As an entrepreneur, you might think you have exhausted all available options concerning your small business financing, when actually you have not. There is a particular type of loan acquisition that is made available to entrepreneurs like you by 800Fund.com and similar companies. They offer it to small businesses in the form of cash advance or business credit line. This is entirely different from the traditional loans given by banks.
What makes it feasible is that in the traditional loan system, what determines the loan is the availability of collateral or credit history, while in the cash advance/business credit line, what determines the capital advance is just the previous sales history of your small business. The application process and approval are much easier than the traditional financing system.
Most lending institutions like 800Fund just need one or both of your small business bank statements as well as merchant account statements from you for them to grant you a cash advance for your business. It`s just that simple. Forget about collateral or just about any other thing the banks dream up just for them to be able to decline your business loan application. The beauty of getting a cash advance is that you don`t have to wait for ages for your request to be approved. You can get approved for as little time as under 24 hours after application.
The duration of business cash advance is very much different with traditional business loans. Normally, in a typical loan for business, you get a fixed interest rate as well as years to pay back the loan. Nothing kills a start-up faster than high-interest rates you get with conventional loans. However, a business cash advance makes use of hold back percentage, factor rate as well as payment term, which is up to 24 months with 800Fund.com. Simply put, the cash advance companies deduct their interest only when you make a sale, unlike the traditional business loans.
Let`s break it down
Let`s say; you want to get a cash advance of $50,000 for your small business. The terms of the approval will look like this; 1.35-factor rate and a 20% holdback rate every day for 15 months, depending on your choice duration. By holding back 20% of sales each day, you get to pay a total of $67,500 over the period of 15 months. Not bad, isn`t it? That`s basically how it works with the cash advance industry. The deals, amounts and terms differ on a case by case basis. 800fund.com is launching the 1 to 1 program. This program enables the merchant to take a cash advance from $1,000 to $1,000,000.
Lenders in the business credit line/cash advance industry always have returning customers who are very much happy with the whole processes, and you could become one of them today. It is sure one of the few known ways through which entrepreneurs/small business owners get the needed capital to aid their businesses and continue to grow. The cash advance industry is a growing industry and will continue to grow because of the business need-gap is tends to fulfill. 800Fund.com occupies an entire floor in New Yorks financial district, and being the up and coming company; they tend to negotiate more and often provide a better rate for the customer.
Don`t worry about the banks anymore, get the cash advance you need for that business, now!