Business Cash Advances
Your business could really benefit from business cash advances. They are a specific type of loan that is made against your business credit receivables. This means that as long as your business is operating with valid credit and receives frequent credit card payments from your customers that you can inject fresh funds into your profit stream. This is often seen as the best way to keep your business fiscally stable as you expand. This article will cover some of the finer points of business cash advances.
Business cash advances are a loan, that means that they money that is borrowed in the form of the advance will be paid back. The good thing about this type of loan is that the funds for repayment come directly from your credit card sales. This will make for automatic repayment and the end of having to keep track of when and how you can budget to pay back a loan. Keeping track of your credit card receipts is all that is required of you.
The advantages business cash advance enjoys over other kinds of loans is that they do not require tax returns or other financial information. Your credit history will not be considered when you apply for a business cash advance. Funds can be deposited into your account quickly, in many cases within 24 hours. This can allow you’re to quickly liquidate the advance for your immediate business needs, which can make the difference in an emergency.
Although business cash advances are easy to get there are some basic requirements you must meet. Your business must be in operation for over six months. Another key detail is that your business must also take major credits such as Visa and MasterCard. The last requirement for business cash advances is that you must have $5,000 or more in credit card receipts with the accompanying statements for verification. If your business meets these requirements then you are well on you way to being approved for business cash advances.
The process of how business cash advances work is quite simple. A charge is made on a credit card at your business. After the credit card company extracts their service fees a nominal percentage (20%) is applied toward the advance. All money remaining after this transaction will be deposited directly into your account. This eliminates the need for time-consuming paperwork and past due charges. Business cash advances are the perfect solution for businesses that have immediate and long-term monetary needs.
Business cash advances were designed as an alternative to the traditional business loan. They are flexible because they do not require the paper work that other conventional loans require. They are accessible because any business that meets the minimum requirements can be eligible. Business cash advances are convenient because they allow for the loan to be repaid automatically from your existing sales transactions. These are the reasons why business cash advances are an excellent way to fund your business.
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Elle Wood shares with you some of the finer persons, organizations and businesses that exhibit exemplary customer service and added value. For more information on business cash advances please navigate to www.7dayfunds.com.
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