If your company has had a sudden emergency, it’s likely you’ll need funds quickly. A business cash advance can be a reasonable source of income in such a case. However, use this option with caution; it comes at a very high price. Typically, the interest rates are in the double to triple digits annually. This means you should only borrow for a short period of time. We will discuss the business cash advance process in today’s article.
Unlike a traditional bank loan, business cash advances do not have the same stringent requirements, in terms of approval. You won’t need to demonstrate your long-term business viability. Rather, you’ll simply have to show your short-term business revenue. The reason for this is that they are short-term loans, so the lenders are only concerned about your ability to pay them back in the short term. This also shortens the process for approval.
As mentioned, the approval process is much faster. In fact, if you are fast about submitting all of your paperwork, you can get approved in as little as 24 hours and funded in as little as 72 hours. Of course, this depends on how organized you are with your company’s financial documents. The speed of these loans is the reason why this source of funding is advantageous for emergencies.
Essentially, you only have to submit your company’s recent revenue statements in order to be approved. I personally recommend that you have a line of credit or other source of income available for emergencies. Alternatives would be much more affordable than a business cash advance. However, the service is available if you need money in a rush.
For more information, go to Business Cash Advance at http://www.unsecuredbizloan.com/business-cash-advance/