Tag Archives: advance
Benefits of Business Cash Advance from Rapid Capital Funding
Whether it is a small or medium sized business, excess funds are always required for maintaining its operation. Now you can get this excess cash supply through business cash advance from Rapid Capital Funding. The cash is not only easily accessible but also uncomplicated. This cash advance requires fewer documents and takes shorter time for approval.
What is Business Cash Advance?
Business cash advance from this alternative funding institution gives small business owners an unsecured cash advance up to $250000 within 7 days. These alternative financing solutions, unlike traditional business loans, has a direct link to your transactions as it is solely based on future credit card sales. As a repayment norm, this cash advance purchases only a small proportion of your upcoming credit card sales. Unlike traditional small business loans, this cash advance is much faster and is effortlessly achievable
How Is Cash Advance Responsible For Your Business Growth?
Business cash advance does not ask you for a security collateral or personal guarantee which is a relief for small time business owners. Apart from that, the small business owner does not need to have excellent monetary back up or an extended business history. You are assigned for it without bearing any additional cost like closing fees, hidden charges or startup cost. This cash advance program causes less botheration to you in terms of paperwork.
Take a quick look at the benefits of the cash advance:
Requires no security collateral
Approval is quite quick
You require no personal guarantee
You have flexible payment schedule
You receive your funds within 7 days
Approval rate close is to 95%
No Applications required
Transactions Should Roll Through Credit Cards for Cash Advance
If you are applying for a cash advance program then your monthly transactions should roll in through either debit or credit cards. At the same time the transactions should be a minimum of $5000 per month.
Make A Single Page Application for Cash Advance
As this cash advance program is based on future credit card sales so you need to make a single page application comprising of 3 months bank statement and 4 months credit card processing statement.
Basic Requirements of Business Cash Advance Eligibility
The first and foremost thing that you need to do for this merchant cash advance program is make a registration with the United States. In addition to that, your business transactions should be a minimum of $5000 through credit or debit card. Lastly, the small business owners should also be current with their lease.
Use Cash Advance for Your Own Business Needs
The alternative funds that you receive can be used for any business purpose like renovation, business expansion, inventory stock building and for that you do not need to give an explanation mentioning the specific use or purpose.
Enjoy a Flexible Pay Back Norm
With business cash advance you dont have the added tension of paying a fixed monthly sum. This cash advance program is directly linked with your business and so you have the liberty to repay as per your business conditions. This means that you pay less when your business does not do well and vice versa. Unlike traditional bank loans, you do not have to undertake any burden of late fees.
Whatsoever is your intention for additional business financing, small business owners can easily avail it and fulfill their credit need.
Payday Loans How To Choose A Lender (Page 1 of 2)
Most of us have experienced a minor crisis which called for immediate cash. If you have been in this position you may have considered taking out a payday loan, also known as a cash advance or paycheck loan. It’s a well known fact that these loans feature steep finance charges, obligating the borrower to repay the debt at an annualized interest rate of over 900%. Because of the high cost of this form of borrowing, payday loans should only be used as a last resort. Using them frequently can trap a person in a dangerous cycle of debt.
If you decide on a cash advance loan you have a number of options. To the dismay of many lawmakers, this form of lending has proliferated throughout the US and Canada, and those who don’t have local access to a lender can easily find one online. In fact, your online payday loan options are so abundant that you may have some difficulty in settling upon a lender. The following are some unique features of payday loans, and a few guidelines to follow when getting one.
Exactly how high are the finance charges? A typical $250 payday loan carries finance charges from about $40 to $75, which translates into an APR of 400% to 800%. Not much of a bargain, but you can find significant differences from lender to lender.
One criteria you can use to compare payday loan companies is the maximum amount they will lend. The minimum amount is normally around $200, with the upper limit being somewhere around $2000. The precise amount will be determined by several factors including your income and work history. In many cases you will be able to increase the maximum amount for which you are eligible by building a history with the lender. Take care not to borrow more than you can afford to repay on the specified date, or you will incur even more finance charges.
How quickly will you receive your money? If you get the cash advance in person at a local establishment, you will have the cash as soon as you are approved. Online lenders take slightly longer, with the next business day being the norm. Some companies offer money wired into your account on the same business day provided you receive approval before a certain time, for instance 2:00 pm. You will probably pay more in fees for same-day service.
The minimum monthly income requirement for a payday loan can be as low as $800, not a big issue for most full time workers. Most lenders will not run a credit check; however, many of them use some type of tracking service that verifies identity and other information given by the loan applicant.
What if you are self employed or living on a fixed income like a pension or social security? Not all lenders will extend credit for this type of income, but you can find one with some persistence. In the event that you receive some non-traditional form of income that you want considered, the lender will verify the income by looking at your bank statements.
Do you happen to have access to a fax machine? With many payday loan companies, you won’t need it. “No Fax” lenders are the norm these days. While some lenders may require you to fax proof of income, most of the time everything can be verified online, saving valuable time in getting your money which can be deposited directly into your checking or savings account.