Most people wrongly believe that all cash advances are the same, and that the entire process of hunting out for a good advance is one that isn’t worth the time or the effort. However, they couldn’t be more wrong if they tried. There is a huge difference that you experience when choosing a good cash advance over a bad one. Bad cash advances can cost you thousands’ of dollars more, can be a nightmare to get out of, and can even force you into certain business practices that you really don’t want to have. Here’s how to avoid that, and get the most for your advance.
Research any company before you even contact them. Not all cash advance companies are alike, and nowhere is this most obvious than when you look at reviews. If you notice that a company has seriously negative reviews about their service, beware! Too many negative reviews are a clear indicator that something is amiss.
Shop around. Once you’ve compiled a list of good merchant cash advance companies, start calling them up. Ask about the interest rates that they typically charge people, and take notes.They'll all be willing to help you get business funding, but it's important that they're willing to do it on terms that you're agreeing to.
Once you found one that has low rates, start negotiating on your behalf. In many cases, cash advance companies will offer special discounts for people who have good credit, or people who have been in business for a long time. See what discounts they can offer you.
Start negotiating with others if necessary. If the offer that you got still isn’t totally up to snuff, negotiate with others to find out what the lowest offer you can get really is.
Pick the best deal, and sign on the dotted line. It’s just that simple. Most of the time, the entire shopping around process will only take a couple of days. So, by the time you choose a good merchant cash advance deal, only a matter of days will pass. Most merchant cash advance companies will dole out funding in a matter of days, so cash will be in hand sooner rather than later.
Sure, it’s very tempting to call up the first merchant cash advance company that you can find, but that definitely isn’t always the best way to go about things. In fact, there are some companies that actually bank on you making that mistake. Don’t be one of the many who are stuck with a bad cash advance. Do yourself a favor, and take a couple of days to root around for a better deal.