Our Money is better than the Banks!
A typical business loan would require a written loan proposal and is time consuming and very restrictive. You will have to follow a strict monthly schedule of repayment irrespective of your monthly business revenue flow. They are very difficult to obtain when you need it the most. You mainly get approved when you are in an affluent state. Bankers focus on past credit history to determine the loan repayment program and assurance of the set monthly repayment is their prime concern while approving a loan. There are collateral requirements in most cases and property/collateral will be taken over if the loan defaults. There is also a personal guarantee needed and merchant's personal credit will be damaged upon late or non payments.
Our Business Cash Advances are repaid from future earnings, to be more specific; it is repaid from the future sales transactions processed through Visa and Master Card. A monthly percentage of these future sales are used as the determining factor for repayment. There is no repayment schedule. Repayment occurs automatically and follows your business revenue flow. There is now collateral required. The whole process takes about 7 days!
The business is free to use the fund received in cash advance for whatever purpose they see fit, however, in comparison to a loan, the lender often dictates the purpose for which the company can use the fund. Business cash advances are in no way similar to an unsecured small business loan.
