Alternative Business Financing Business Cash Advance - vs - Small Business Loans
If you are a business owner, been in business or tried to start a business, you know that it's very difficult to obtain a business loan. It is actually easier to finance a $50,000 car (which will not make any money for you) than to get a $50,000 business loan. Since I've been a SCORE counselor, over 92% of the entrpreneurs did not qualify for a business loan of any size, including the Small Business Administration (SBA) Guarantee Loan Program.(Source: SBA)
Matter-of-fact, most banks will not consider providing a business loan if you;
are in business less than 2 years
had credit problems, low credit score or no credit
do not have enough collateral to cover loan
need under $100,000
Even if you qualify, you must provide the following minimum to be considered;
A comprehensive business plan
Audited Tax Returns for 2-3 years
Detailed Financial Statements
Personal Guarantee regardless of legal entity
Pay an application fee and closing costs
As a small business owner, I have successfully borrowed money from the bank at a high price. It cost me a friendship, (family friend who co-signed loan), which I paid back but the stress on paying back the loan using someone else credit ruin the relationship. The second time I borrowed money from the bank, it cost me my home as collateral and ruin my relationship with my wife when I couldn't pay it back. What I learned is most people never successfully received a business loan from any bank, even with good credit. However, if you ever need money, there is an alternative financial source without co-signers or putting your home as collateral.
Business Cash Advance
Most retail storefront businesses and restaurants that has been in business over one year, usually accept credit cards as a form of payment. Rather than using your personal credit, personal collateral (such as your home), personal guarantees or co-signers, you will sell your future credit card receivables at a discount to our business cash advance investment partners. This is similar to a factor company, except it uses your credit card receivables rather than business to business invoices.
The Business Cash Advance Investment Company purchases your credit card sales depending on certain predetermined qualifications. Because they purchase your credit card receivables, it is not considered a loan. Even though there is no interest rate or monthly repayment terms, this is not a free grant either.
Business Cash Advance Repayment
The business cash advance investment companies are repaid through your future Visa and MasterCard credit card sales. You keep 100% of your cash, checks, American Express, Discover and other form of payment acceptance. There is no fixed monthly payment schedule. They are paid automatically whenever you have a Visa or MasterCard sale or on a weekly basis. There are;
No Fixed Monthly Payments
No Late Payments
No Harassing Collection Calls
Unlike venture capitalists, family and friends, we do not take equity ownership of your business. Best of all, you can use the money for any business purposes. Our clients has used the money they received from us for payroll, taxes, emergencies, inventory, new equipment, remodeling and expansion.
Why is it called a Business Cash Advance and not a Business Loan?
When a bank makes a loan, it is regulated by state and federal government regulators. There are specific rules and regulations they must follow. Should they not follow those guidelines, they risk heavy fines, reduction of credit ratings and possible receivership (That's bankruptcy for a bank!).
Rather than lend you money like a bank, we purchase your future credit card sales at a 20-33% discount. A monthly percentage of future sales is used to determine repayment. There are no bank loan repayment schedule, no monthly invoice statement, no penalties and no late fees. (How about rebuilding a positive credit rating with little effort!) Repayment occurs automatically and follow your business revenues. We don't get paid unless you do! We invest in your business. This is not a loan or a grant, it is an investment. As investors we seek a 20-33% return on our investment.
Small Business Loan -vs- Business Cash Advance
Small Busines Loan
Business Cash Advance
High Credit Score Required
High Credit Score Not Required
Business Plan Required
Business Plan Not Required
2-3 Years Personal andBusiness Tax Returns
Tax Returns Not Required
2-3 Years Personal and Business Financial Statements
Financial Statements Not Required
Personal Guarantee Required
Guarantee Against Fraud or Intervention
Application Fee
No Application Fee
Closing Costs & Hidden Fees
No Closing Costs or Hidden Fees
Lengthly Approval Process
Approvals in 48 Hours in Most Cases
Collateral on All Business and Personal Assets
Collateral is Your Future Visa and MasterCard Credit Card or Cash Sales
Fixed Monthly Payment Schedule
Repayment Based on Current Credit Card or Weekly Sales
How to Qualify
If you meet the basic requirements, there is an 90% chance of approval, compare to the bank's 92% chance of rejection.
Must be in business a minimum of one (1) year (some exceptions)
Currently accept Visa and MasterCard credit cards with a minimum of $2,500 per month processing volume (some exceptions)
Must be a fixed commercial retail business, service company or restaurant. (Sorry, no home-based, Internet, Adult businesses)
Can provide at least three (3) months of Visa and MasterCard processing statements & three (3) months bank statements
Must be willing to convert credit card processing. (We guarantee to meet or beat your current rates and fees, plus, help you increase sales and profits)
Minimum Credit Score: 500 (over 90% of credit scores are over 500)
Meet other minor requirements
Most applications are processed in 24-48 hours. Once approved, you will receive a lump of cash directly in your bank account in as little as 5 business days. After you received funding, you will have the opportunity to have access to additional capital, if desired.
How much money can I get?
You may qualify from $5,000 to $500,000 per location. Inside Secret: The more you do in sales, the more you can get! Simply provide proof with your merchant credit card & bank statement.
