Understanding Business Cash Advance
A cash advance is a form of funding that offers businesses quick access to funds by borrowing against the money they will make. That borrowed money is then repaid through a fixed daily percentage. This type of funding may also be easier for some new businesses to obtain than traditional small business loans might be.
Benefits of Cash Advance
A business cash advance allows you to borrow against your small business’s future income and access that capital today. Cash advances are funded much more quickly than other forms of financing, making it a lifesaver for businesses in need of fast access to financing.
When You Should Consider a Cash Advance
There are some situations where a cash advance might be the best funding option, like:
▶ Businesses with low credit scores
▶ Newer businesses with limited credit history
▶ Businesses that need cash quickly
Payout and Repayment Outline
The repayment process for a cash advance differs from that of a normal loan or even a credit card. Instead of making monthly set payments, your lender will withdrawal a “fixed daily percentage” — a preset amount — from your account daily. The daily payments are used to repay the amount of the advance plus the factor rate of the funding. For a cash advance, the lowest you’ll likely find is a factor rate of about 1.2.
LOAN AMOUNT
€5,000-2,000,000
TIME TO FUND
As Soon As 24 Hours
LOAN TERMS
Up to 2 Years
INTEREST RATE
As Low as 18%
