Getting a quick advance loan in cash for your business can help you a lot. However, loan providers rarely do that. In that case, you can try reaching out to Merchant Cash Advance Blursoft.
It is a popular nonbank financial services provider to helps small businesses in getting advance cash. It is based in New York, USA, and is available in more than 45 states as well.
Nowadays, merchant cash advance Blursoft is becoming popular among small businesses as they finance hassle-free advance cash to startups.
In today’s article, we are going to analyze Merchant Cash Advance Blursoft in great detail and help you know how your business can benefit from it. Let’s begin.
What is Merchant Cash Advance Blursoft?
The merchant cash loan BLursoft is a USA-based company that is specially designed for those small businesses that go through some difficulties in the Bank loan procedure. They offer a finance process where you can pay your future revenue in an easy and simple way.
The company only provides advance cash, not a loan and the advance is based upon the future sales and revenue of your business.
Blursoft designed the finance process uniquely, they say:
“You pay the financed cash advance with a percentage of your credit and debit card sales“.
Here you can pay the cash advance in multiple options; either based on your debit card or credit card sales. Moreover, the payment also comes with some additional fees as well.
Some common business that works with merchant cash advance Blursoft include:
- Startups.
- Contractors.
- Businesses with bad credit.
Why Taking Merchant Cash Advance (MCA) is Beneficial?
Taking Merchant Cash Advance (MCA) can be beneficial for you in several ways. The following factors can explain it:
Quick access to cash:
Taking Merchant Cash Advance (MCA) gets you quick access to cash. Traditional loans take a while to get processed and getting your hands on the cash takes time. On the other hand, you can get cash as soon as you apply for MCA.
Easy qualification:
Qualifying for an MCA is relatively easier than traditional loans. That is because the providers, such as Blursoft, offer a flexible credit requirement method. This is even more beneficial for businesses that have a bad credit history.
Less paperwork:
The paperwork you have to go through in order to apply for this loan is very minimal. Although it may depend on the platform you’re taking the loan from.
No collateral required:
Another benefit you get from using this loan instead of a traditional one is that there is no collateral required in it. This is even more beneficial for businesses that don’t have many assets.
Easy repayment:
Unlike traditional loans, the repayment method of MCA is easier and more flexible. Mostly you repay with a percentage of your generated sales. This means that as your sales fluctuate, the repayment percentage also changes.
So, these are some of the major benefits you can get by taking Merchant Cash Advance. However, it also comes with some drawbacks. Let’s take a look at them.
How Does Merchant Cash Advance Blursoft Work?
The working mechanism of the Merchant Cash Advance Blursoft is very easy to understand. The following points can help you understand it:
- The total money that Blursoft offers you as a loan depends upon your anticipated sales. This means that you provide all the data about your business to the platform first. After analyzing how many sales you will make in the future, it gives you the loan cash.
- Once you take the cash, you invest it in your business. After that, you repay the cash according to a fixed percentage of your sales. This money is automatically deducted from your merchant account.
- Once you have paid all the debt, the platform clears out your file.
Now, let’s go over how you can borrow this loan from Blursoft.
How do you Borrow from Merchant Cash Advance Blursoft?
Nowadays, everything has become digitized, and the same is the case with Blursoft. Once you’ve done with applying and approval process, you’ll get the funding in 24 hours.
Right now, Blursoft has funded more than 47,000 projects and they normally provide below five different options to a business:
- Merchant Cash Advance.
- Cash Advance for Invoice Factoring.
- Cash Advance for Contractors.
- Cash Advance for Uber Drivers.
- Cash Advance for Startups.
Apart from that, Merchant Blursoft also deals with businesses having bad credit. Blursoft offers an easy way to get finance for your business as compared with traditional bank loans.
Note: Always make sure that your business meets the criteria before starting the application process.
What kind of documents are required to apply for Merchant Cash Advance?
It is required for every applicant to have a credit score of at least 500. The applicant must be at least 18 years of age. However, Blursoft doesn’t reveal the minimum annual income eligibility for the applying person.
Thus, every US citizen, including green card holders and permanent residents, can apply for the finance process. If you thinking of applying for the merchant cash advance Blursoft, then you must complete the checklist of the below documents:
- Applicant’s driving license or any other proof of photo ID
- Social security numbers
- Time in Business (for at least four months)
- Generating 10,000 USD in sales per month
- Maintaining a credit card or debit score of 500.
Once you complete all the above documents listed, simply fill out the application form and apply for the merchant cash advance.
After completing the process, a representative of Blursoft will contact you to review the application. If your application meets all the requirements and eligibility criteria, you’ll receive the funds in 24 hours respectively.
Merchant Cash Advance Blursoft: Is it a Good Option for your Business?
If we consider every benefit of Blursoft, then this cash advance finance process can rik your credit history. It may affect getting traditional bank loans in the future.
Thus, if you are up for taking the risk, you can opt out of Blursoft (as it is a popular option for a hassle-free Cash Advance). However, before applying, don’t forget to take advice from the finance experts.
Limitations of Merchant Cash Advance Blursoft
Merchant Cash Advance charges some additional fees for the borrowers who are paying off the advance cash. Therefore, always keep in mind to reduce all the prepayment penalties before considering the lender.
Blursoft also considers each merchant cash advance application by depending upon the below purposes:
- Equipment Purchasing
- For quick crisis pairs
- Marketing Work
- Hiring Employees
- Working Capitals
- Technology Investments
- Payroll Management
What are the Drawbacks of Taking Merchant Cash Advance (MCA)?
Two of the major drawbacks of taking Merchant Cash Advance (MCA) are discussed below:
High costs:
One of the biggest drawbacks of this cash loan is the high costs. It costs more than traditional loans. You have to repay the loan with higher interest rates. This can cost you a lot of money in the long run.
You can get into a debt trap:
There is a risk of getting into a debt trap if you take MCA. This usually happens when your sales are inconsistent. This trap can hold you back from growing your business.
So, these are two major drawbacks of this cash loan.
Now, before we start discussing how you can borrow this cash loan from Blursoft, let’s take a look at how this platform actually works.
Conclusion:
Merchant Cash Advance Blursoft is a cash loan businesses get from the Blursoft company. This cash loan can help your business in many ways. A lot of companies are taking this loan in order to grow themselves under certain conditions.
If you think your company needs this loan, the above-given information can be helpful to you. We have analyzed and covered important factors related to MCA so that you can understand how you can get this loan for your company.
Frequently Asked Questions
Does Blursoft charge an origination fee?
Yes, Merchant cash advance Blursoft charges an origination fee to the borrowers.
Is Merchant Cash Advance Legal?
The Merchant Cash Advance Blursoft is 100% legal. This unique finance process is different from the bank loan process and has been specially designed for small businesses as well as startups.
What are the disadvantages of a Cash Advance with Blursoft?
Some major cons of taking a cash advance from MCA include:
⦁ They’re just a short-term solution
⦁ They may risk the financing of future sales.
What happens if you somehow stop paying Blursoft?
I hope it will never happen to you. But, if it happens it would be considered a breach of contract and the Merchant Cash Advance could even file a lawsuit against the business.
