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Business Cash Advance
Recently, in the business financing world, there has been a lot of buzz about cash advances. Many businesses have taken advantage of this alternative to the more traditional forms of financing and lending. Additionally, it has become a very common topic among a number of financial and business bloggers worldwide. So what is it about a business cash advance that makes it such a popular funding option? First and most importantly, it is not a loan and is based on estimated future sales.
The Primary Advantages
For those businesses that frequent and strong credit and debit card sales, a business cash advance can be extremely advantageous. As one of the more attractive alternatives to the more traditional types of financing and lending, a business cash advance offers the following five advantages:
Collections are based on revenues so fixed monthly payments do not apply (basically, monthly payments will vary and the lender gets paid when you do)
- Has a higher rate of approvals because they rely on the performance of your business and not your credit rating
- Provides quicker access to cash and quicker turnaround since there is very little paperwork to deal with
- The application and collections processes are easy and very direct from start to finish
- Your credit rating is not at stake and there is no collateral required so it is a safer approach to accessing the cash needed for your business
Remember, in the world of smaller and mid-sized business, it is a company’s cash flow that is king. A business cash advance could be vital to the survival of your company especially when it comes to expansion and growth, maintaining your inventory, and paying off your suppliers and vendors.
Factors to Consider
Before you decide on applying for a business cash advance or another financing option, you need to determine how quickly you need the funds. Sometimes there are unexpected demands or expenses that crop up such as needing the funds for a one-time purchase of special inventory. This is where the quick access to those funds comes in handy. Needless to say, this is a huge advantage for smaller businesses.
Business Cash Advance or Business Loan
You may still be having a tough time trying to decide between a business cash advance and a business loan. The best course of action is to research both financing solutions and learn the pros and cons of each option. Biz4Loans can help you decide which option will work best for your specific business needs. Our specialists can evaluate your business operations and suggest the best course of action so that everyone benefits in the process. We would be happy to assist you with any of your financing or lending needs so contact us via e-mail at email@example.com or call us at (888) 943-1497 today.