POS refers to Point Of Sale is generally a type of business loan that is offered to merchants who accept payments via debit or credit cards using Point of Sale (POS) terminals. Moreover, these loans are also known as merchant cash advances or loans against card swipes and are especially useful for retail businesses, restaurants, salons, or any outlets with daily card transactions. Lenders assess the loan amount and repayment terms based on the merchant’s daily card-based sales volume. Simply put, if higher the sales volume, higher the loan amount & the installment is usually deducted directly from the daily or weekly card sales.
