What are Business Cash Advances?
Business cash advances are based on merchants' future credit card transactions and are a hassle free loan alternative which provides unsecured working capital for small businesses up to $250,000. Our business cash advance program is a convenient, fast and easy way to get the money you need for your business exactly when your company needs cash most. Based on future credit card sales, we provide your business with the cash in advance and without the formalities and strict requirements of most traditional small business loans or other lending institutions. Good credit, security collateral and a long business history are the common requirements of conventional small business loans, which is not available to all business owners. The business advance is a perfect alternative for people with bad credit.
A merchant advance allows you to leverage the greatest untapped asset you have... your future sales!
The concept is simple. We will pay you for your future credit card transactions up front. As transactions roll in we get paid back with a small fixed % of those daily credit card receipts.
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Merchant Cash Advance Requirements:
Must be registered in the United States.
Must accept Visa or MasterCard as a method of payment.
Your credit and debit card sales are a minimum of $2,500 every month.
Business Cash Advance vs Traditional Small Business Loans
1. Conventional loan options usually require above average credit, a substantial down payment, and might come with strictly defined terms of use. With our business advance there are no up-front or hidden fees, no specified terms of use, or outstanding credit requirements. While small business loans require collateral and personal guarantee, new and businesses with bad credit can still qualify for an unsecured cash advance or business advance.
2. Even if the applicant has good personal credit and has been operating for over a year, banks and other lenders may consider your industry to be extremely high-risk. Many lenders will not provide funding at all, while those that do tend to be very selective.
3. Because business is fast-paced and constantly changing, owners often seek capital to renovate, advertise and expand. Traditional funding takes too long to qualify for and may not be approved in time. We can have you approved for a credit card business advance in as little as 24 hours.
4. Unlike a small business loan that requires a fixed payment, our unsecured cash advance is based on credit card sales volume... so durring a slow time it allows you to pay less. This program is designed to accommodate owners with the natural patterns of business ups and downs. So we only get paid when you do.
5. Even if you have applied and been rejected for small business loans, you may still be able to qualify for a merchant cash advance. We have helped hundreds of merchants who were turned down by banks and other lenders.
6. A business owner must be able to handle emergencies or be able to act on an opportunity quickly. Most people can't afford to wait around for banks which require large amounts of paperwork, financials, tax returns and overall time. Traditional funding could take months to secure while our merchant advance will provide you with up to $250,000 of working capital in as little as 72 hours, and we can have the money placed in your bank account in less than a week.
What can a merchant cash advance be used for?
Merchants are free to use cash advances for anything they desire. Unlike other financing options available to through banks and private lenders, we do not require a plan for the funding and we don't require that it be used for any specific purposes. The money can be used for expansion, renovations, payroll, equipment, general cash flow, or anything that you decide.
When your company needs cash, we are glad to help!
We are dedicated to provide the best solution when a traditional small business loan is unavailable to obtain. In today's tough economic climate, small business owners have the most difficult time trying to get the money they need to sustain or bring in new revenue. We understand the challenges you have to face while trying to maintain a healthy cash flow and we will do whatever we can to help you get through any hard times or simply support you in growing your company. The success of your business is important to us.
“Responsive, quick, and reliable. Rapid Capital Funding helped me open 3 new stores.”
