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Business Cash Advance and Business Cash Loans

- Best Alternative to Small Business Loans or Unsecured Business Loans.

Qualifying for a small business loan in today’s economy is difficult, but a business cash advance can be an easy alternative. A typical business loan involves many hurdles for a small business owner, including excessive paperwork, a lengthy approval process, low approval rates, collateral and personal guarantees for security, fixed monthly payments, and restrictions related to use of funds.

By comparison, our business cash advance offers a streamlined process that provides a simple one page application and immediate access to unsecured funding up to $500,000. You will benefit from our vendors offering:

  • High approval rates
  • Minimal credit requirements
  • Flexible repayment process that is directly tied to your business’ sales volume.

All of these features provide you with immediate access to working capital funds that you can use for any business purpose.

Use the business cash advance for any business purpose, including:

  • Purchase Inventory/Seasonal Merchandise
  • Remodel
  • Purchase/Repair Equipment
  • Pay off Debt/Taxes
  • Expansion
  • Emergency Funding

Understanding Business Cash Advances

October 27, 2011 By

Are you looking for a fast way to get more money to help your struggling business? If you’ve been operating for a year and accept credit cards, you might consider getting business cash advances. These are short-term loans that you can essentially use for any purpose.

Unlike traditional business loans that are hard to obtain, business cash advances are a quick way to inject cash into your business. Since they are unsecured business loans, they don’t require any credit check or collateral. They are ideal for businesses with no credit history. The loans are usually based on credit card receipts. In short, the cash advances you get depend on the average number of credit card sales you process in a month.

Applying for a business cash advance is usually a fairly streamlined process requiring a minimum of paperwork. Contrast that against the process of obtaining a standard business loan which involves more complicated paperwork and a long stable credit history. Most new and smaller businesses have some difficulty acquiring these loans due to their volatile or short-lived credit history. A business cash advance avoids having to submit a detailed business plan or tax records. Instead, applicants only need to fill out a basic form and submit credit card receipts.

In contrast to standard business loans, business cash advances often have no fixed repayment schedule. The manner in which you pay back your loan depends on the number of credit card sales. For instance, if a customer uses a credit card to pay you, a portion of that amount is immediately deducted to pay back the loan. This takes away the pressure of paying a fixed amount every month. Also if you have high credit card sales, you’ll be able to pay off your loan in a short time.

“The best part of business cash advances is that the cash is nearly instant. For a business struggling with a sudden emergency, the quick infusion of cash is welcome. Approval usually takes a day or two and the cash is received in about seven to 10 days. In some cases, it can be received in as little as 24 hours,” explains Josie Myers of WiseGeek.com.

Of course, not everything is perfect even with business cash advances. The downside is that you have to pay higher application fees, processing fees and interest rates. The loans themselves are quite small and only amount to a few thousand dollars at most. Still, if you’re looking for instant cash this may be the best way to go.

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Finding Small Business Grants

October 3, 2011 By

Poor financing is the number two reason small businesses fail, falling right behind poor management. Sufficient funding is paramount to the success of small businesses, and small business grants can be the answer to the problem. If business owners have the necessary knowledge about how to find and properly request grants, they have a better shot at creating a successful business that will be open longer and prosper.

There are over 300 different grants and loans available for small businesses that are just starting out. The grants range from 1,000 up to 1,000,000 depending on the size and projected success rate of the business. There are also grants available to help small businesses grow or expand. Grants are not the same as loans because they do not have to be repaid. A grant is considered free money, as well as an investment to promote the success of small businesses and the U.S. economy. Money for grants comes from income taxes. Obtaining a small business grant does not require credit checks or deposits, even if the owners have experienced bankruptcy in the past.

There are a number of helpful websites that send small businesses government grant packages for free, excluding the cost of shipping. These packages include information on how to find grants, how to prepare a grant request, and how to apply for grants pertaining to a specific business. Some of the providers are Government Funding Solutions, Grant Master, and Grant Wizard.

It is important to be familiar with the Small Business Administration’s (SBA) rules for receiving grants before beginning the process of obtaining one. Although the SBA does not provide grants to small businesses, they do provide helpful suggestions and resources on how to find grants.

