Funding Expansion With A Business Cash Advance
Understanding The Business Cash Advance
A business cash advance is considered short-term funding focused on providing cash to small businesses. Other longer term loans generally relate to larger amounts of money. A business cash advance is not a traditional loan in the way you have come to understand bank loans. This is a funding option that is best defined as an arrangement where cash is provided to the small business in advance. The funding is tied to the business’ average daily sales.
Why Would You Choose A Business Cash Advance Over A Traditional Loan?
A business cash advance is short-term funding to help a business get through different situations. Businesses take this quick funding with the understanding they will be repaying the funds in addition to specific fees. This can often cost more than a traditional business loan because of the fees and the return rate.
Approval for a business cash advance is quick and simple. After the approval takes place, for the provider usually takes a percentage of the business’s sales each day. A huge benefit to the fixed percentage retrieval of daily revenue is towards seasonal businesses. During the times when your business is not driving as many sales, the amount you pay back lowers as well, since it is a fixed percentage, not a fixed dollar.
A business cash advance is not for everyone. But for those who feel it is right for them and their type of business, it can pay off as you grow your business. The ability to get cash-in-hand quickly can make all the difference as you are starting out. You have the chance to have a provider look at the potential of your business, not the history. With the opportunity to focus on a payback schedule that matches your business, a business cash advance has its benefits.
Business Cash Advances for Expansion
This is key when the time comes to discuss expansion. When you expand, it’s not just a matter of picking a new location. You will need new equipment, new staff, and who knows what else may pop up during the process that requires your attention? While smart planning will help mitigate some of this randomness, the time will come where you may need funding quickly. This is where a business cash advance can save you.
Don’t make the mistake of thinking that a business cash advance is strictly an emergency funding tactic, though. You can also get one in anticipation of certain expenses. The nature of repayment means that you don’t have to worry about stacking large payments, and their accessibility means that you can get one even if you are lacking in credit or some of the other major loan criteria.
How Can I Begin?
eBusiness Funding helps businesses that may struggle with traditional lenders. To do this, we provide merchant cash advances. These are accessible to a wider spread of businesses than bank loans or private lenders. 95% of businesses that meet our simple requirements qualify for funding. All you need is to be in business for at least six months, with over $10,000 in monthly revenue. With us, it’s not about past credit history or collateral, but about your business’s potential.
It’s important to us that you use the funds we offer in the most helpful way possible. As a result, so we place no limit on how you spend our advances. Payroll, expansion, repairs, spend on what you need! We also get you your funds fast, sometimes as soon as 72 hours after you first apply. Repayment is also very simple. Rather than large monthly payments, we take a set part of your future sales. This is set up by our skilled consultants. This percentage stays the same, so if business slows down, you pay less.
Interested? All it takes to begin is filling out a simple contact form. We’ll be waiting, and are looking forward to helping your business get the funding support it needs.