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FACTS ABOUT CASINO MERCHANT ACCOUNT LOANS

Almost all traders use merchant loans as an alternative method for financing their business. This type of loan is mainly opted by retail and service – oriented businesses. This loan is favoured over the traditional loans because they offer very flexible repayment options that can be changed based on the business sales.

A merchant loan can be renewed a number of times – When you apply for a merchant loan, you can utilise the advantages associated with it more than once. This type of loan acts as an effective alternative to a business loan. After your application for a merchant loan gets approved, you will be able to renew funds even without merchant statements, voided checks, business leases and additional applications. You will receive your loan in just a couple of days. Also, traders can renew this loan 3 or 4 months in advance. The advances can also be renewed a number of times. However, there are a few lesser known facts associated with merchant loans.

A merchant loan can easily be combined with your bank loan – Small business owners usually apply for a merchant loan when they are not eligible to apply for a bank loan. In fact, small business owners who can apply for a bank loan can utilise this facility and benefit from it. Moreover, business owners can also opt for merchant loans when they do not get the required amount from their bank loan and are in need of additional money. Also, a person who is approved of a merchant loan is also eligible for applying for conventional bank loans. Hence, you get additional capital to run the business smoothly.

A “qualified candidate” can receive the loan at low rates – A merchant loan is mainly applicable for merchants who aren’t eligible for a bank loan due to lower credit scores, ownership lengths or other such reasons. But, those business owners who have very good credit scores as well as high volume credit-card transactions are qualified to obtain the best possible rates from banks when they apply for conventional bank loans. Therefore, getting merchant loans will prove to be cheaper and convenient.

If you have faced a rejection previously, you are still eligible for applying for an advance – There are a number of small business owners small business owners who have been denied a merchant loan. The reason for rejections may be due to changes in ownership, issues related to credit cards, decline in the business or other such issues. These business owners too are eligible for applying for the advance of a merchant loan. They will be able to get about two thousand dollars. Once this advance is used properly by the business owners, they can easily get bigger merchant loans.

Keeping in mind the number of benefits offered by a merchant loan, it is surely a wise option to choose this type of loan when you need additional finances for your business. A merchant loan is especially very useful if you own a start up or a small business and do not have sufficient capital for running the business. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.