Business cash advances are based on future sales. You get quick cash without the paperwork and stringent requirements of a business loan offered by a bank.
Are you in need of money to purchase equipment for your business? Do you wish to remodel your existing office? Well, there’s an answer for each of your requirements in the form of a business cash advance.
Today, the growth of businesses is undermined by insufficient cash flow to address
immediate and critical needs. In this situation, business cash advance proves to be a boon
for merchants. You are free to use the cash for your business advertising and marketing, inventory, equipment, or miscellaneous payments. Many financial institutions offer you a simple solution for working capital financing.
Established banks can reject your business loan proposal or delay the disbursement. Here’s where business cash advance becomes your savior. These financial institutions provide quick cash without the usual paperwork and strict requirements you must follow if you go to a bank. Normally, loans need collateral, long business records and a good credit history. However, small and new businesses with bad credit may still be eligible for an unsecured business cash advance loan.
You can use the business loan to buy new inventory or to open new locations of your office
or to pay back debt. You are free to use the business cash advance to launch promotional or advertising programs. You can also use the loan for repairs or maintenance of your office.
There are two main requirements. Your venture should be registered in the United States. Your business should accept credit cards and process $2500 or more in credit card sales.
These financial institutions also provide the following benefits when compared to traditional financing:
• No application fee
• Money in just 72 hour
• There’s no need for personal guarantees
• There’s no predetermined refund plan - the lenders get compensated when you get paid!
• No security required
• No repayment hassle - You never deal with cumbersome coupon booklets or write a check. Repayments are automatically subtracted from your every day sales
• No definite time period: A preplanned schedule is prepared wherein you need to payback your loan in roughly six months. But, there is no penalty if it takes a little longer!
• The financial organizations also reward trustworthy customers with special programs and incentives.
The attractive feature of this loan is the variable repayment schedule. The refund is mostly done through credit card sales receipts and hence the businesses normally do not feel the pinch. On the other hand, working capital loans have an unchanging repayment plan and you need to repay the amount according to the schedule. In case you fail to repay the working capital business loan, it can greatly affect your credit score and there’s a heavy chance of losing your collateral.
The application process is quite simple and takes only a few minutes. The business cash advances are approved in less than 24 hours, irrespective of the business volume. So, what’s stopping you from applying for this loan? Go out and get the cash flow that’s the lifeblood of your business operation.