Today we’re going to talk about how to get a $100,000 business cash advance in 1 to 3 days – bad credit okay for 2023. We’re going to go exactly over the requirements you need to get the money fast, because the truth is, banks are not lending money like they used to. In fact, the lending rate is only 14%. Small banks are no better at 18%. So we’re going to talk about how you can get this money, even with bad credit and no collateral within three days.
$100,000 Business Cash Advance in 1 to 3 Days – Bad Credit Okay 2023
So let’s just dive right into this because I know a lot of small business owners are struggling right now with supply chain issues, inflation and everything else.
So here are the requirements for $100,000. This is our business loan program, we can loan up to $2 million business advance. Okay, the rule of thumb is we can loan you up to two times your monthly revenue, if you’re doing over $15,000 a month.
So if you’re doing over 15,000 a month, the last three months with your business and you have a business checking account, you can get up to two times your monthly revenue.
$100,000 Business Cash Advance in 1 to 3 Days Requirements
So here are the general requirements: You need to have a business checking account. First of all, it needs to be online. You need to be in business for four months or longer. You need to generate at least 15,000 a month in revenue the last three months.
Ideally you’re doing consistent cash flow. This is great for people that have an emergency or they want to expand their business, they’re already generating revenue, they just don’t have that extra cushion of working capital to do what they want. This can help them get the money they need within three days.
Your FICO has to be 500 or higher and you can’t have more than five negative bank days in the last three months. We will consider you if you do have outstanding loans, but just keep in mind, the offer amount will be a lot less.
How Much Business Cash Advance Can I Get?
So if you’re looking for a $100,000 business cash advance you’re going to have to be doing about $50,000 a month with your business. That’s not a lot of revenue for a small business, especially if you’re a small business with employees. The average earnings of a small business with employees is $4 billion a year. So you can easily do this.
Who Can Borrow a $100,000 Business Cash Advance
Our number one clients are loans for trucking companies or contractors. They have consistent cash flow. Now I know that trucking companies are having a hard time right now so they might not have consistent cash flow, and unfortunately this won’t work for them.
We do have other loan programs. We have an instant cash advance if you only have a personal checking account as well. So I’m gonna leave a link under this video/article.
It’s going to go to our automated application that will redirect you to the right loan program, depending on your answers on the application. This will not affect your credit score.
$100,000 Business Cash Advance Terms and Repayment
Okay, so the repayment, we use factor rates instead of interest rates. So we use a 1.18 to 1.49 factor rate for this loan program. So if you receive a $60,000 business advance, you’re probably going to pay back $71,000 to $89,500. Our terms are four months to 24 months, and the payment comes out automatically through ACH through the checking account that you used to apply for this business advance.
So again, if you’re doing let’s say you need $500,000 In three days, you’re going to have to be doing about $250,000 a month with your business. Let’s say you’re just doing the minimum of $15,000 a month that you have all these requirements. You have four months in business, you can get up to two times that 15,000 So around $30,000.
We work with over 80 lenders and we have 17 in-house lenders. You will get your own dedicated account manager who will help you through the process of getting the advance fast and there are a lot of discounts if you pay it off early and you can always draw more money, use this like a business line of credit. So if that sounds good to you than apply and thank you for reading!
Erik C. Johnson