Step 28. Applying For Business Cash Advance

This type of financing is similar to personal payday loans. The interest is high and they are usually reserved for business with poor credit. If for some reason, you can’t qualify for other types of financing, a cash advantage might be your only option.

Business Cash Advance Explained

This is certainly a short term loan and you should already know how and when you’ll be able to pay it off. Have the all cost figured out before taking financing,

  • Getting The Most Out of Business Cash Advances:

    – Fix short-term cash flow issues
    – Deeply discounted inventory purchasing
    – Unforeseen expenses
    – Short-term cash for debts that have come due

  • Advantages of Business Cash Advances:

    – Able to access cash quick
    – Payments are commonly based on the percentage of daily sales
    – Don’t need to have great credit
    – No restrictions on use of funds
    – Don’t have to put up collateral

  • Disadvantages of Business Cash Advances:

    – Can have APRs range from 70% – 200%
    – Must meet minimum daily payment
    – Unlike other loans that can help bulid credit, this type of financing does’t
    – Can be locked into specific merchant processor
    – Business must provide bank account info or accept credit card payments

Apply For Business Cash Advance CLICK HERE

Pay careful attention to recommendations posted on the “Learn More” link before you apply.

To Do List To Complete In This Step

1. Review various lenders and their terms and apply for business funding.

2. Pay careful attention to recommendations posted on the “Learn More” for each lender. Protection Status >

Business Cash Advance
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