It allows a merchant to get the funds they need today based on future sales down the road. Basically, a business cash advance lender will supply funds of up to 150% of the merchant’s monthly credit card transactions. If your business processes $10,000 a month in credit card sales, you would be eligible for a cash advance of $15000. The financing of a business cash advance is based on credit card processing transactions, and payment is expected off the future credit card receivables.
Are there any hidden costs?
Unlike traditional bank loans which come with origination, prepayment, application and annual fees, there are no hidden fees or costs associated with a business cash advance. What you see is what you get! A business cash advance lender will give you A and you promise to pay back B. This is why so many small businesses are opting for business cash advance financing over small business loans.
What are the advantages of a business cash advance?
A small business owner can leverage credit card sale receipts to make necessary upgrades, expand, or get the capital the business needs to thrive. For example- a business owner wants to expand to the other side of town and is currently making $100000 in credit card sales per month. A business cash advance could give the owner the funds necessary to expand off the credit card sales. If the same owner approached a bank it would be extremely difficult, the owner would have to prove how long they have been in business, have impeccable credit, and great financials. In the cash advance industry it becomes a win-win situation, the business owner gets the funding it needs to expand and the business cash advance provider gets a chance to finance the expansion. More and more, small business owners are getting funding through business cash advances-why not apply today?
Contact Genesis Capital Enterprises for your Business Cash Advance today!
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