Small Business Cash Advance
The small business cash advance, is great alternative if you are seeking a finance company whom provides quick loans to business owners.
Comparison - Traditional Lenders Vs Business Cash Advance Finance Companies
Traditional Local Bankers
- Long & slow painful application process
- Takes weeks instead of days to get funds
- They ask for collateral, tax returns and financials
- Credit score is used greatly to approve or disapprove loan
Business Cash Advance Finance Companies
- Quick & simple application process
- Get funded in 7-14 days
- No collateral, tax returns, financials required
- Your personal or business credit is not an issue
So a new industry was created, credit card receivable funding companies, would now provide a business cash advance against a merchants future credit card receivables by purchasing a pre-determined amount of Visa/MasterCard sales receipts.
Cash Advances (also known as “account receivables factoring” in the banking industry) have been around for a while, but it was not until just a few years ago that merchants could take advantage of this type of funding.
A business cash advance can be a great way for a company to get the funding it needs and pay the lender in a timely manner. Since the payments come directly from your credit card merchant account through a percentage of each credit card transaction your business makes, the amount due on the loan can be quickly and easily paid back.
How Do You Qualify:
- Your business must accept credit cards as a form of payment
- Your business must process at least $2,500 / month in Visa/MC sales
- Personal or business credit is usually not a major factor
- Have you been in business at least 6 months?
- Do you have at least a 1- year lease on your location
- Can you show the previous 4 months of credit card processing and bank statements?
- Are you free of open judgments, bankruptcies and large open tax liens?
It is not a loan. It is an advance against Visa and MasterCard merchant account, credit card sales receipts. It is re-payed through the merchant account itself. If used correctly can be a very powerful alternative funding source when you need money very quick and easy to get.
If you do not already have a merchant account, you are locking yourself out to another source of money available when the need for money arises. I can also help you setting you up with a merchant account, apply now online merchant account.
Quick & Easy access to working capital financing is now available to all types of businesses including restaurants, retailers, etccc It is a much easier and faster working capital solution than a traditional small business loan.
Still a little unclear on what a business cash advance is click here cash advance for small business.
The small business cash advance for small business application process is simple and can typically provide funding in 10-14 days or less. They have a different more relaxed underwriting criteria than banks, so we have approval rate for qualified applicants are as high as 90%.
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Call now: 718-512-8587