Small-business owners who need quick access to capital have a growing industry eager to fund them: merchant cash advance providers. As of the result of the tighter credit environment following the recent economic recession, this decades-old industry has grown significantly in the past two years.

Cash advance providers offer businesses a lump sum payment in exchange for a share of future sales. Cash advances are typically used by retail, restaurant, and service companies with strong credit-card sales, but who aren’t able to qualify for secured loans because of credit problems, or a lack of collateral.

Facts about Merchant Cash Advances

Here’s the way the merchant cash advance works:

Companies take out a merchant cash advance, gaining access to money now, on the promise of providing a percentage of their future credit card income.

Typically, these advances aren’t structured with fixed payments, like a traditional secured business loan.

Instead, the lender collects a set percentage of the borrowing company’s daily credit card sales, continuing to receive funds until they recover whatever total fee was agreed upon in the initial contract.

Merchant cash advances don’t include an interest rate, because they’re not technically “loans”. Instead, the company making the advance collects what’s called a “premium” which is a percentage of the credit card sales from the company who receives the advance.

As an example, the company who offers an advance might structure a deal so that they’ll receive 30 cents for every dollar that the borrowing company makes until the advance is paid off, plus some set fee similar to an origination fee on a loan.

Benefits to merchant cash advances include that the amount paid back each month varies according to cash flow, which means borrowers pay back less of the money provided during slow months, and that collateral typically isn’t required to secure the advance, but there are downsides to this type of funding as well.

In particular, having an outstanding merchant cash advance is likely to prevent a business from being able to receive any form of  a traditional loan, since it leaves a dark, looming shadow over their balance sheet, and makes traditional lenders wonder why the business has had to resort to a non-traditional form of lending in the first place.

Plus, there’s no firm date when the advance is to be paid back, nor are there fixed payments, so anyone attempting to do business with the company that took out a merchant cash advance may not be able to count on being paid back for providing them with resources, materials, inventory or other services.

Should You Get a Merchant Cash Advance?

Honestly, if you have assets that you can leverage, then you’d be better off using them as collateral to secure a short-term, low interest business loan. Before you rely on a merchant cash advance, make sure to at least consider the alternatives, including car or other vehicle title loans.

Vehicle title loans do require making interest payments, but they don’t include a premium like merchant cash advances, they won’t cloud your economic conditions in the same way that a merchant cash advance does, and they can provide just as much cash, if not more.

If you’re looking to raise money quickly, whether for personal or business reasons, then call us at Car Capital Financial today.

We’ve offered provided affordable car title loans to Southern California residents for over 15 years, we don’t require a credit check, and we can get you the money you need in as little as 30 minutes! Title loans are issued based on the borrower’s ability to repay the loan.

Call us now at 1-888-500-9887.

 

Do you have no credit history but need a cash advance? Then it may seem like getting a cash advance is next to impossible.  As one of the most common methods of acquiring a cash advance is through a credit card, having no credit history can easily appear problematic.

Luckily, there are other ways you can get a cash advance, many of which don’t even involve owning a credit card. Read on for the best ways to get a cash advance with no credit:

1. Get a Credit Card

Perhaps the most obvious and simplest solution is to take out a credit card. If you are approved for a credit card, now is the time to take one out, build a credit history, and qualify for a cash advance. Just bear in mind that a credit card cash advance will typically involve a huge interest rate (sometimes as much as 100%!) so always check exactly what you’re signing up for before you go down this route.

2. Take Out an Online Cash Advance

There are many online lending companies that advertise cash advance loans with no credit check. Oftentimes these companies lend very quickly, so if you need to raise money fast, this option is worth your consideration. Just remember as with credit card cash advances, there will be strings attached to an online loan (such as a high interest rate), so always read the fine print!

