Business Cash Advance vs. A Business Loan

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Business Cash Advance vs. A Business Loan

Wednesday, January 23rd, 2008 Subscribe To Our Feed

Obtaining a business loan can be quite a difficult task for business owners with less than perfect credit. Banks are known to make you jump through hoops, provide piles of paperwork, and then tell you, “Sorry, we can’t help you at this time”. There is an easier way for a business to get money than a bank loan. This alternative can usually get you the money faster, with less paperwork, and many times be able to do so at even a better rate than a bank would charge!
This great alternative to a normal business loan is called a business cash advance. This is often times much easier to obtain than the loan. The requirements for a business cash advance are very simple. First, your business must have been accepting Mastercard & Visa for at least the last 6 months. Secondly, you must be processing at least $2,500 per month in bankcard sales (combined). Plus, you must have at least one year remaining on your current building, office or retail location lease. The last requirement is that you do not have a current “open” bankruptcy. As you can see the qualifications are quite simple for a business cash advance as compared to a normal commercial loan.

There are also a few great benefits of using a business cash advance, such as: The money can be used for any legal purpose you see fit… Do you need to buy new equipment, do you need to hire new employees / salespeople, are you ready go grow your business? You are also free to continue looking for additional lines of credit, as the business cash advance will not report the cash to any credit bureaus. Money can be obtained without out a long drawn out process involving piles of paperwork. In fact, there is a very simple one page application to get started. (It takes only about 3 minutes to complete… and can even be completed online.) Business cash advances of up to $600,000 can be funded in as few as 10 days!

If you local financial institution tells you “NO”, don’t give up. A business cash advance can give your business the boost of working capital it needs!

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