How a Business Cash Advance Works

2015-02-11

Jeffrey Bumbales

Your Business Needs Working Capital to Grow!

Small businesses need extra cash for all sorts of reasons. Maybe you’re expanding, and need extra cash for additional equipment and inventory. Perhaps you’re increasing your personnel, or need to bridge the gap between the work you’ve done for clients and the receipt of credit card payments. Whatever the case may be, money is at the crux of it all.

Unfortunately, many banks expect you to have stellar credit, mounting assets, minimal debt, and a lengthy business history in order for them to stamp “Approved” on your application. At Credibly.com, we focus solely on your business and its present and future sales. If you’ve got a steady clientele, we can get you the money you need!

What is a Business Cash Advance?

A merchant cash advance might be your best option when you need cash fast for your business. It’s is a quick and easy way to get the money your company needs without having to offer up collateral, even with bad credit.

How Does a Business Cash Advance Work?

With this type of lending option, you can get the funding you need with minimal paperwork required. Your application will typically be reviewed and approved within only a day or two!

To keep your end of the bargain, you agree to repay the business cash advance, plus a specified fee, by allowing the fund provider to garnish a small portion of your credit card sales until the total amount owed is repaid in full.

The fees that you pay to receive this business funding solution can range, depending on how much you are borrowing. These fees are measured as a factor rate, which is then multiplied by the advance amount you receive. The rate remains constant throughout your repayment phase, which means you’d pay a lower amount during slower months. Basically, the higher the fixed percentage rate of your credit card sales, the quicker you can pay off your financing.

Do You Qualify For a Business Cash Advance?

Have you attempted to get financing from a bank, only to get turned down? A business cash advance from Credibly.com could be an option for you. Even if you’ve got bad credit, little or no collateral, and a short business history, you can still qualify for financing from Credibly.com.

If a good chunk of your revenue comes from credit card payments (highly common with retail stores and restaurants), you can access a business cash advance as a short-term financing solution to help you manage your cash flow, cover unexpected expenses, pay off debts, and so much more.

How to Apply For a Cash Advance

Fill out a quick pre-qualification form that can be completed in as little as a few minutes. Review your funding options, and choose the one that best suits your needs. Once we’ve reviewed your application, you’ll typically be approved within 48 hours, with your requested funds deposited directly into your account!

Apply for a business cash advance from Credibly.com today!

Photo Credit: Aaron Patterson via Flickr cc