Apr
05

Top 3 Reasons to Choose a Business Cash Advance

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More businesses are turning towards business cash advances than a traditional, secured business loan.  There are many reasons for the switch.  Here is a breakdown of the top three reasons why a business cash advance is more suitable for small businesses.

Business Cash Advance is Quick

Check with a lender to be certain you qualify for a business cash advance.  If you do, then you will be happy to discover it takes approximately 24 to 72 hours to be approved, walking away with money in -hand.  Alternatively, a traditional bank business loan takes months for the application process and even longer before receiving any cash.  This is a huge problem if you need the money upfront to remain open for business covering operating costs.  A secured business loan would not be sufficient.

Bad Credit does NOT Harm the Process

Your personal and/or business credit score is insignificant when qualifying for a business cash advance.  The eligibility requirements rely heavily on your credit card sales activity itself.  Ask a lender for the specific requirements.  However, on average, payments are made via your credit card sales transactions.  Hence, you must ring up a particular amount of credit card sales regularly to qualify.  This is a great option for those with bad credit scores.

Collateral is Unnecessary

A business cash advance is based on different criteria than a traditional business loan.  For instance, a business cash advance does not require collateral to be used in the transaction.  Translation, your business equipment, property and assets remain safe.  This makes a business cash advance a wise choice to pursue.

Find a lender offering business cash advance services.  Inquire regarding how long does the process take, what paperwork is needed, and when will you receive the cash.  A professional lender will be able to answer all of your questions, and direct you onto the right path to financial recovery.

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