Business Funding in Jacksonville
Jacksonville the aviation city of the US is home to also many other businesses that make this is unique region in terms of trade and commerce. For businesses in the Jacksonville area that are searching for funding, one of best options are the merchant cash advance loans.
There are numerous reasons why MCA or merchant cash advances are one of the most suitable options for businesses. This is due to the fact that banks are almost not giving business loans to most applications that they receive. The overall percentage of approved business loan applications is in the range of 10% and less.
The reasons so few loans are approved by the bank is due to the fact that the way banks calculate risk factors is very different from the way that businesses assume. Banks have long lists of do and donts which they follow. Technically, a bank would be happy to provide a loan to an absolutely stable and healthy business that does not look like it would require a loan ever.
With such as slim ratio of businesses qualifying for business loan, it’s no wonder the popularity of merchant cash advance in Jacksonville. Other factors that also contribute to the popularity of business funding is the quick turnaround time or processing time required in these loans. Typically, the processing time required for receiving the funding in your account could be between 48 to 72 hours from the time of application.
Some of the other major advantages is the qualifying criteria required for small business loans is the fact that these are the most practical from multiple perspectives. Businesses that require a loan require them real time as soon as possible, based on the reason for the funding.
In most cases the reason for the funding is to complete a project, purchase necessary equipment, for business expansion and the likes. In some cases the business require the funds which are time bound and that matters to the success of the project that the business has at hand.
Many businesses in Jacksonville have expanded with our help. Check out your options now