A credit card processing loan and a bank loan have a lot in common, but it’s their differences that are most important. These key differences make credit card processing loans a great alternative business funding method for merchants who are unable to meet lofty bank loan requirements.
Difference #1
Requirements
Credit card processing loan requirements are simple and minimal. To qualify for a credit card advance, a merchant must:
Difference #2
Benefits
When you receive a credit card processing loan, you get benefits that you won’t get with a bank loan.
Difference #3
Repayments
Banks will typically require you to make fixed monthly payments, to repay your loan. We don’t. Our repayment method takes the responsibility off of you and the weight off of your shoulders. We will automatically deduct a small percentage from your daily credit card sales, until your advance is repaid. This repayment method is virtually unfelt and allows your customers’ purchases to pay for your advance.
