What To Know About A Merchant Cash Advance

Merchant cash advances are different than other types of cash advances. These advances will usually need to be paid back to the lender within a six month period of time. They can be costly for their purpose. However, it is an easy and convenient way for businesses to get the capital they desperately need. A business is able to obtain their merchant cash advance without tapping into their daily cash flow. This ensures a business is able to maintain their financial security while paying the money back.

Is A Merchant Cash Advance A Loan?

This is one of the most common myths revolving around merchant cash advances. They are not a typical loan. At first, the process to apply for the advance may seem very similar to the loan process you would find at banks, credit unions and other lenders. Once you have applied and received approval, this is where the similarities between a loan and a merchant cash advance will end.

When you take out a loan, you will usually have to commit to a fixed payment plan based on your credit score and the amount you borrow. There will also be a predetermined amount of payments set in advance. Merchant cash advances are different because the amount is based on the daily credit card or debit sales of a business. Paying back the advance will be paid on a daily or weekly basis based on the sales volume.

Do Merchant Cash Advances Come With High Interest Rates?

There is no one rate set for merchant cash advances. The interest rate that is charged will be based on the sales volume, the provider and the projected amount of future sales the business has.

Can A Business Have More Than One Advance Out At A Time?

While it is not advised to have more than one loan or advance out at a time, a business may opt to take out a second merchant cash advance in order to pay off another one. This can be a great way to save on interest and fees.

Are There Strict Guidelines To How The Funds Can Be Used?

Most merchant cash advance lenders allow their customers to use the funds they are approved for in any manner they want. A business will have flexible access to their funds. Most businesses will use the funds for purchasing new equipment, buying extra inventory, paying staff and improving other business facilities. Most businesses have endless areas where a little extra capital can really help out.

Can New Businesses Take Out Merchant Cash Advances?

Most lenders will require a business be opened and running for at least a year before they can get approved for a merchant cash advance. Depending on the lending company, other requirements might need to be met such a having a certain amount of documented sales and revenue. Most businesses will not be required to obtain new payment equipment for approval of an advance. The terminal a business has can be reprogrammed for the lender within a few minutes.

Are Bank Loans Better Than Merchant Cash Advances?

For some businesses, a traditional loan from a bank or credit union might be a wise choice. They are not always the best solution for all, however. Most lenders of traditional loans will require you to have a long, established credit history. It can oftentimes take weeks to get approval. This is not a good scenario for a business that needs capital right away. When a business chooses a merchant cash advance when in need capital, they will usually be able to access those funds within a few business days after getting approved.

What does a personal injury lawyer do?

A personal injury can happen unexpectedly at any moment. If you’ve been injured, one of the best ways to protect your interests is to hire a San Diego personal injury attorney.

You may be wondering if it’s worth the effort and expenses to hire a personal injury lawyer. This is especially true if you’re inexperienced when it comes to personal injury matters. Here’s what you need to know about personal injury lawyers.

Personal Injury Lawyers Explained
Personal injury law is a specialized field that requires a lawyer who has a proven track record in this specialty. Not only can personal injury lawyers represent you in a court of law, they perform other functions that are necessary to a successful outcome for your case.

1. Investigation – Gathering evidence in a timely manner is one of the most important parts of a personal injury case. Your attorney and legal staff will obtain witness statements, official reports, photographs and any information that is required to determine how the accident happened.

2. Settlement Representation – If you’re under a physician’s care, your personal injury attorney won’t proceed with your case until the treatment ends or your condition stabilizes. After your medical treatment has ended, your attorney will proceed with your case by compiling your medical bills, reports and related documents. Once your these documents have been compiled, your personal injury attorney will contact the insurance company to discuss compensation for your injuries and medical bills.

3. Litigation – If your lawyer and the insurance company aren’t able to come to terms on a settlement agreement, your lawyer will file a lawsuit against the defendants. In some instances, your personal injury lawyer may request arbitration. Throughout this process, your lawyer will file motions and take depositions. This is referred to as the discovery process. Once the discovery process has been completed, your attorney will request a trial date and represent you in court.

What You Can Expect From Your Personal Injury Lawyer
Although a personal injury can disrupt your life, you must understand that the road to your settlement can be a lengthy process. For that reason, it’s essential that you try to be as patient as possible with your lawyer and the process. Here are some things that you can expect from the from the process.

1. Your personal injury lawyer may not contact you on a weekly basis. Each phase of the process is time-consuming. Due to the number of parties involved, progress can be slow. However, it’s important for your lawyer to keep you informed throughout the process.

2. Your personal injury lawyer should be responsive. When you leave a message for your attorney, you should receive a response within a reasonable period of time.

3. Your personal injury lawyer may advise you to settle your case when you receive a fair offer. Court litigation can be expensive. Depending on your injuries, it might be in your best financial interest to settle your case out of court.

A personal injury lawyer is an invaluable ally to have on your side after you’ve been injured. A knowledgeable personal injury lawyer can help you navigate through a confusing process.

Why do you need a Divorce Lawyer?

Why do you need a Divorce AttorneyNext to death of a loved one, divorce is one of the most traumatic events that can befall a human being. Unlike death, there is a large amount of decisions that must be made during the divorce process that can involve financial matters as well as children. Every person in the midst of a divorce has certain legal rights that must be protected. Everyone going through the process must always ask themselves how best to vindicate their rights.

Many people think that they can handle their own divorce. Whether that thought stems from a desire to “keep lawyers out of it,” or whether the thought is to economize, there are hazards to going it alone. The first obvious hazard is the raw emotion that is experienced during a divorce. Sometimes it is better to have a third party involved who can be more objective and realistic. A self-represented litigant may tend to make decisions based on emotion or a need to settle perceived scores. This can be expensive and against someone’s self-interest. At times, it is better to compromise rather than fight. Alternatively, it may be better to litigate than to take a one-sided settlement. A lawyer will have better insight into that.

In addition, decisions that are made during the divorce process can have long-lasting ramifications. For example, once a custody agreement is signed, it may be difficult to modify the agreement unless one can show that there are changed circumstances. Also, once marital property is divided in a divorce settlement, it is largely not possible to go back and change that division of property. Any rights that are waived now may not be regained at a later date. Oftentimes, parties simply do not know the full rights that are available to them. Certainly, they do not know the applicable law and how their rights are determined. Lawyers are in a better position to know what a client’s rights are and to relay that to the client. Some of the worst results that occur in divorces happen when a party is uninformed.

A divorce court is a difficult forum for any litigant. When you walk into a divorce court, it is a legal proceeding, whether or not the divorce is contested. For those getting a divorce, it will hopefully be the only time in their lives they encounter the family law process. Therefore, it is difficult to know how the process works if it has never been experienced before. Lawyers have knowledge of this process because it is something that they do every day. Oftentimes, the personality and preferences of a judge may dictate how they apply the law to a case. A self-represented litigant will not have any idea what the individual judges in a court are like. Lawyers should know what each judge is like and will have insight into how the process works. For those handling their own divorce, they are likely to spend as much time trying to figure out the process as they would be actually arguing their own case. It is better to let a lawyer take the reins because they will know how to make filings and the timelines associated with each case. There are not any exceptions for self-represented litigants who miss a court deadline because they did not retain a lawyer.