Platinum Rapid Funding Group is a merchant cash advance company, helping small businesses obtain working capital. For over six years, they have had an impact in helping entrepreneurs reach their goals through providing funding options. Merchant cash advances are still relatively new and many individuals are unaware of how they work and how they can help. To explain it better, they have answered a few of the most common questions they get to business owners understand what is available to them and their options.
Is a Merchant Cash Advance Right for a Small Business?
If a business is struggling to obtain funds through traditional funding sources, a merchant cash advance is a great option. Money can be obtained quickly and getting approved is typically easy.
The money can be used for a variety of things to benefit a business. Common uses include paying vendors, upgrading equipment, and even hiring new employees or independent contractors. The saying is, people need money to make money. A merchant cash advance can be the right push needed.
Repayment is based upon future credit or debit card sales. This is good for smaller businesses who might not have an idea on what their daily revenue will be.
What is the Difference Between ACH Funding and Credit Card Splits?
Automated Clearing House (ACH) funding and credit card splits are the two preferred methods for repayment of the merchant cash advance. An ACH is a daily bank withdrawal on the account based on the weekly or daily payment. A credit card split is the percentage of daily card processing payments.
With ACH funding, a business owner can stay with their preferred processing company instead of switching to match Platinum Rapid Funding. The merchant will give Platinum Rapid Funding access to their online bank account to ensure that repayments can be made. Each month, the percentage is debited from the account.
What Are a Few Examples of Small Businesses That Platinum Rapid Funding Can Help?
Platinum Rapid Funding has helped business of all different industries obtain funding. There are a growing number of business owners who simply need a reliable option to turn to when kick-starting a new product, idea, or overall growth. Most of the businesses that come to us for funding have been around for five years or less. There is always a soft spot for these young, excited business owners who are trying to really do something about their business and take it to new heights.
How Can a Person Get More Funding Insights from Platinum Rapid Funding?
Platinum Rapid Funding has a team prepared to answer any questions you may have when considering a merchant cash advance. A representative is available during business hours from 9 am to 6 pm EST to answer any questions. Readers can find more information and apply at platinumrapidfunding.com or follow them on social media. While you’re there, check out our newest feature, our blog that discusses all topics beneficial to business owners.
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