A business cash advance is an alternative unsecured cash advance specifically for businesses that have been turned down for a traditional loan. Bad credit, time in business, or even a small loan request can prevent you from receiving a bank loan. Small Business Funding specializes in helping small business owners secure the capital they need regardless of their situation.
A business cash advance can come in different varieties. The most common being the merchant cash advance. The merchant cash advance is repaid via a business’ merchant processor. Their bank account is never touched. The daily repayment amount is based on the volume of credit card sales and therefore each payment is different. There is no set term of repayment and therefore this is not considered a loan. An unsecured business loan may be based on the credit card volume but the daily payments are debited directly from the business owner’s operating account rather than coming out of their merchant processing. A business cash advance is speedy and not credit dependent. Advances can be funded in as little as a few days. The cost is much higher than a traditional bank loan though so keep that in mind. These online business funding options are high risk for the alternative lender and therefore carry a higher cost. Ultimately, if the cost of the capital is outweighed by increased revenue or avoiding a business issue, it is worth it.
Small Business Funding can help small business owners find the very best business cash advance. We are deeply involved with the country’s best and most trusted alternative lenders. We can size up a deal quickly and determine which route is the best to take and which type of funding will work best for your situation. Sometimes a lower rate and shorter term is warranted and other times a higher rate and longer term makes sense. That is our specialty; figuring out what, where, and how to set you up with the best lender and get the most beneficial funding.