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Happy Rock Merchant Solutions has a different approach to securing funding when compared to a taking a loan from a traditional bank. When comparing the two options side by side, it is easy to see that Happy Rock Merchant Solutions provides funding to a client without the mess and stress that a traditional bank would present.

The main difference between traditional banks and Happy Rock Merchant Solutions is that Happy Rock Merchant Solutions does not give out loans, but a Merchant Cash Advance. A Merchant Cash advance is when a merchant, like Happy Rock, in exchange for a set percentage of your business’s credit and debit transactions, will give you funding upfront. Cash advances are made from $2,500 to $200,000. When dealing with bank loans, typically bank will not approve a loan unless it is above $50,000, which is not applicable to you if your business is in need of a smaller loan.

When securing a bank loan, there are many hurdles you have to go over before even seeing any of the money. explains that one of the first things that a bank looks at before approving your loan is your credit score. The weaker your credit score, 580 and under, the less chance you have of being approved for a loan. Before giving a loan, a bank wants you to prove that you are financially responsible, the higher your credit score, the higher chance that you will pay your payments on time. With a merchant cash advance, it does not matter what your credit score is. If Happy Rock wants to invest in your company and sees you as a promising candidate, then you don’t need a perfect credit score.

A merchant cash advance also offers flexibility in their payment in contrast to banks. To repay a merchant cash advance, a small fixed portion will be deducted from credit and debit card sales until the advance is paid off. For example, states that “upon an 8 percent retrieval percentage for your funding, we will receive $8.00 on a day that you net $100.00 in credit and debit card sales”.

Another benefit to merchant cash advance is that it does not involve late payment fees, associated charges, penalties, or personal collateral. These negatives are all consequences of bank loans. Often bank loans ask for collateral, such as a car or a home in order offset the risk of taking on you as a client. Bank lenders will also evaluate your capital, investment accounts such as mortgages and account savings. On top of all of that, when you have a bank loan, you must pay it back a portion every month on top of the interest rate.

Happy Rock Merchant Solutions’ structure benefits the small business owner. It proves to be a more efficient way of utilizing both your time and money. If you are a business owner and are looking for funding consider Happy Rock Merchant Solutions for your future endeavors.