Posts Tagged ‘advance’

by jaimelondonboy

Business Financing With Cash Advance

The most critical decision for any small business is to find the right source of financing. The market offers a host of financing solutions, enough to confuse an entrepreneur. The nature of business funding depends on the nature of business and thus a thorough understanding of various funding avenues is of prime importance for any entrepreneur.

One of the most common forms of financing is to seek it from friends and family. Not only are they less stringent as per the norms but also are less expensive by way of repayment interest. However, a lot depends on the kind of relation a person has with his friends and family members. Irregular repayments and asking for further financial assistance might lead to a feud that can have an adverse effect on the relationship.

Bank loans are another popular method of financing a small business concern. These loans are available in various formats and have fairly stringent guidelines. A loan can be available in the form of secured or unsecured loan. A secured loan is the one that requires a collateral/ security for the loan to be sanctioned. In the event of non-repayment, the bank gains the right to sell that collateral and recover the amount. On the contrary, an unsecured loan does not need any security. However, the interest rates are typically higher than that of secured loans. Apart from these the guidelines set by the bank, loans are often very stringent to comply with. A good credit score is an important parameter that determines the eligibility of an applicant. These loans are easier to sanction only if an applicant has the backing of assets or third party guarantors. Thus, a small business concern might find it difficult to get the required loan amount sanctioned from a bank.

A business cash advance is by far the best method of funding a small business. Neither do they need a credit score nor do they have a stringent repayment scheme. Besides, the eligibility criteria are fairly easier to comply with. A small business needs to be at least two years old and should accept credit cards as a form of payment. Apart from that the business should ideally process a minimum amount of payments per month and should provide the credit card statements and bank statements for the last three months or so. The best part of a business cash advance is that the borrower does not have to bother about the repayments every month since the amount is repaid automatically from the credit card sales.

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by Lancashire County Council

Business Cash Advance – Easy Business Financing

The business cash advance is one of the easiest methods of business financing, making it the perfect funding option for busy, cash-strapped merchants.

What Makes it so Easy?

The Process

Traditional business funding methods, such as bank loans, often come with long application and review processes that require extensive paper work and preparation.  The business cash advance is completely different.  The only things that are required when applying for a business cash advance are:

A completed two-page application The last four months of merchant statements A copy of the business lease A copy of the owner’s driver’s license A voided business check

Once this information and documentation is submitted, providers can approve applications in only 48 hours and fund business cash advances in as little as five business days.

The Repayments

Repayments are one of the simplest and most convenient parts of the business cash advance.  Many business owners may be used to making fixed monthly payments when they’ve borrowed money, but business cash advance providers employ a different repayment method, in which borrowers never have to remember to make a payment.  The provider will automatically deduct a small percentage from daily credit card sales to repay the business cash advance.  In about seven months, the repayment will be complete.

The Renewals

Every three to four months, business cash advance borrowers become eligible to renew their accounts.  Applications are not required when renewing and merchants can have funds in their accounts in as little as 48 hours.

A merchant will never know how easy a business cash advance really is unless he/she tries it.  Get a free online quote today!

by bisgovuk

Credit Card Advance: The New Wave of Small Business Financing

The new wave in small business financing doesn’t only mean more and more opportunities for non-traditional small business lenders. It also brings an upsurge in opportunities for small business owners who would not have thought twice about such methods of financing had bank loans remained as easy to obtain as they have been in the past.

Small business owners have the chance to explore alternate sources of business financing, evaluating their businesses and determining what is best for them individually.

One of these increasingly used and sought-out methods of business financing is the credit card advance. With a credit card advance, lenders can give small business owners a loan, the sum of which is solely determined by the business’s monthly credit card sales. That sum, in turn, is also repaid through the business’s credit card sales. With a credit card advance, it does not matter how quickly or slowly the loan is repaid. There is never a penalty, fine, or interest for slow or fast repayment. In fact, once a certain portion of the advance has been repaid, borrowers become eligible for renewal. This unique feature gives small business owners a sense of security knowing that money is always readily available, should they ever need it.

The fact that the borrower’s credit history is virtually irrelevant during this process is also very appealing to many business owners. Because of this, many people who may feel they could never be eligible for a business loan are actually eligible to receive credit card advances.

What is the Credit Card Advance Process, From Beginning to End?

The first step to receiving your credit card advance is completing an application. This can be done online or on paper. Along with your application, you will be asked to submit your business’s most recent credit card statements. Lenders may ask for anywhere from three month’s to one year’s worth of credit card statements.

Overall, the credit card advance process is very speedy. That said, your application can be reviewed and approved in a matter of days, and your account can be funded in about one week. Immediately following funding, the repayment process begins. As a small percentage of your business’s daily credit card sales goes towards your credit card advance repayment, you continue business as usual, and enjoy your newfound business funds. Of course, this percentage will be explained to you along with all of the other numbers, before you agree to accept your credit card advance.

People say that if you try to solve a problem the same way every time, with no solution, it’s probably time for a change. Embrace the changing times and look into a credit card advance. It could be just what your small business needs.

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