Small Business Development
Why A Business Cash Advance Can Work For You by Mark
Youíve no doubt heard the saying, ďIn order to make money, you
have to spend money.Ē As a small business owner, you know how
difficult it was to get your idea off the ground to begin with.
You probably had to take out bank loans, providing lenders with
personal information, and you more than likely had to fill out
stacks of paperwork. You worked very hard to realize your dream
of being your own boss, and it has paid off. Now, you might be
at a point that you feel your business needs to expand, or you
might have a great marketing idea that can take your small business
to the next level, or you may just need some new office equipment.
The problem is that you donít have the cash on hand to bring those
ideas to fruition. You just donít want to have another business
loan to worry about, making high interest payments, and putting
your credit rating at risk. And if you donít need to borrow more
than a few thousand dollars, most banks will not consider you
for a loan anyway. There is a possible solution for you; you might
want to consider a business cash advance.
A business cash advance works by allowing you to borrow against
the future earnings of your business, rather than using your personal
credit or collateral. The money you borrow is deducted from your
businessí future earnings from Visa and Mastercard receivables
until the advance is paid back. All revenue earned for your business
through cash, check, or other types of credit cards is untouched
by the lender. There is no monthly payment schedules or finance
charges involved. This is ideal for the small business owner who
does not want the hassle of applying for a bank loan. You simply
pay back the cash advance as you watch your business expand. You
donít have to worry about the pressure that a bank loan would
put on your personal credit rating or your checkbook. And you
donít have to put your family home at risk.
Though a high credit score is not mandatory, there are some qualifications
you must meet if you intend to apply for a business cash advance.
Many lenders require that you have been in business for at least
one year. You must also offer credit cards as a means of payment
for your customers. You will also have to provide a minimum amount
in credit card receipts going back for a determined amount of
time. The money advanced to you can be used for an unlimited amount
of business expenses, from new equipment, payroll, taxes, advertising,
remodeling, and anything else you need money for in order to make
your small business great. When you apply for a business cash
advance, and you meet all of the lenderís qualifications, approval
is often as quick as 24 hours. There is generally no application
fee, either. In most cases, you will have cash deposited into
your business account in 5 days.
If you need funding to improve or expand you small business, or
if you need funding for any other expenses for your small business,
you might want to consider a business cash advance. Unlike a bank
loan, you wonít have to put your personal credit on the line,
you wonít have to put your house up as collateral, and you wonít
have to provide business plans or tax statements when you apply.
There is no timeline for repayment, as payments to the lender
come from Visa and Mastercard sales as they come in. If you meet
all the criteria upon application, then a business cash advance
is most certainly the quickest and easiest way of making your
small business dreams come true.
Learn the essential information for picking the right loan service
Article Source: ArticleRich.com