September 13, 2016 | Categories: Blog Back to list

Advantages of Business Cash Advances

Advantages of Business Cash Advances

Your business relies on a healthy cash flow for its everyday success. When the funds run low, you risk being able to satisfy important obligations like paying your staff, ordering inventory, buying computers and furniture for your office, and paying your utility bills. Rather than face delinquency or risk being pursued by creditors, you instead can bulk up your cash flow with a business cash advance program. You can make this choice with confidence by realizing the big gains of business cash advancements.

High Approval Rates

You may have held off applying for a bank loan because you were afraid of being denied. When you apply for a cash advancement, however, you face better approval chances.

Many people who apply for this type of financing are approved for the money they need. The lender does not consider criteria used by banks to determine your ability to pay back the loan. This different lending criteria could allow you to get money that you need today for your cash flow.

Fixed Percentage

Banks are infamous for their flexible interest rates. You may be charged a higher rate than someone else who is financed by the same bank. This variable rate interest means that you never know for sure how much you have to pay back until your loan is approved and the money is given to you. You could face paying back more money in interest than if you were to seek financing elsewhere.

A cash advancement comes with a fixed percentage rate. You know how much you are paying in interest and how much your overall advancement will be when it is all paid back in full. This fixed rate also levels the field for others who are financed by the same cash advancement company. No one is given preferential treatment over you.

Easy Repayment

Banks are stringent in how they expect you to repay the loan. You have little wiggle room when it comes to making payments. If you stray from the expected repayment path, the bank could call your loan and expect you to pay back the full amount or risk more aggressive collection methods.

A cash advancement comes with easier repayment options. You have more options when it comes to making payments, which helps you work your financing around your everyday business operations. It also takes stress off you while you put the money to good use at your company.

Quick Financing

Your cash flow does not know a calendar. You need money now rather than later. Banks take days or even a week or longer to approve you. In the meantime, you risk defaulting on important financial obligations.

Cash advancements are faster and easier to obtain. You get money that you need within a matter of days if not sooner. This hastened process takes worry off your mind and lets you continue to run your business without putting off bills that could threaten your bottom line if they are paid late or let go entirely.

Most business owners need financing at some point during their careers. Rather than pursue traditional financing at a bank, you may fare better with a cash advancement. This type of loan typically comes with easier terms and could work better with your daily business operations. It also comes with advantages that many people find more agreeable. Find a trusted company that offers business cash advances so that your business can have the cash flow it needs to succeed.

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