Matter-of-fact, most banks will not consider providing a business loan if you;
are in business less than 2 years
had credit problems, low credit score or no credit
do not have enough collateral to cover loan
need under $100,000
Even if you qualify, you must provide the following minimum to be considered;
A comprehensive business plan
Audited Tax Returns for 2-3 years
Detailed Financial Statements
Personal Guarantee regardless of legal entity
Pay an application fee and closing costs
As a small business owner, I have successfully borrowed money from the bank at a high price. It cost me a friendship, (family friend who co-signed loan), which I paid back but the stress on paying back the loan using someone else credit ruin the relationship. The second time I borrowed money from the bank, it cost me my home as collateral and ruin my relationship with my wife when I couldn't pay it back. What I learned is most people never successfully received a business loan from any bank, even with good credit. However, if you ever need money, there is an alternative financial source without co-signers or putting your home as collateral.
Business Cash Advance
Most retail storefront businesses and restaurants that has been in business over one year, usually accept credit cards as a form of payment. Rather than using your personal credit, personal collateral (such as your home), personal guarantees or co-signers, you will sell your future credit card receivables at a discount to our business cash advance investment partners. This is similar to a factor company, except it uses your credit card receivables rather than business to business invoices.
The Business Cash Advance Investment Company purchases your credit card sales depending on certain predetermined qualifications. Because they purchase your credit card receivables, it is not considered a loan. Even though there is no interest rate or monthly repayment terms, this is not a free grant either.
Business Cash Advance Repayment
The business cash advance investment companies are repaid through your future Visa and MasterCard credit card sales. You keep 100% of your cash, checks, American Express, Discover and other form of payment acceptance. There is no fixed monthly payment schedule. They are paid automatically whenever you have a Visa or MasterCard sale or on a weekly basis. There are;
No Fixed Monthly Payments
No Late Payments
No Harassing Collection Calls
Unlike venture capitalists, family and friends, we do not take equity ownership of your business. Best of all, you can use the money for any business purposes. Our clients has used the money they received from us for payroll, taxes, emergencies, inventory, new equipment, remodeling and expansion.
Why is it called a Business Cash Advance and not a Business Loan?
When a bank makes a loan, it is regulated by state and federal government regulators. There are specific rules and regulations they must follow. Should they not follow those guidelines, they risk heavy fines, reduction of credit ratings and possible receivership (That's bankruptcy for a bank!).
Rather than lend you money like a bank, we purchase your future credit card sales at a 20-33% discount. A monthly percentage of future sales is used to determine repayment. There are no bank loan repayment schedule, no monthly invoice statement, no penalties and no late fees. (How about rebuilding a positive credit rating with little effort!) Repayment occurs automatically and follow your business revenues. We don't get paid unless you do! We invest in your business. This is not a loan or a grant, it is an investment. As investors we seek a 20-33% return on our investment.
Small Business Loan -vs- Business Cash Advance
Small Busines Loan
Business Cash Advance
High Credit Score Required
High Credit Score Not Required
Business Plan Required
Business Plan Not Required
2-3 Years Personal andBusiness Tax Returns
Tax Returns Not Required
2-3 Years Personal and Business Financial Statements
Financial Statements Not Required
Personal Guarantee Required
Guarantee Against Fraud or Intervention
Application Fee
No Application Fee
Closing Costs & Hidden Fees
No Closing Costs or Hidden Fees
Lengthly Approval Process
Approvals in 48 Hours in Most Cases
Collateral on All Business and Personal Assets
Collateral is Your Future Visa and MasterCard Credit Card or Cash Sales
Fixed Monthly Payment Schedule
Repayment Based on Current Credit Card or Weekly Sales
How to Qualify
If you meet the basic requirements, there is an 90% chance of approval, compare to the bank's 92% chance of rejection.
Must be in business a minimum of one (1) year (some exceptions)
Currently accept Visa and MasterCard credit cards with a minimum of $2,500 per month processing volume (some exceptions)
Must be a fixed commercial retail business, service company or restaurant. (Sorry, no home-based, Internet, Adult businesses)
Can provide at least three (3) months of Visa and MasterCard processing statements & three (3) months bank statements
Must be willing to convert credit card processing. (We guarantee to meet or beat your current rates and fees, plus, help you increase sales and profits)
Minimum Credit Score: 500 (over 90% of credit scores are over 500)
Meet other minor requirements
Most applications are processed in 24-48 hours. Once approved, you will receive a lump of cash directly in your bank account in as little as 5 business days. After you received funding, you will have the opportunity to have access to additional capital, if desired.
How much money can I get?
You may qualify from $5,000 to $500,000 per location. Inside Secret: The more you do in sales, the more you can get! Simply provide proof with your merchant credit card & bank statement.
2 comments:
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Business Cash Advance
Good articles, Have you heard of Mr Benjamin, Email: 247officedept@gmail.com --WhatsApp Contact:+1-9893943740-- who work with funding service they grant me loan of $95,000.00 to launch my business and I have been paying them annually for two years now and I still have 2 years left although I enjoy working with them because they are genuine Loan lender who can give you any kind of loan.
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