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Business Cash Advance

Business Cash Advance

A business cash advance, also known as a merchant cash advance, is a unique financial product with several distinct features. It is a ready source of money for small businesses that require funds urgently but do not have access to traditional lenders. To avail of this facility, the small business seeking funds should have substantial credit card sales. In this mode of financing, a business cash advance provider pays an amount to the small business as an advance. The provider of funds then recovers its money by taking a percentage of every credit card transaction that the small business does till the complete dues of the company making the advance are recovered. As a borrower, you should note that between 10% and 20% of every credit card sale that you make will go to the business cash advance company. These payments will add up to repay the sum paid to you and also go towards compensating the merchant cash advance company for the interest component of the transaction. This facility is not legally defined as a loan. But if you were to calculate the implied annual percentage rate (APR) in a business cash advance transaction, it would turn out to be quite high. But the primary consideration for a small business that is availing this facility should be whether it can bear the deduction of between 10% and 20% from every credit card sale that it does. A merchant cash advance / business cash advance has another special feature. Since it is not a loan, it does not get reported to credit bureaus. Because of this reason, it will not result in the credit score of the small business using this facility undergoing a change. If you are planning to get a business cash advance you should be prepared to switch your credit card processing and point of sale system. The cash advance company may insist on this as it uses its own hardware and programs to monitor your sales and divert the agreed amounts to its bank account. Small businesses use business cash advance facilities to purchase inventory, make employee payments or even to support growth by opening up additional locations. This facility is especially suitable for companies that require financing for three to 15 months. For many small businesses, it can provide immediate finance when they need it most and have nowhere else to turn to.

With over 500 business lenders, you are sure to find one that can help your small business get the money it needs to succeed. Most of the lenders work with all types of business lending options and are flexible with the amount you may be asking for. Most times you just need to fill out a quick and simple loan application and you could get your money in as little as 24-48 hours. It’s time to see what your business can do!

Accountable Capital Corp.

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(41 reviews)

1st Choice Advance

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(0 review)

1st Merchant Funding, LLC

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(0 review)

A-1 Cash Advance

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(0 review)

Accountable Capital

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(0 review)

ACE Cash Express

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(0 review)

Advance America

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(0 review)

Advance Funds Network

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(0 review)

Advance Loan

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(0 review)

Advanced Check Cash Advance

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(0 review)