Running a business in USA? small business & professional large scale business always require a good loan. to have a good loan you should know about a good loan provider. business cash advance is a loan for short term usually 4-12 month financial alternative, providing quick access to finance your necessary business expenses. this article has intend for loan seeker who need a loan for small business.
What Is Business Cash Advance
Business cash advance is being an unsecured loan to safe your personal assets are safe and 100% risk free loan service. in another name it called short term loan for small business. large business loan require at least 250k revenue per year so this one might not best for small business owner. through the business cash advance you may have $2500-5,00,000 loan from anywhere in USA. Your loan amount will determine based on your credit history, monthly business revenue and performance. business cash advance can be used for various purpose like inventory management, payroll, renovation, paying vendors, improving technology, buying equipment, stock up for a season, etc. absolutely, no restriction to use business cash advance.
Loan Application & Documentation
You must be at least 6 month in business and at least $5,000 monthly revenue need to display before applying for business cash advance. once you meet requirements collect your last 3 month statement, 3 month credit transaction processing statement & landlord contact details or lease agreement. these three things will be required to apply for business cash advance.
You have to provide following information on application processing time-
- Social Security number
- Business Federal Tax ID / EIN
- Average monthly gross sales figures
- Average monthly credit card sales figures
To be fair, i want to remember you- maximum business cash advance loan processor do not charge any fee to process application. they should support all kind of business & industry for loan customer. if you think something mismatch with my articles then look another provider. also note you personal credit score is not the sole requirement to offer you business cash advance.
Maximum loan provider take only one working days to delivery fund. time frame is not a complex matter if they take one day more when busy schedule in office. for any additional business cash advance loan you need make sales & accept credit card payment. to pay off the cash advance you can use ACH daily debit from a business checking account.
Where & How to apply
There is no specific place that you must apply for the loan. i can say make a google search to find your best one online.