Financing a small business can be a challenge, especially when the company has only been established for a short period of time. Though traditional financing might not be available, other options are still available. A business cash advance is a solution to financing problems and it has benefits that can appeal to small business owners who need cash to continue the growth of their company.
High Approval Rates: One of the major benefits of a business cash advance is the high rate of approval when compared to other loans and financing options. Since the qualification requirements are not as strict as traditional financing, the cash advance can result in approval even after other loans were not approved. Specific qualification requirements vary by lender, but most lenders require at least one year since the company was established, proof that the company is making profits and that the business accepts credit cards.
No Collateral: Unlike other loans, a business cash advance does not require putting down any collateral against the loan. Instead, the lender uses the fact that the company takes credit card payments as the measure for approval.
Flexible Repayment: The flexibility in repayment is one of the greatest attractions of this type of loan. Instead of requiring a fixed monthly payment, a business cash advance takes a fixed percentage of credit card sales. This helps provide flexibility and prevents complications that might occur when the company has a slow month. By taking a percentage of the credit card sales, the amount varies each month and it is easier to manage payments.
Quick Financing: For companies that are struggling to find funds, it might be necessary to look for measures that will give immediate cash. A business cash advance provides a solution because the approval times are much faster than traditional loans and it is possible to have money available for company growth within a few days of applying.
Taking out an advance can provide small companies with a solution to the puzzle of obtaining financing. Business growth requires cash and an advance gives the money without the hassles and complications of traditional lending options.
For more information, go to Business Cash Advance at http://www.unsecuredbizloan.com/business-cash-advance