Business Cash Advance: The Easiest Way To Gather Working Capital
You have always had a dream, the dream to be your own boss. You have always dreamt of having your own very own business. Running a business is no wonder like a dream come true. But it is not only about running the business, it is about how you run it. Once you have put in so much of hard work in setting up a business venture, you expect it to run the way you want. What is needed is the smooth flow of working capital. Do you know the most effective ways of accumulating funds for your business?
You have two options at your disposal:
€ The unsecured business cash advance
€ The secured traditional business loan
You must be wondering why would you even need a financial assistance. In business no matter how much efficient you are in handling your finances, in cash management- situations are bound to arise when you will need immediate funds for the functioning of business. This is all the more true for small business owners. Like you might need working capital for expanding your business, to diversify your business, to open more branches, or simply for tackling the recurring expenditures, or for buying new office equipments, it can be just anything. What an effective management does is to reduce the probability and occurrence of such situations.
Now let’s go back to the above mentioned options. When compared and contrasted with a traditional business loan, business cash advance features as the better and easier choice. Quite naturally it has become the most preferred and popular financing method for small business.
Let us explore what a business cash advance in reality is.
What is a business cash advance? Here cash advance providers buys a pre-determined number of credit card receipts at a discounted rate from the concerned business owners and will provide them with cash advance facility against those receipts.
How much financial assistance you can get this way? Through business cash advance you can arrange for upto $250, 000. The amount however depends on your business credit card volume.
How do you pay back? What is the most attractive feature of a business cash advance is that you need not pay back personally. Again to add to the list of advantage, the paying back does not have any fixed schedule. You pay back when you earn the desired revenue.
What is the exact procedure? All you need to do is to file a very simple application. Just fill up a form and you will get the required working capital within seven days. The rate of approval is pretty high, almost 95% and the process is so fast that your cash advance requisite gets approved within 72 hours.
The certain little pre-requisites in case you are to apply for a business cash advance:
€ The business should be at least a year old.
€ There should be a minimum of $5, 000 business every month.
€ The business should be using Visa or Master card as one of their mode of payment