Options for Receivables Funding

Loanability has multiple programs for businesses in different situations. These days, the majority of our merchants opt for our traditional loans, but when we first started out that program didn’t exist yet. We just had one type of funding: merchant cash advances. While we’ve added to our options since then, we still offer merchant cash advances and many of our clients find that it’s the right answer for them.

This type of merchant advance funding is straightforward enough; we fund you cash upfront by purchasing your future credit card sales, and you agree to remit a percentage of your credit card sales each day. Generally, when businesses are looking for merchant cash funding, they’re thinking of a loan with a pre-set recurring payment. One of the main benefits of a merchant cash advance is that the remittance isn’t set, but instead is tied to your sales. If you have a slow week or month, the remittance stays proportionally low; if your sales jump, you can complete the advance more quickly. In either case, the merchant cash advance program ensures that it isn’t difficult to afford the remittance, and it lets you receive cash up front without worrying that the remittance will become onerous later on.

Of course, this program isn’t for everyone. One of the reasons we added loan options to our portfolio is that merchant cash advances only work if you accept credit cards, and we needed an option for businesses that don’t accept cards. Other merchants prefer to have a specific payment plan laid out ahead of time. The merchant cash advance program provides flexibility and an alternative to traditional loans, and while it isn’t for everyone, it gives you another choice to consider when seeking funding for your business.

Loanability has always aimed to provide the best deals possible for our merchants. We added loan programs because we wanted to make sure we had options for everyone. However, some applicants find that the merchant cash advances work best for what they’re trying to do, so we’ve kept that avenue available for those businesses. Give us a call today and we can go over receivables funding terms that you could qualify for.