3 Steps To Improving Business Financial Situations
As a business owner, you have a dream. When a poor personal or business credit score or financial situation stands in the way of you reaching that dream, it can be understandably frustrating.
Merchant ReFi is here to help. We offer merchant finance for a variety of clients, including those who are actively seeking to improve their credit score. If you’re unsure of how to find working capital, how to access merchant loans, or what new working capital could mean for you and your business, then you need trustworthy, unbiased help — and you can find it in Merchant ReFi. We have been involved in merchant finance, business debt help, and merchant cash advances for more than 10 years. Let us help you.
Read below to learn our three steps for improving your financial situation, and then apply for merchant finance today.
Step 1: Cash Advance
We’re a merchant cash advance company, so it’s understandable that the first step of merchant finance when working with us is to apply for a cash advance.
We recommend you start with a cash advance of a small amount — around $20,000 — over a period of six months. During that time and out of that $20,000, we recommend you put $600 toward credit repair. We partner with the most credible sources that have proven their worth to clients in the credit repair space. Check out our post on business lending options to learn more about credit repair with Merchant ReFi.
Step 2: Small Business Line of Credit
The next step is to establish a business line of credit. We recommend doing this within one to two months of the credit repair program working. When you take advantage of merchant finance with us, we’ll work with you on a small line of business credit. You can expect the following:
- Weekly or monthly payments
- 6- to 12-month terms
- 6 to 20% rates
Step 3: SBA Loan Prep & Approval
Finally, the last step for merchant finance with us and to improve your financial situation is to apply for an SBA loan. We recommend doing this another couple of months after step two — this will give your credit even more time to repair and improve.
We’ll prep you for applying for an SBA loan and you’ll be able to go up to $350,000 with 5-, 7-, and 10-year terms. These are traditional bank loans that are backed by the government and that have rates in the single digits.
Apply For Merchant Finance Today
You’re not alone. Merchant ReFi is here to work with clients and help them progress to better personal and business financial situations. When you need merchant finance, you can count on us. Check out more of our posts for more information:
- What Merchant Finance Is And How To Get It
- 6 Tips For Starting A Business: An Entrepreneur’s Guide
- How Equipment Financing Works
- Your Options For Flexible Business Financing
We’re the resource you need to succeed — apply for merchant finance today.