Discover Superior Funding Sources Through a Business Cash Advance

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To operate efficiently and ensure continued growth, small businesses today need the financial resources to weather fluctuations in the economy. However, it can be difficult for emerging entrepreneurs to arrange financing through traditional funding institutions, which require a lengthy application process.

Fortunately, there is a variety of lending alternatives available for business owners, and oftentimes, a business cash advance can provide a superior source of working capital for operational expenses.

Opposed to traditional loans, a business cash advance includes simplified approval requirements, flexible allocation of funds, and percentage based repayment terms, making this type of merchant funding a desirable option for many seasonal or service based businesses.

Faster, Easier Approval

The daily operational expenses to maintain a facility, workforce, and inventory require working capital, no matter the size, and these fixed costs don’t disappear during a slow sales month.

However, unlike traditional loans, the application for a merchant cash advance doesn’t rely on ownership credit scores, current net worth, or business credit history for approval.

Utilizing the company’s credit and debit card receipt record, a cash advance lender can review past sales and determine an amount according to the previous records.

The entire application process is streamlined with simplified procedures to create a speedy approval time of days, rather than the weeks or months required by banks or other loan institutions. Even companies with a less than stellar payment history can qualify based on actual sales.

Flexible Funds Allocation

Most traditional loans specify where and how the funds can be utilized in the business. A loan for an equipment upgrade provides the exact amount for the purchase, which then becomes listed as collateral for the loan.

Yet, a business cash advance allows small business owners the flexibility to allocate the funds at their own discretion. This option enables the proprietor to place additional capital where it is needed most.

Innovative Repayment Plan

Even simple interest loans establish a fixed monthly payment amount, but businesses that function under certain conditions, such as catering to a specific demographic, or operate based on seasonal tourism or products, know that fluctuating sales can affect their ability to make monthly payments.

business cash advance is different. By implementing a new card terminal system or using your current system, the lender is able receive a percentage of each transaction, and apply the amount to the repayment. Essentially, the business repays the cash advance through a designated portion of each transaction.

Extremely helpful during slow weeks or months, this type of innovative plan allows businesses the freedom to operate without an additional monthly bill.

A business cash advance provides superior financing solutions for private practices, service-based companies, or any small business because it is able to offer approval, allocation, and payment flexibility that are absent through traditional lending avenues.

 

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