subject: What Is A Business Advance? [print this page] Have you ever needed money to help support your business but have been denied in the past? What if we told you that continuing your own business with a business advance loan was as easy as paying back your loan with future credit card transactions on your business sales, purchases, or payments. What if I told you there is a place that will say yes when others have said no? Would you believe me? What if I told you that with all of this the chance to be approved can be possible?
What is a business advance?
A business advance, also known as merchant cash advance is a contract between a lender and a current business which has been running for at least a year and a half, where the business holder takes out a loan on boosting a business in return agreeing to pay the loan holder a percentage of every credit card transaction sale traditionally ending after one year's time. The payments are not paid directly from the business owner but actually automatically transacted from the company which approves and processes each transaction.
What is the benefit of using a cash advance for a business advance in comparison to a traditional loan company?
The first benefit of business advance in comparison to a traditional lender is that after the actual statement of approval the cash is available to be given within 24 hours.
Through a traditional lender you have only a specific amount of time to slowly typically monthly to pay back your owed loan, while risking late fees, transaction fees, hidden fees, and much more. While with a cash advance you do not simply pay monthly which means you are not paying out of pocket if your business does not jump into action right away.
With a traditional loan you risk second mortgages, loss of assets, risk homelessness if business fails, along with possible bankruptcy if no collateral was taken. With a merchant cash advance your assets are safer, your home stability is safe, and you are not risking bad credit or bankruptcy.
With a traditional lender a large percentage of loan takers are actually denied before they get a chance to save a business, with business advances those who were told no, are told yes.
What is the catch with a business advance?
The catch is there is no catch; you get a high chance of successfully continuing your business, where only a fraction of your sales income is taken for a short period of time. This enables you to make more money than with a normal monthly charged loan. You keep your business running for a longer period of time.
by: Jeff Jackson
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