Merchant Capital announced a new partnership deal with Discovery Insure, which will open doors for small and medium enterprises to access the working capital they need to manage cash flow problems.
Applicants who qualify can utilize the finances to cover different business expenses, as well as insurance costs. Businesses that work with Discovery Insure will also enjoy up to 50 percent moneyback on their insurance premiums and remain well covered.
Small and medium businesses that meet the criteria for cash advances at Merchant Capital will enjoy financing worth up to 80 percent of their per-month credit & debit card revenue. However, the lender will look at your company’s profile and how sales have been impacted since Coronavirus, says Anton Ossip, Chief Executive of Discovery Insure.
“Currently, SMEs are facing double the challenge thanks to the Coronavirus pandemic. Most entrepreneurs have witnessed customer orders and sales go downhill gradually. That’s why we present a new merchant loans to assist our clients amid a crisis,” said Ossip.
“An entire eighty percent of SMEs may not stand a dip in sales for three successive months. Most of them need pocket-friendly insurance plans to keep them on their feet amid tough times,” he explained.
Applicants who qualify will receive funding in as quickly as 48 hours, said Dov Girun, CEO of Merchant Capital.
Settlements or repayments are made on a pre-determined percentage of future credit and debit card revenue to ensure merchants pay low during low sales seasons and just enough when sales are high. Also, a business can seek additional funding once it pays off 70 percent of the borrowed lump sum.
“The global pandemic has led to a sharp decline in revenue for many firms that were well-off pre-corona, so the Merchant Capital Cash Advance offers the much desired fast and hassle-free access to funding,” said Girnun.
A survey by Stats SA amid the stay-at-home period found nearly half of the respondents (47.9 percent) turned to temporary shutdowns, and almost one in 10 had stopped operations. Other findings show, only 50 percent expected their employee base to remain the same, and an entire 89.6 percent had suffered a dip in sales.
Since the global crisis, Merchant Capital has been on the forefront to help businesses survive the storm. Its partnership with Discovery Insure is the most recent in a chain of initiatives it has rolled out amid the Coronavirus pandemic.
Author Bio:- Michael Hollis is a Detroit native who now lives in Los Angeles. He is an account executive who has helped hundreds of business owners with their merchant loans. He’s experimented with various occupations: computer programming, dog-training, scientificating… But his favorite job is the one he’s now doing full time — providing business funding for hard working business owners across the country.