACH agreed upon payback amount is set before the cash advance contract is signed. These repayments are paid back daily through ACH until the cash advance is paid off. This means that small business owners are not required to process credit cards, in order to, receive a business cash advance, and those that do no longer have to change processors in order to obtain business financing.
Not only does this program increase VMC’s capacity to secure funding for small businesses, but it also enables clients to keep their working relations with a credit card processing vendor that they may have remained in business with for years. VMC is thrilled to expand the ability to acquire financing for small business operations. If your business could use a business cash advance or would like to learn more contact VMC Capital at 1-855-388-1113.