Small Business Financing for Veterans

For many past and current war veterans, the prospect of coming home and jumping into a career outside of the military can be a daunting proposition. As a result, many veterans opt to go into business for themselves, which allows them the freedom to choose their business path.

Sadly, because of the banking climate today, many veterans who have been fighting for their country are coming home to find that their career in the military is not always a sufficient means of obtaining financing to maintain their small businesses. The current economy has made it particularly difficult for those looking to obtain veterans small business loans. Traditional lending institutions have practically abandoned these veterans' loans. In the past, these loans were made available to returning veterans of war without the heavy requirements of paperwork and credit that many small business loans are now notorious for. Unfortunately, many banks have done away with veterans small business loans, and now require the returning soldiers to have worked for a certain period in a civilian job before even being able to be considered for financing.

As a result, many small businesses owned by veterans start-off well, but quickly fail due to a lack of persistent financing options. Banks are hesitant to lend money to veterans, even outside of veterans small business loans programs, for fear of not being repaid. This is due to the possibility of other military commitments in the future or other psychological or medical reasons that may put the veteran in a position in which they are unable to pay back the loan. This also means that the typical bank offering veterans small business loans will require, in many cases, a certification of mental and physical health.

With the suffocating amount of required paperwork and other hassles involved in receiving veterans small business loans, obtaining financing for the average veteran small business owner is on the brink of being deemed impossible. Thankfully, the small business owner does not have to jump through the hoops of the typical lender and can now secure the financing they need for their small businesses quickly and easily to ensure that they can continue operations without any delay.

With this financing option from Merchant Cash Advance, the business owner borrows against their future credit card receipts. This process, known as credit card factoring, has become a highly popular way for the average veteran, who owns their own small business, to bypass the typical means of going to the bank to apply for veterans small business loans. Credit card factoring with Merchant Cash Advance does not involve highly complex and countless forms and filings along with weeks or months of processing. If a veteran business owner has been in business for at least a year, has a few thousand dollars a month or more in receivables from credit card payments, and is willing to discuss their business history to a representative from Merchant Cash Advance, they can be approved to receive financing through credit card factoring with Merchant Cash Advance.

MCA will not pry into a veteran's military background or try to establish some sort of health verification that can be highly invasive to his or her privacy. Instead, MCA will focus on the veteran's business operations. Once MCA approves the veteran's cash advance, the money will be deposited into the business owner's account, often within 10 to 14 business days, allowing the business owner to use the money right away. The money borrowed can be used to pay off business bills, purchase inventory, be used to purchase capital, or any other uses that will help a business grow.

Repayment of this financing is also much easier than typical veterans small business loans given by a traditional lender. The repayment, instead of being one big monthly payment required over a certain period, is made gradually through the course of the merchant's business operations. MCA will establish a system in which each credit card payment to the merchant's business will have a small percentage taken and redirected toward the cash advance amount.

Unfortunately, in today's economy, there are very few options for financing veterans small business loans, and the typical lending institution has made borrowing money for a small business next to impossible. However, for merchants looking for a faster, easier, and simpler way to receive financing for their small business, there is Merchant Cash Advance. Our financing options can help business owners with funding to further their businesses.