subject: Faqs Helping Deeper Understanding Of Business Loan Alternative With Business Cash Advances [print this page] Are you fed up while waiting in queue to receive approval for your business loans? The tiring, lengthy and heavy paperwork process leaves you washed up. Here is an option that will help you to avail business cash advances up to $250000. Here are certain FAQs, which will help in better understanding of the whole process and advantages of the business cash advances.
What is a business cash advance?
Business cash advance is based on the underlying concept of future credit sales of the merchant. As the transaction is generated a small fixed amount is reverted back to the cash advance provider, thereby helping merchants for easy working capital requirements.
How does a business qualify for business cash advances?
Three requirements help in qualifying for business cash advances. They are:
(1)The business should be operational within the US
(2)The Visa/ MasterCard sale of the merchant should be $5000 and above on monthly basis
(3)The business must accept credit and debit card as mode of payment.
How can the business use the money?
The fund can be utilized as per the discretion of the merchant. No stipulation is bounded as to where and how to append the money as in other business loans.
What is the approval rate?
The approval rate is as high as 95% for the business cash advances.
How much and how the repayment will be made?
There is no fixed repayment amount and schedule for the business cash advances. The amount is reverted back through small and fixed potions of your future sales.
What is the time for receiving the funds?
The fund is received within 72 hours to 7 days of application.
What is the application fess and start up cost?
No application, startup or closing fees is taken from the merchants.
I have poor credit score, am I eligible for receiving the cash advances?
The poor credit score is accepted.
How much amount of cash advance can I receive?
An amount up to $250000 can be received from the business cash advances depending needs of the merchants.
Are there any hidden cost?
As in case of other business certain amount is deducted as hidden charges, without the confirmation of the borrower. In case of the business cash advances, no such deductions are made
What sort of business can be financed?
1)Restaurant Financing and Loans
2)Retail Store Business Financing
3)Hotel and Motel Business Financing
4)Internet Business Financing
5)Franchise Business Financing
6)Furniture Business Financing
7)Gas Station Business Financing
8)Home Improvement Business Financing
9)Real Estate Business Financing
10)Optical Store Business Financing
11)Pet Store and Kennel Business Financing
12)Beauty Salons and Spas Financing
13)Cellular Store Financing
14)Dentistry Business Financing
15)Dry Cleaning Business Financing
16)Seasonal Business Financing
17)Shoe Store Business Financing
18)Taxi and Limousine Business Financing
19)Wine, Liquor or Party Store Business Financing
20)Automotive Business Financing
21)Bar and Nightclub Financing
22)Floral Shop Business Financing
Thus the business cash advances help in availing a better business loan alternative and helping in the overall growth of the business.