In order to qualify for a small business grant, individuals must first become familiar with the 13 CFR 143 document that lists all of the requirements to be eligible for a grant. This document includes information on the pre-award and post-award periods and defines all aspects of applying for a grant and states who is eligible. The CFR is the primary source of rules and regulations for small business grants and must be read before starting the grant writing process.

After reviewing the requirements, prospective business owners must write a grant request. There are professionals who will write a grant proposal or the individuals may complete it themselves. The Catalog of Federal Domestic Assistance is a helpful site that links individuals to resources about federal grants for small businesses. Afterschool.gov gives helpful tips on how to write a small business grant and, although it is geared toward grants for after school programs, includes helpful information for grant writing in general.

Additionally, there are many well-established government and private organizations that provide grants to small businesses. The Department of Justice’s Ten Grant document gives access to grant opportunities for those conducting research in support of law enforcement. The Department of Labor’s Employment and Training Administration has several grant opportunities for small business owners. They offer about 5 million to businesses that are based in a community setting with special attention to training programs. The Department of Transportation is another organization that offers small business grants. They offer grants to any business willing to help resolve the growing problems with the federal-aid highway program. The Department of Education has a program called e-GRANTS that locates electronic grants online. They have a detailed list of grants available and the necessary applications to fill out. There are a variety of grants available for different groups, all of which have detailed descriptions and contact information. Other organizations that provide small business grants include the EPA, the National Cancer Institute, NOAA, the National Endowment for the Humanities, and the U.S. Department of Health and Human Services.

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Merchant Cash Advance Explained: Definition, Need and Benefits

September 17, 2011 By

What is Merchant Cash Advance?

Merchant cash advance also known as “credit card factoring” is the financial term which depicts the advance cash/finance funded to any small size to medium size business/company in order to fulfill their requirement at earliest and on time.

Need for Merchant Cash Advance:

The key to success for a successful business is the healthy cash flow. Business owners are heavily dependent on working capital and cash flow and especially keeping current eye opening economy trends in front Merchant Cash Advance is a great tool to back up a running business.

When the financial health of business is experiencing serious issues, the immediate need of advance cash comes into picture and that helps to ensure the continued operation of small size business without any interruption. Merchant cash advance helps to bridge the financial gaps of a business; basically it pre-pays businesses for their needs. Businesses receive needed funds from Merchant cash advance companies on time.

Current trends:

With the increasing need of merchant cash advances in current economy crisis more and more merchant cash providers has introduced in the market to take over small businesses funding operations completely.

Benefits:

Below we will explain key benefits of Merchant Cash Advance that will help you to understand why a Merchant Cash Advance is really a better option for successful execution of on-going business.

Before we start key benefits we need to realize and understand that “Merchant Cash Advance is NOT a LOAN“.

Difference between Merchant Cash Advance and traditional Bank Loan:

Merchant Cash Advance

  • Fast and Less Documentation
  • Borrowed from many Financial Institutions
  • Credit Score hardly matter, is not a deciding factor
  • Provider focuses on future and on-going transactions
  • Less Interest

Traditional Bank Loan

  • Slow and more formalities and documentation
  • Borrowed from banks
  • Credit Score matters a lot, key deciding factor for eligibility
  • Banks look for past financial and current situation
  • Large rate of interest

Key Benefits:

Payments based on Revenues: Cash borrowed from Merchant cash companies will be paid on the basis of the actual credit card sales. This is really beneficial for the borrowers running seasonal businesses, they need to pay less in the down time and they can pay more in the up time. Payments are directly proportional to the real time sales happening out from business. Dynamic payments help to survive safely in critical economy trends.

Qualifying criteria for funding amount: Eligibility for funding amount is calculated on the basis of your track record for successful sales on the board. This calculation helps the borrower to take best decision for the amount he is qualified for, and you lead to a situation where you will borrow more than you can actual repay.

Fast: Due to less documentation and formalities the processing time is low and you can expect the merchant cash advance within max. 72 hours.

Credit history is not a deciding factor: Poor credit history or little credit history does not qualify for traditional loans and the borrower need to have a good credit score. In Merchant Cash Advance the factoring company will consider maximum past 60-days history of credit card sales.

