Berkshire, United Kingdom, February 14, 2017 --(PR.com
)-- To tap the potential of the huge market of unsecured business loans, Konnect Financial has come up with a unique financial product called as Merchant Cash Advance. According to the Financial Expert of the company, this product aims to be a flexible as well as a convenient means of raising extra funds for the business by converting the future card sales into an unsecured business loan, also referred to as Merchant Cash Advance loan.
The Financial Advisor of Konnect Financial explains that if an individual has a strong monthly card transaction of at least 3.5K per month, then, in that case, the person becomes eligible for the merchant cash advance
loan. The loan can be used for various purposes like organizing and executing marketing activities, refurbishing, expansions of the current business, to purchase new equipment, to let the team get enrolled for a new training or skill enhancement with the loan.
As per the Operations Lead of the company, an agreement is done with the client wherein a fixed percentage share of the future card transactions is mutually agreed upon, based on the amount of merchant cash advance loan availed by him. Apart from this, there are absolutely no hidden cost or no fixed monthly payment schedule. According to the Operations Lead, this scheme will motivate the individuals to fulfill their financial need and would also help the company increase its client base. As per the Operations Lead, with this product, the company is expected to witness a double-digit growth this year.
Further, in talks with the marketing head of the company, following are some of the advantages of this product which the consumers can enjoy:
According to him, there is negligible paperwork to avail this loan. The company just needs to check the card sales history and accordingly, the loan amount gets sanctioned
- Repayment Schedule
The Marketing head of the company also added that the clients do not need to worry about the repayment schedule. As and when the card sales happen in the future, based on the pre-agreed percentage share, a portion of the card sales would go towards the loan repayment. It means that even if the card sales are low, one does not need to worry about the repayment.
- Bad Credit History
The Marketing Head told that this loan is an opportunity for the individuals who have a bad credit history however they have the monthly sales of at least 3.5K. Konnect Financials shall have no issues in considering such individuals for the loan.
- Turn Around Time
According to the Marketing Head of the company, the company wants to position itself in the market, based on two parameters. The first one is the repayment schedule and the second one is the turnaround time. The average turnaround time for the approval of such loans is just 2-4 days.
The company’s sales team can be reached via e-mail or by directly calling them during the business hours for any further clarification about the product.