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With a business cash advance, you can leverage tomorrow’s potential today. Get the capital you need to reinvest, grow, and take your business to new heights.
TIME TO FUND
A business 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.
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 withdraw 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.
Functionally, a merchant cash advance is similar to business cash advances, except the small business borrower receives an advance on future credit card sales. A business cash advance is repaid as an automated, fixed daily or weekly withdrawal based on cash flow.
The lenders we work with primarily offer business cash advances with a few offering the option of a credit card split similar to an MCA. This method permits the financier to take their agreed-upon percentage directly out of a business’s credit card revenue each day.
There are some situations where a cash advance might be the RIGHT funding option, like:
If your business doesn’t match some of the qualifiers below, it may be more challenging to receive funding from our lending partners.
TIME IN BUSINESS
Sure, you can go the bank route with a long application process and 75% rejection rate. But if you’re looking for financing in this lifetime, Lendio offers a faster, easier application process.
It’s secured with bank-grade encryption and SSL technology, so you know your information is safe.
We pair you with loan options from our network of 75+ lenders. Our dedicated funding managers can help you weigh the pros and cons of each option.
Once you’re approved, you’ll be able to access your capital in as little as 24 hours.
funded through us
lenders in our network
Sterling HannemannCo-Owner of Seven Brothers
Chloria ChandlerOwner of Bobbee O’s BBQ
A business cash advance is an option for startup businesses that may not yet qualify for other types of business financing. Because a business cash advance is repaid based on your business’s income, time in business and other factors that can make securing financing difficult for startups don’t apply. If your startup has a strong income, a business cash advance could be an excellent solution for your fast-capital needs.
Startup loans and business credit cards can also offer accessible financing for startups and may be able to round out your financing plans
The benefits of a cash advance are what make it such a convenient form of funding. Because eligibility is based on the ability to repay the advance, usually the requirements for this type of funding aren’t too strict, making it ideal funding for businesses that are new, have bad credit, or lack collateral. Plus, you can get funding quickly with a cash advance. And, if you have low sales, your payments will stay low too.
The disadvantages of a cash advance though can sometimes outweigh the pros. It can end up costing you quite a bit depending on the factor rate of the cash advance. Plus, there’s no benefit to repaying early like there might be on other funding options.
A cash advance can be used for a variety of business expenses. These may include purchasing inventory, covering emergency costs, investing in marketing efforts, managing seasonal sales fluctuations, renovating business premises, or even expanding the business. Essentially, a cash advance provides a flexible solution for any short-term capital needs, offering businesses the ability to handle unexpected costs or take advantage of lucrative opportunities quickly and effectively.
A loan and a cash advance are two different types of financial aid used by businesses, and they come with distinct differences. A loan is a type of debt where a lender, often a bank, provides a lump sum of money upfront, and the borrower repays the amount over a set period of time with interest. The repayment schedule is usually monthly and the interest rate is typically fixed.
On the other hand, a cash advance is a short-term funding option where the lender provides a lump sum of money that the borrower repays through a fixed percentage of their future sales. Also, instead of an interest rate, cash advances use a factor rate to calculate the total repayment amount. This makes cash advances a flexible, but often more expensive, option than traditional business loans.
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