Less Risk: In traditional loan the lender can take legal action against you if you are not able to pay. The can take legal possession of the secured items against the sanctioned loan amount. However, in merchant cash advance you do not have any risk as the payments are highly variable based on the revenues. The company advances you money takes the risk.

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Finding a Restaurant Loan For Restaurant Renovation

September 13, 2011 By

Finding a restaurant loan generally refers to business owners researching and comparing various restaurant loans available to find the ones that best suit the business’s needs and capabilities. Business owners typically need a restaurant loan when they are purchasing a new restaurant or franchise or are expanding their business to other locations. Many traditional and non-traditional lenders provide general-purpose business loans that can be used for any business activity, but there are some lenders who specialize in restaurant loans.

Commercial banks do not accept most start-up businesses because they present a high-risk of non-payment to the banks. When a business has been denied by traditional lenders, such as banks, it can turn to the Small Business Administration (SBA) to find a restaurant loan. They offer a variety of loans to businesses that employ fewer than one hundred employees. The most common is the 7(a) loan, which can be used for any business purpose unless specified otherwise. To apply, businesses must supply personal and business financial documents and a business plan. The loan amounts, interest rates, and repayment terms vary by type of loan and by the applicant’s financial stability.

Business owners can also find restaurant loans from non-traditional lenders, such as independent finance companies. When purchasing a franchise, the buyer may even obtain financing from the franchiser. These lenders generally accept start-up and high-risk businesses with poor credit histories. Because they are willing to lend to high-risk borrowers, their interest rates are typically higher than the rates of traditional loans. Like with any funding, the loan terms and agreement vary by the applicant’s financial history and the type of loan.

Find restaurant renovation loans generally refers to restaurateurs looking for ways to redecorate or remodel their business in order to improve business by making it more visually appealing or to save space. When looking for restaurant renovation, owners should start their search locally, as many other small business specialize in renovation.

Depending on the needs of the business and the preferences of the owner, he or she may want to find restaurant renovation that will design according to a certain theme based on what the restaurant serves. A seafood restaurant may want to go for a nautical theme to add to the authenticity and comfort of the business.

When looking for restaurant renovation, it’s also important to decide how the space available will be used. Business may want space reserved for a dance floor, game room, coat room, bar, or others. When deciding how to use space, it’s best to consider the clientele of the business. For example, if the restaurant were a family-oriented pizza buffet, a game room, instead of a dance floor or a bar, would be appropriate.

Most restaurant renovation companies charge a set fee per every square yard renovated. This fee may or may not include other charges, such as installation of certain design elements. Several renovators have online websites to allow potential customers to view their work. To find the best restaurant renovation prices, it’s best to research and compare all available local companies based on the needs and capabilities of the restaurant.

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Business Cash Advance – Three Simple Steps to Business Financing

September 11, 2011 By

Are you missing out on business opportunities due to shortage of funding? Is the long wait for loan approval hurting your business? Are you being asked to produce hordes of unnecessary financial documents? Are you frustrated by all the inconvenient questions surrounding your business loan proposal? Are you looking for a quick and painless way to procure resources for your business and get ahead of the competition? If yes, then a business cash advance, also called a merchant cash advance is the perfect solution to your problems.

Business cash advance is a funding option that is changing the world of business. While a traditional loan application can take weeks or months to process, business cash advance providers release funds within a week, sometimes in less than three days. The application form is available on the company’s website. The form is quite simple and takes little time to complete. Further, you only need to submit a minimum set of documents to get your application accepted.

The cycle of business cash advance application is described below:

1. Establishing an account with an approved credit card processor

Business cash advance is not a loan, rather an advance purchase of your business’ future credit card receipts. Thus, to receive a business cash advance funding, you set up an account with a major credit card processors. Open an account with the permitted credit card processing service and process credit cards payments for at least six months before submitting your application.

2. Submitting an application for an advance

Business cash advance providers ask for your credit card processing statements with the application. Your application is qualified based on two criteria – number of months in business and average monthly credit card sales volume. Typically, you should be in business for a minimum of 6 to 9 months with average monthly credit card receipts amounting to 00 or more to be accepted for a business cash advance.

