Even merchants who already have a merchant how to become a payment processor company cash advance and become eligible for a traditional bank loan can still take out a bank loan.

Qualified Candidates Can Receive the Best Rates

Merchant loans are designed for small business owners who can't get bank loans due to imperfect credit scores, short lengths of ownership, etc. But small business owners with higher credit scores, high monthly credit card sales, etc. may qualify to receive the best rates in the industry as well as a choice of loan terms, making the merchant loan more convenient and less expensive.

Merchants Who've Been Denied in the Past May Still be able to Get an Advance

There are many small business owners who applied for merchant loans in the past and were denied due to decline in business, change in ownership, credit issues, etc. These merchants may be eligible to receive a starter advance. They can be advanced about $2,000. Once this advance has been repaid, they become eligible to receive an even larger merchant loan.