If you are wondering how you will come up with the money to invest into your small business but are unsure if you should go with a traditional bank loan or a cash advance, you’ve found the right place to learn why a small business cash advance will save you a lot of time and hassle that is required in order to get a regular loan from your local bank.
First you’ll need to make and wait for an appointment at which you will have to present an immaculately prepared business plan to your banker. After which you will fill out more paperwork and then wait while they go through the approval process. You may need to pay application and processing fees and you’ll have to put up collateral or personal guarantees to make the loan secure. You’ll have restrictions placed on how you can use the money and a fixed monthly payment.
On the other hand, you could spend less time applying for a small business cash advance and use the time you saved to invest man hours into your business. Getting a cash advance is a simple process. You’ll fill out a simple, one-page application from the comfort of your home and submit it to the lender. Within twenty-four hours you’ll receive notification from the lender as to whether or not you have been approved. Cash advance lenders have much higher approval rates than banks, so your chances of being approved are significantly improved using this method.
The money, up to $500,000 depending on your business and other factors, will be deposited into your bank account within two weeks. Paying back the cash advance is simple. You can work with your lender to create a flexible repayment plan that works for both you and them. Finally you can use the money for any part of your business, the lender won’t ask to see records of where the money went.
Now that you know the differences in restrictions, you can make an informed decision that is right for you and your business. Both types of funding have their good and bad points, though with a small business cash advance, you’ll face fewer restrictions on how to use the money and how much you’ll receive.
For more information, go to Small Business Cash Advance at http://www.unsecuredbizloan.com/small-business-cash-advance