3. Signing the contract for business cash advance

If you are approved for the business cash advance, a contract will be drawn out. This will specify four critical pieces of data.

* Amount of credit card receipts purchased: This is the amount of the credit card receipts that you sell to the provider for receiving the cash advance. It also gives you the actual cost of the advance.

* Cash advance amount: This specifies the actual amount of money the provider will advance to you.

* Percentage of daily credit card sales: This specifies the percentage of credit card receipts that will be paid out to the provider each day. This percentage should be fixed at the start and not change through the payment period. Scrutinize the fine print thoroughly for imprecise clauses that can be used by unprincipled providers to change this percentage at a later stage.

* Penalty terms: The terms are specified to apprise you of probable actions in case of contingencies.

Scrutinize the contract very carefully. Clarify all concerns and understand every term and condition specified in the contract. Remember that business cash advance is not a loan. Your contract is the only legal protection against deceitful providers. Once you sign on the dotted line, the advance will be released to your account within a week or less.

A business cash advance allows you to receive funds quickly and easily without drawn out waiting periods. Make the most out of your business cash advance funding by familiarizing yourself with the approval cycle.

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Restaurant Financing for New Business Owners

August 30, 2011 By

Are you still searching for restaurant financing? Do you realize that one of the greatest forms of financing your restaurant is something that is already available to you? Yes, it’s true, and all right under your nose, maestro! This kind of restaurant financing is something that you take advantage of day in, day out, and you don’t realize it because it’s always been there – yet if you were to lose it, it would affect your bottom line greatly and you would sorely miss it!

In this article, we will “think outside the bank” (and loan sharks!) and briefly discuss the restaurant financing you already have, with an eye on maximizing its effectiveness for you. That’s because chances are you aren’t taking full advantage of the situation because you don’t realize you already have it and so aren’t being as efficient at using it as you could be. But before we dive right in, let’s pause for a moment to consider that legal ramifications of what follows – in other words, here’s a word from our legal disclaimers department:

What follows is comprised of mere opinion and should never be misconstrued by anyone as professional advice of any kind whatsoever. Neither author nor publisher shall be held liable in any manner for any of the information contained in this article, where everything is only being presented for purposes of “human interest.” Readers are strongly advised to consult all the properly licensed and qualified professionals relevant to any business decisions of financial consequence that may be made!

Okay, back to the program!

You don’t need to simply borrow from the bank when looking for restaurant financing. Instead, why not have your suppliers finance you? In fact, they already do! Insofar as they extend you lines of credit, typically until the end of the month (though more generous arrangements are not unheard-of), your suppliers are in effect, even if not in intent, financing your operations!

This is one of the best kinds of restaurant financing you will ever find. But since you already have it, and are still looking for sources of funding, let’s consider whether you are adequately maximizing the opportunities already on offer. Do you know how to determine working capital for purposes of restaurant financing? The simplest formula is to multiply your assets by a hundred for an answer in percentage form and then divide everything by the amount of your accounts payable.

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Business Benefits of Merchant Cash Advances

August 29, 2011 By

Merchant Funding can be provided with a Merchant Cash Advance to businesses. It is an alternative way instead of going through a traditional bank loan. You will be able to get advance cash today based on your future credit card sales. There are no personal guarantees or collateral attached to this cash. Merchant Funding provides you with the working capital within 3 business days or less. There are no restrictions on how to use the money for your business. It allows you to grow your business as much as you want. Merchant Funding is fast, no cost and gives your business a flexible payment term.

It is a lump sum payment to a business and is based off a percentage of future credit card or debit card sales. The business which is dealing with the company, gives authority to take a percentage of its daily credit card income directly from the processor, who clears the credit card payments. Once the obligation has been completed, usually in a year or less, the automatic deductions stop.

Merchant Cash Advance is mostly used by retail businesses that cannot get loans from regular banks. It can be expensive if compared to a bank’s interest. It has many advantages over the structure of a conventional loan. It has the ease, simplicity and speed of the application process and also lower security position associated with merchant cash advances.

Merchant Cash Advances are not loans; it is a sale from a portion of the future credit and debit card sales. A cash advance loan can help out anyone who has found themselves in a tight financial spot. These short-term loans are available to anyone who meets a few simple requirements, and then will offer easy cash in a quick manner. There are benefits to getting a loan from a merchant.