3. Consider a Neighborhood Loan

You’ve probably seen neighborhood loan centers in your town or city offering “cash advances no credit check”, “checks cashed here” etc. These loans usually award you the value of your next paycheck, which could provide you with fast financial relief. However, always bear in mind that these types of loans usually only give you a very small window to repay them – so only take out this loan if you’re sure you’ll be able to repay it before your next paycheck arrives.

4. Ask to Use A Family Credit Card

If you feel like you’re between a rock and a hard space financially, why not ask a family member if they can help you. Perhaps they can provide you with a cash advance through their own credit card or simply give you a cash loan from their savings. Of course only consider this option if you understand the potentially negative consequences – such as if you become unable to pay this loan back – but if you think someone can help, there really is no harm in at least asking.

5. Explore Other Options

Alternatively, you could consider not getting a cash advance and exploring other ways to get money fast. Perhaps you could take on some extra shifts at work? Or do odd jobs in your neighborhood? Or if you have a car that’s paid off (or almost paid off) you could qualify for a title loan, which could easily provide you with thousands of dollars. If you are refused a cash advance on account of your poor credit, don’t give up, as there are certainly other reliable options out there.

Car Capital Financial

For raising money fast and securely, Car Capital Financial has you covered. We provide fast, safe loans that are  of significant value. If you live in Southern California, own your car in full or only have a few remaining payments, you could definitely qualify for one of our loans. Title loans are issued based on the borrower’s ability to repay the loan.

To start your loan process now, call us at 1-888-500-9887!

Are you struggling to make this month’s rent? Do you need money to cover a medical emergency or some other financial liability? If so, call Car Capital Financial now at 1-888-500-9887 to get the cash you need today!

If you’ve been considering the many different ways of getting money fast, it’s likely that you’ve thought about getting an online cash advance. There are two main types of cash advances available online – credit card cash advances and neighborhood loan advances.

Online Credit Card Cash Advances

A credit card cash advance awards money based on your credit card’s limit and the amount that you currently owe. Once you have withdrawn the money, the sum of your advance is added onto your normal credit card bill, with interest (which is usually very high).

Online Neighborhood Loan Advances

An online neighborhood loan awards you the value of your next paycheck immediately, but typically requires that you pay the amount back before your next paycheck arrives in order to avoid late fees and other penalties (which is extremely difficult to do for most people).

Both of these online cash advance options can get you money fast, but both also come with some serious downsides. Read on to find out how you can get a cash advance online and to find out about their pros and cons.

How to Get Online Cash Advances

Credit Card Cash Advances

To get a credit card cash advance online, you will usually need to request one via your online credit card account. Somewhere within your account you should be able to find the option for requesting a cash advance (each credit card provider has a different system, so you’ll have to figure yours out before you can request it).

Your online cash advance is likely to be available in your checking account immediately after you’ve requested it. The amount you can request is typically determined by subtracting the amount you currently owe on your card from your card’s credit limit.

Neighborhood Loan Cash Advances

For online payday advances, you will need to identify an online payday advance company you’d like to use (you can find a plethora of such companies through a quick Google search) and then you will have to follow the company’s instructions to get your loan.

You may have to fax or scan copies of your last few paystubs and provide other documentation – such as a copy of your driver’s license, but typically there isn’t all that much paperwork to complete. These companies will often deliver the money into your checking account extremely quickly, in some cases, within a matter of minutes from receiving your request.

The Pros and Cons of an Online Credit Card Cash Advance

Pros:

• You Can Get Money Fast – If you need money now, you can get it within a matter of minutes by choosing to take out an online credit card cash advance. For absolute emergencies, this type of online loan can be extremely useful.
• You’ll be Borrowing from a Trusted Source – There are a lot of online cash advance scams out there, but if you choose to go through your credit card company you’ll at least know that you’re borrowing money from a trusted and established company.
•  It’s an Easy Process – Online credit card cash advances usually don’t require any paperwork at all, making it a very easy process to complete. If you’re in a hurry, a credit card cash advance is likely to be your fastest and most convenient solution.

