Getting a business loan can be very difficult for any business with a poor credit history record, especially if the business is new. Most new business owners ultimately discover that the initial funds they acquired were only adequate for establishing and setting up the business. Additionally, new companies may also be burdened by debts due to initial loan payments not being made on time. Other factors, such as bad personal credit, may also cause banks to reject loan requests.
At this stage, additional funding is required to cover costs incurred for business growth and maintenance. But what would you do if your business has a low credit score and your odds with a bank or other financial loan providers are low?
Business Cash Advance and Its Advantages
Express Funding provides a great alternative for bank loans, such as a business cash advance. The advantages that a business cash advance has over bank loans are the following:
- Business cash advance loan providers do not evaluate bad credit. Loan reimbursement is done via a predetermined percentage cut from future monthly credit card receivables of the borrower’s business.
- There isNO credit or collateral required.
- Compared to traditional loan providers, business cash advance programs require minimal paperwork and hence, a minimal amount of time to process the loan amount. We can provide you with your much needed funding in only 3 days following your loan request application.
- At Express Funding, there is a higher approval rate for you, as we only evaluate a business’s previous year’s average monthly revenue for granting a cash advance loan.
- Payback will vary according to your sales volume and cash flow. The greater your cash flow, the higher the payback amounts we receive. We will cut back our share accordingly if your cash flow is low. This process will allow us to help support the growth and success of your business, and not exhaust it.
Apply online or call us now for friendly, helpful assistance. A business cash advance from Express Funding may prove to be the ideal solution for your needs.