Business Cash Advance Options
The business cash advance industry, which was born about a decade ago, is all about innovation and convenience for merchants.
As merchants needs have grown and developed, cash advance products have also changed and developed in order to continue to meet merchants' needs.
The basis of the business cash advance remains the same; a small business owner sells his/her future credit card sales and receives a cash sum upfront.
The advance is then automatically repaid through a deduction of a small percentage of the business's daily credit card sales.
However, there are various business advance programs that merchants can choose from, allowing them to customize their experiences.
Standard Advance Most small business owners utilize the standard advance.
Qualified merchants own a business that processes at least $3,500 in monthly credit card sales and have owned that business for at least six months.
They have no unresolved bankruptcies and at least one year remaining on the business lease.
Starter Advance The starter advance is specifically designed for merchants who have previously been declined for a standard advance.
Through this program, merchants are funded a small amount (as little as $2,000), which is often repaid in about six weeks.
Following repayment, the merchant qualifies for an automatic renewal of a higher amount.
Starter advances can be funded without credit checks.
Premium Advance The premium advance caters to small business owners with great credit scores, and high and steady, monthly credit card processing.
Merchants who qualify for premium advances can receive the lowest industry rates and can choose loan terms of up to 12 months.
Small business owners can get a free business cash advance quote and determine which program best suits them when they choose one of the leading business cash advance providers.
As merchants needs have grown and developed, cash advance products have also changed and developed in order to continue to meet merchants' needs.
The basis of the business cash advance remains the same; a small business owner sells his/her future credit card sales and receives a cash sum upfront.
The advance is then automatically repaid through a deduction of a small percentage of the business's daily credit card sales.
However, there are various business advance programs that merchants can choose from, allowing them to customize their experiences.
Standard Advance Most small business owners utilize the standard advance.
Qualified merchants own a business that processes at least $3,500 in monthly credit card sales and have owned that business for at least six months.
They have no unresolved bankruptcies and at least one year remaining on the business lease.
Starter Advance The starter advance is specifically designed for merchants who have previously been declined for a standard advance.
Through this program, merchants are funded a small amount (as little as $2,000), which is often repaid in about six weeks.
Following repayment, the merchant qualifies for an automatic renewal of a higher amount.
Starter advances can be funded without credit checks.
Premium Advance The premium advance caters to small business owners with great credit scores, and high and steady, monthly credit card processing.
Merchants who qualify for premium advances can receive the lowest industry rates and can choose loan terms of up to 12 months.
Small business owners can get a free business cash advance quote and determine which program best suits them when they choose one of the leading business cash advance providers.
Source...