Advance Cash Services: Small Business Financing for the 21st Century


Minyang Jiang

No longer are small business owners limited to the big bank for a loan. These days, there are a host of other financing options available, all of which are much easier to be approved for and allow nearly-instant access to the money. Modern businesses depend on advance cash services for various financial needs.

Modern Small Business Financing Solutions

At Credibly, our funding options can be tailored specifically to meet your needs. Check out some of the small business financing programs you can take advantage of right now:

Merchant Cash Advances

A merchant cash advance is a quick and easy way to get fast cash without the need for collateral, good credit, or a long history being in business. If a lot of your sales are paid via credit card, a merchant cash advance can be the perfect short-term financing tool to help you deal with slow cash flow.

With this type of program, you get a quick business cash advance with very little paperwork necessary. You then agree to pay back the funding by allowing a percentage of your credit card sales to be garnished until the total amount has been paid back. This means you repay a lower amount during slower months since your payments are determined by the percentage of your actual credit card sales.

There are no minimum monthly payments required, and no restrictions on how you choose to spend the money – purchase inventory, pay off outstanding debts, or meet other expenses as you see fit.

Short-Term Loans

It takes money to run a business, but sometimes short-term financing needs come up. And when this happens, a short-term loan can be a real life-saver. It can be a flexible tool to help you take care of unexpected costs, manage your cash flow, cover promotional expenses, build up inventory before the busy season, or even jump on an opportunity before it disappears.

Just about every business – regardless of the industry – needs a little extra working capital once in a while. A short-term loan can be exactly what your business needs when these scenarios come about. They provide quick access to funds, with very little paperwork needed. Since the loan is short-term, the debt doesn’t sit on your books for very long and shouldn’t have a negative effect on your credit.

A short-term loan works like a traditional term loan – you receive a certain amount of money in a lump sum and agree to pay it back, in addition to a borrowing fee, over a specified length of time. Short-term loan amounts are usually smaller than traditional loans, and the repayment period is a lot shorter too.

Business Lines of Credit

A line of credit gives you business capital to use to meet all sorts of needs. You can draw from your line of credit to access more working capital, purchase inventory, deal with seasonal cash flows, pay off overdue bills, and so forth. Think of this funding solution as somewhat similar to a credit card: you’re granted a certain amount of financing, but you don’t have to make any payments or accumulate interest until you actually use that money.

Business lines of credit are typically “revolving,” which means you can use the money over and over again, as long as you continue to replenish the amount before you reach the limit. For example, if you’re given a $50,000 line of credit, and you withdraw $25,000, you still have access to the remaining $25,000. When the balance is back down to $0 after you’ve paid back the $25,000, you’ll have access to the whole $50,000 again without having to reapply. You’ll only be charged interest on the $25,000 you withdrew for however long it remains outstanding.

These funding solutions usually come attached with lower interest rates compared to traditional loans. They’re different than a term loan, in which the interest rate remains the same over the term of the loan. In addition, a line of credit usually doesn’t require monthly payments.

The best time to get a business line of credit is before you need it. That ensures it’s available whenever the need arises, so you won’t have to worry about where you’ll get the cash to cover expenses. And if you currently have bad credit, you can improve it by continuously paying back the funds on a timely basis.

Equipment Financing

Just about every business needs some sort of equipment to operate. Whether you need computers, telephones, desks, machinery, cameras, vehicles, or anything else you require to run your business, equipment is necessary. But equipment costs money, often a lot more than what newer businesses have stashed away. In these cases, equipment financing can be an easy, quick way to fund all the equipment you need.

You’re free to use this type of loan to buy just about any kind of business equipment. You don’t need any collateral to take advantage of this type of loan, as the equipment itself is considered collateral in this case. Bad credit won’t hinder you from getting approved for this type of loan either. In fact, this type of loan can actually help you improve your credit rating when you make payments on time and in full.

You might consider leasing your equipment, but with an equipment loan, you actually own the equipment once the loan is repaid. With a lease, you don’t own the equipment once the lease term is over. Equipment funding options give you quick access to the money without having to bury yourself in complicated, lengthy paperwork.

Accessing Small Business Financing

At Credibly, we offer small business owners the cash needed to keep your business running smoothly. Whether you need to be bailed out of a financial pickle, or you want to build upon your success, Credibly has a financing option for you.

Don’t let bad credit, a lack of collateral, or limited business history stand in your way. Fill out our online prequalification request form – submitting is free and easy and will not negatively impact your credit score.