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Bad Credit Cash Advance: Certain Lenders Focus On Business Capital

bad credit cash advance for businesses

Did you know that there are bad credit cash advance help for businesses? It seems so. Now don’t expect all direct lenders to join in that type of funding. Most lenders deal with small loans for a $1000 or less. Fast cash for a business will fund much higher priced loans. If a business is in the position where they have to turn to a short-term loan lender for help, there is probably a bad credit history.

Bad credit cash advance loans help credit challenged applicants

Commercial financing in less than 24 hours! This is the latest in alternative funding opportunities for business owners who are struggling for extra cash. It has actually been around for almost a decade. Maybe you have heard of a Merchant Cash Advance? A short-term loan dedicated to businesses that have had their needs shut off by local banks and credit unions. With a minimum loan amount of $5000, some of these lenders are helping? How about a loan of $50,000? Certain lenders may even loan more! It may take up to a week to get high loan amounts, but once approved, you know you will get your money. Struggling businesses are now having their financial needs met through select cash advance lenders.  The application process is no harder than a credit card application. The borrowing company does not need to disclose the reason behind the need for the loan.

While similar to personal bad credit loan lenders, these business cash advance companies will have deciding qualifications. While personal loan lenders would look through a bank account statement for approval factors. A business lender will look at monthly credit card sales for qualification.

With loan amounts so high, these business lenders will have flexible payment options. Payments will be based on a percentage of revenue. The lenders will adjust payments according to sales. In other words, if your company goes through slower periods, the monthly payment will be adjusted accordingly.

If you are looking to expand your business but the banks refuse your loan request, you know have a Plan B. Have a big season coming up and need to purchase extra inventory? Have some debts you need to take care of quickly? Business owners could increase their staff once they obtain a business cash advance and work at increasing revenue.

A Merchant Cash Advance is not defined as an actual loan. This differs greatly to other bad credit loans online. These advances are advertised more as available funding in exchange for a percentage of future credit card sales as well as the amount ‘advanced’.

Whatever language a lender wants to use, the principle is the same. Money comes at a price. Whether a business owner or a housewife, using alternative money to help finances will cost the borrower money.  Higher priced interest must be dealt with carefully. Don’t try to pretend that you ‘should’ have enough money to make the payments. When you are dealing with cash advances of any kind it is smart to get educated about the service before you take anyone up on the offer. It doesn’t make sense to make a situation worse just by trying to better it.

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