Cons:

• You’ll be Charged very High Interest – Credit card companies know that you’re desperate for money when you go to get a cash advance, and as a result know they can get away with charging exuberant interest rates. If you decide to get a credit card cash advance, be prepared to pay an extremely high interest rate on the loan.
• Your Credit Score Could be Affected – If you aren’t able to pay your cash advance back by the end of the calendar month, your credit score could easily be negatively affected. And if your cash advance results in maxing out your credit card, expect your credit score to plummet.

Pros and Cons of an Online Neighborhood Loan Cash Advance

Pros:

• You Can Get Quick Money – A bank loan can take days, even weeks to process, but with an online neighborhood loan you may be able to get the money you need within minutes or hours at the most. If you’ve hit rock bottom and need money right now, an online payday advance will get you the money you need quickly.
• If You Have a Job, You Can Get an Online Payday Loan – As long as you have a steady paycheck, you qualify for an online neighborhood loan. If you’ve been turned down from other loan options for not having a credit history or because you’ve filed for bankruptcy in the past, a neighborhood loan may be one of your few remaining options.

Cons:

• If you Can’t Pay the Loan Back on Time, You’re in Trouble – A neighborhood loan whether received in person or online will demand that you repay the loan in full by the time of your next paycheck. If you can’t make that payment on time, you’re going to be charged extremely high interest on the loan, and you may face other fees in the form of penalties. These loans lead many people to end up in even worse financial situations than they found themselves before borrowing money in the first place.
• Neighborhood Loan Companies Aren’t Respected – Simply put, neighborhood loan companies aren’t respected or viewed by many as a particularly trustworthy source. In fact, neighborhood loans are even illegal in multiple states. You may be able to get the money you need from an online neighborhood loan, but the source you got it from could easily be questionable.

Title Loans – Another Fast Short Term Loan Option

If you’re looking for a safer and more reliable way to get a short term loan, then you should consider getting a car title loan from Car Capital Financial, Southern California’s premiere car title loans company.

We award title loans fast, often on the same of request, and allow you up to 36 months to repay your loan in full – a significantly wider time frame than most online neighborhood loans will allow.

What’s more, we don’t care about your credit score. In fact, we won’t ask for it or check it at any point of the loan process.

To qualify for one of our safe, reliable and affordable title loans, all you need is a vehicle that is paid off in full, or has only a few remaining payments. Title loans are issued based on your ability to repay the loan. If you’ve got that and you want some cash, then call us now at 1-888-500-9887 to get the money you need as soon as today!

Almost everyone experiences at least one financial crisis when they are short in cash, and desperately need it. But whether you’re facing expensive car repairs, medical bills, home ownership costs or some other financial shortfall, is a no fax cash advance the best way to raise emergency money quickly?

If you’ve got problems with your credit score due to bankruptcy, vehicle repossessions or even a foreclosure, you might not be able to qualify for more traditional lending methods like home loans, and are likely considering a faxless cash advance since you’ve heard that it’s the best option for getting a no credit check loan, but that’s not entirely true.

Car Capital Financial can help you out of your financial dilemma with another form of loan for people with poor credit, called a car title loan. As long as you have a fully or nearly paid off vehicle, we can get you the cash you need in as little as 30 minutes, without you having to sacrifice use of or access to your vehicle. For more details, call us now at 1-888-500-9887!

What Are No Cash Fax Advances?

No cash fax advances are cash advances that don’t require you to fax any kind of document in order to receive your funds. This term is also sometimes used as another name for paperless cash advances, which are most commonly cash advances you can request and receive exclusively online.

A cash advance is pretty similar to a neighborhood loan, in that they are short term loans in an amount about the same as your next expected paycheck, though they can also be gotten for smaller amounts as well. Typically, the borrowed balance of a cash advance with no faxing required must be paid back within 30 days, along with various other fees associated with procuring the advance, including any accumulated interest on the loan.

