Are you hunting for a lender who will approve for you a high risk business loan? If so, you might want to think twice! High risk business loans can be hard to get and very expensive – so why not check out our cash advance program instead? Even if it's a secured business loan you're after, you might just be surprised at the advantages a cash advance can offer.
What is a Business Cash Advance?
A business cash advance works totally different to a high risk loan. Instead of filling out lots of paperwork and submitting tax returns, then waiting weeks or months for a decision, a cash advance is much more accessible. Typically we decide whether or not your application will be approved or disapproved within 24 hours of receiving it. If the news is good, you'll get the money that you need paid into your bank account in around 7 days. Borrowing via a business cash advance isn't necessarily more expensive than a high risk business loan and the repayment terms are much more flexible. Instead of paying off a fixed chunk of the finance every month, you're instead paying off a percentage of the money you owe, depending on the sales that your company makes. The percentage stays fixed – so obviously the better your company's sales, the higher the repayments.
An increasingly popular program for businesses considered high risk is the business cash advance. The majority of businesses that do not meet strict lending requirements of other financial institutions are eligible for this type of program. Rather than looking at where the business has been, the focus is on where the business is going. That means that the funds will not be denied for the petty reasons offered by the bank. In addition to this, the interest rates are more favorable than those associated with high risk loans.
For your business to be accepted for one of our cash advances you'll need to meet a few criteria. Your business must be established and much be registered in the United States. You must also accept credit card payments, and the total credit card payments must meet a minimum figure. The chances are that your business will already meet these requirements however, so what are you waiting for? Fill out an application form for a business cash advance today!There's no need for you to spend hours on end filling out a complicated application form for a high risk business loan, because that's probably not the best way for you to borrow the money that you need. We appreciate that businesses can fall on hard times due to the weak economy and low consumer confidence – and we know that businesses sometimes need to borrow in order to pay off outstanding invoices or fund new lines of stock. Don't just accept defeat and assume your hands are tied – because they're not, and don't just assume a high risk business loan is what you need.Whether you've tried and failed to obtain a high risk business loan already, or you're just sounding out your financing options, make sure you get in touch with us today here at Business Merchant Funding (BMF), to see how we can help you.