Business cash advances is a quick and easy way for virtually any business to get access to money very quickly. Although business loans and cash loans are the most common ways to fund your business activities, here are some fundamental problems with this which is why cash advances are becoming so popular.
Traditional loans can take forever to clear. The application process is slow and cumbersome and even if you are running a very successful business, it can be hard to get the money you need to grow your business. These types of loans are also very expensive in most cases and you may end up paying it off for years to come - often spending a lot more than you anticipated.
Business cash advances are quite different in that they don't work like a loan. It works on a concept called factoring and basically it allows you to get money in as little as 48 hours. The way it works is that you use your business' credit card history as collateral and instead of getting the money as a loan you "sell" a portion of your future credit card sales to the lender.
Obviously your business needs to process major credit cards like Visa and MasterCard if you want to qualify and the amount of credit card sales you do per month will determine the amount of money you can get. In most cases you need to provide proof of at least 6 months worth of credit sales as your business cash advance will be determined by this.
The way you repay the advance is probably the one thing that is least understood. You won't make monthly payments towards the loan. Instead your original agreement with the lender will automatically deduct a percentage of your future credit card sales.
The great thing about this is that is reduces your risk in that you only make payments when you make money so you won't end up with the burden of loan repayments during difficult months. Obviously there are a lot of terms and conditions and heavy penalties apply in certain circumstances but all in all this is a great financing option if you need a quick business loan.
Easy Cash In 1 Hour. No Faxing Payday Loan Advance. No Faxed Document. Fastest Approval. Get Quick Loan Now!
Rating of advance cash loan payday quick
Get Online Application at online payday loans.