Who Gets Faxless Cash Advance Loans?

People take out these types of loans for different reasons, but they are typically used to cover unforeseen major expenses and financial emergencies. Typical reasons for taking out a cash advance include:

• Making a mortgage payment to avoid foreclosure
• Paying for car repairs or expensive maintenance that was not expected
• Paying for damages to a home due to flood, fire, earthquake or other natural disasters
• Paying for expensive and especially unforeseen medical bills
• Paying for a deposit on a house or for a down payment on some other large purchase (car, etc.)

Problems with Getting a No Fax Cash Advance

Although a faxless cash advance can get you the money you need to cover your emergency very quickly, there are ultimately some serious problems associated with this type of loan.

First, a cash advances usually require repayments within a very tiny time-frame, often as little as 30 days, which for many people is impossible. If you don’t repay them in time, you’re then saddled with astronomical penalties, hidden fees and skyrocketing interest rates, which is a huge revenue generator for companies offering cash advances. They want you to fail!

Secondly, even if you can pay back the loan within the allotted time-frame, you may still be surprised at your final bill, as many faxless cash advances come with hidden fees.

While the cash advance will get you the money you need quickly, these downsides make them far more expensive than they first seem, and can lead to long-term financial problems even larger than the short-term liquidity problems they were supposed to solve in the first place.

Why Car Title Loans are a Safer Option

If you need money now, then you should consider a car title loan rather than a cash advance. While it’s true that neither is perfect, car title loans are safer and more reliable.

Title loans are a better option because:

• You Will Have Longer to Pay Back Your Loan – Most title loan companies will give you many months, in some cases even many years, to repay your loan in full, making monthly payments far smaller and easier to keep up with. This reduces your chances of being hit with penalties and other fines for missing payments.
• You Won’t Be Hit With Hidden Fees – Not all title loan companies are created equally, but some won’t charge you hidden fees or other nickel and dime type costs that can add up quickly, which cash advance companies and neighborhood loan centers are notorious for doing. With a title loan, you’re more likely to know exactly what you’ll owe up front.
• You Can Borrow More Money – Many no fax cash advance companies will only lend you the amount of your next paycheck, which may not be enough to pay for your financial emergency. However, a title loan company will lend up to the entire cash value of your car, which could amount to thousands of dollars, and which could easily help you cover what you so desperately need the money for.
• You Don’t Have to Sacrifice Use of Your Vehicle – The magic of car title loans is that you can get the cash you need without having to give up using your vehicle throughout the course of your loan. Some title loan companies will simply take possession of your pink slip, slap a GPS on your ride to make sure  you don’t drive off to Mexico or Canda with it, and leave you be as long as you continue to make monthly repayments on your loan.
• Your Interest Rate Won’t Be As High – In many cases, interest rates on title loans are far lower than those on no fax payday cash advances, since the nature of the loans is safer for the lender. When you offer up your car as collateral for a personal loan, the lender knows that he can get his money back by repossessing your vehicle if you default on the loan, so he doesn’t have to charge you as much money to borrow cash as the neighborhood loan center does, who hasn’t done anything to secure their loan with valuable collateral.

Choose Car Capital Financial

If you need money now, it’s time to call Car Capital Financial. You’ll be choosing a safer, more reliable and affordable way to borrow money, without having to sacrifice any of the convenience of a no fax cash advance.  Title loans are issued based on your ability to repay the loan.

Car Capital Financial has provided emergency money assistance to clients throughout Southern California for 15 years, and we’re ready to help you with your liquidity crisis right now. Call us today to get the cash you need in as little as 30 minutes!

 

Cash advance loans are short-term loans that typically carry a relatively high interest rate, making them less affordable than car title loans. Due to their higher cost, cash advances are typically used only for financial emergencies when all other options have been exhausted.

However, though they’re expensive, cash in advance loans have become extremely popular because they are typically fast, easy to get, rarely require credit checks and are available both in person and online.

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