If you are in need of quick funding for your company to pay for emergencies, it may be advantageous for you to get a business cash advance. We’ll be discussing how to go about this, in today’s article.
A business cash advance works very much like a personal advance. Also, depending on how strong your company is, you may be required to personally guarantee the advance. In order to qualify, you must demonstrate approximately the last six months of revenue. Typically, with bank loans you’ll need to have some further income verification. However, that is not the usual case with advances.
Your last 6 months of revenue and sometimes your personal and business credit scores will also need to be provided. The cutoff for an acceptable credit score is much lower for these short-term high interest loans, but you’ll typically need a personal score over 600 or the business credit score equivalent. This varies, depending on how many years you’ve been in business, the amount of revenue you make each month, and the amount you are borrowing.
Once you’ve furnished all of this information, and attached it to your application, it will be reviewed by the underwriter for approval or denial. Typically, this process is very quick, less than 48 hours. If you are approved, you can have the funds deposited directly into your account, or you can have a check mailed to you via US Mail, if that is your preference. Repayment should be made within 6 months to avoid paying too much in interest.
For more information, go to Business Cash Advance at http://www.unsecuredbizloan.com/business-cash-advance/