How can loan against EDC swipes helps me?
- If you have good card sales on your store and you need extra funds to expand your business, Merchant Cash Advance or Loan Against EDC Swipes or Loan Against Card Swipes is the right choice for you.
How does Merchant Cash Advance works?
- This loan is issued on basis of the past one year card swipes. Financial institutions give maximum loan at minimum rates for financial expenses and business growth. The EMI of loan is automatically sent to the institution and the remaining amount will be credited to your account by a machine installed by the lender.
Is there any requirement of collateral in Loan Against Card Swipes?
- No there is no requirement of any security, collateral or guarantee for getting a Merchant Cash Advance because the loans are based on financials record of business.
How can you repay the Loan?
- The EMI/ Installments of the loan will be automatically deducted from your card swipes every month which is installed by the financial institutions to the retailers.