A Merchant Cash Advance loan can help out anyone who has found themselves in a tight financial spot. These short-term loans are available to everyone who meets a few simple requirements, and it offer easy cash in a quick manner.

The small business merchant can have cost effective merchant accounts which is supported by Merchant Financing. The Merchant Financing will give personalized services, easy access to working capital and some other financial assistance. Small Business Merchant Account Services offers Online Payment Processing for web-based businesses including, PC Processing for phone and mail order businesses, Terminal Processing for retail, restaurant, hospitality and other person-to-person businesses , EFT payment processing for Electronic Funds Transfer, Real time check payment processing, virtual terminal and real-time credit card processing.

If the business is selling products online, merchant account is essential. It is necessary to use credit cards than cash. The Merchant Financing is an advantage to small businesses which are in great need for finance.

Find More Merchant Cash Advance Articles

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Choosing a Merchant Cash Advance Lender

August 20, 2011 By

Marcel opened his dream candy retail store somewhat over a year back. His store would be the just one of its type within miles, and every person goes to his shop once they have to satisfy a sweet tooth. Considering that enterprise is prospering, and Marcel has had a while to develop as a seasoned small business proprietor, he is now prepared to take on a new problem; opening a whole new spot in a different town. All he wants now is actually a minor extra funds to finance his latest enterprise venture.

Marcel determined that applying for a merchant cash advance may be by far the most worthwhile route for him and his business. However, conducting an internet search for “merchant cash advances,” he was astonished through the abundance of merchant money advance loan companies, and struggled in his decision of which corporation to trust.

As a company owner, you can likely relate to this tale. Deciding upon a business cash advance loan provider is usually a tough process. So that you can remove the confusion of this course of action, there are several factors that you must take into consideration when choosing the merchant cash advance financial institution which is best:

  • Needless Costs

Some loan companies try to add a slew of supplemental charges on approval of a merchant money advance.  As with all loan transactions, closing prices are essential, but shouldn’t be exorbitant.  The prices past the cost of your initial cash advance are usually compensated in the closing of your respective transaction. Just before deciding on a merchant cash advance loan company, make sure that there are no surprise closing expenses on the cost for your cash advance.

  • Month-to-Month Credit Card Revenue

The quantity of credit card gross sales that your organization processes each month can be on the list of aspects that determine which financial institution will grant you a merchant cash advance loan. Before approving a financial loan, most lenders will necessitate you to submit a certain level of your business’ most new, consecutive credit card statements. This is to help the lending institution determine your businesses ability to repay the cash advance.  Normally, you will have to supply a few to six months of credit card statements, offering lenders a good overview of your average gross monthly credit card receipts.

If your business is seasonal try to pick a loan company using a decrease minimum month-to-month requirement, or a loan provider that needs submission of not less than twelve months of product sales documentation.

  • How Long Have You Been In Business?

Some business cash advance loan providers require an individual has owned a particular enterprise for at least 12 months before being eligible to receive a merchant funds advance.  Some providers only require that small businesses have been operating for at least 60 days. Obviously, the longer you have been in business and the higher your gross credit card sales the more business cash loan options available.

  • How Fast Do You Need The money?

With any financial institution, the first application to get a merchant cash advance isn’t an extremely lengthy procedure. And soon after receiving the required documentation, most loan companies can approve your income advance in a few days – sometimes in 24 hours or less.

Some lenders demand only an application and documentation of regular credit card sales. Other loan companies might require lender statements, lease agreements, picture IDs, voided checks, and so forth. Should you be in a hurry, try selecting a company that needs the least documentation, this may perhaps make for a speedier process. Ensuring you have all of your paperwork ready to go, could also expedite the process.

  • How Much Money Do You Want?

Most lending organizations can fund up to $500,000 in a merchant cash advance. For those who have a number of destinations, there’s also lenders that could fund you a particular level of income at each business location or franchise. Nevertheless the level of cash you get definitely is dependent upon the amount of credit card gross sales that your business processes each month. Typically, you will be able to secure 20 to 30% of your gross monthly card sales as a business cash advance.

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