Cash Advances Remove Some of the Stress
You need money for your business because you are in a “situation.” Finding the right funding entity is imperative because you do not want to end up in a worse financial jam than you may already be in. If you have tried to get funding from a bank or other institutions and have been refused, a business funding entity is an alternative source and can help you to stay in business.
There are cash advance programs for businesses that can provide you with funding despite your previous payment history or your credit. When cash is needed within five or 10 days, business funding is a source that you can turn to.
Banks do not lend as feely as they once did because of the poor economy. However, that is not the end of the road for you. Business cash advances can be given to businesses that need money when time is of the essence, which allows the owner to keep his business going.
Knowing that you, as a mid-size business owner, can get a cash advance for your business certainly lessens the stress that you are under and is a way to get cash without borrowing from a bank.
When a business owner is in dire need of working capital it is such a relief when he realizes that he can get it and stay afloat. Additionally, when the borrower knows that the repayment plan is accommodating this helps tremendously.
Cash advances can be electronically transferred to your business account. You are not required to adhere to stringent repayment schedules nor are collateral requirements imposed. Repayment is achieved through a percentage of your future credit card receipts. This means that the lender is repaid on the basis of your sales. If you are having a bad month, your payments are lowered. There are no late payment fees. This allows the business owner to use the money to increase his business sales.
When a business owner is faced with ruthless repayment schedules this creates huge pressure on him when taking out a small business loan. The borrower must hold fast to the terms even though he may not comprehend them and understand precisely what he has gotten himself into.
If his business continues to be slow, he is still obligated to make the loan payments. This creates enormous pressure on someone who is struggling financially to begin with. A conventional loan is apt to result in boundaries on the small business borrower. A secured loan mandates collateral until the loan is repaid in full. When a business owner faces these demands particularly during a time when cash flow isn’t great, which is a serious problem for seasonal business owners in particular, this puts the business person in a huge bind.
An advantage of getting business funding is that your credit history is not the only factor that is taken into consideration when applying for a cash advance. Nearly 80 percent of all the merchants that apply are approved and receive their money within 10 working days.
If you are considering getting business funding you must undergo a prequalification process which isn’t that complicated. When a business accepts Visa or MasterCard credit cards and has an average of al east $2,500 in sales monthly and has had for the past six month, business funding is the answer to your financing needs. The business owner submits his credit card statements from the last four months, which is what is required to meet the underwriting requirements.
This may be the answer to our prayers and to salvaging a business that is struggling during harsh economic times.
For more information on Business Cash, Business Cash Advance, Business Cash Advances, Business Working Capital
Please Visit our website http://ezbusinessfunding.com/
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