Farming is a capital-intensive industry that’s on the decline. Getting the working capital you need to stay in business is more important than ever. That’s where a Farming Business Cash Advance may greatly benefit you.
There are over 2 million farms in America in 2023, however in 1935 there were around 7 million farms. Farms are shutting down at a rapid rate. Farms are reducing but the size of the farm is increasing and becoming more appealing to the corporate business model. Let’s dive into how to get quick business capital to rescue your operations and your farm.
What is a Same Day Farming Business Cash Advance?
A same-day business cash advance allows you to get funds immediately to cover costs, repair equipment, buy feed for livestock, and cover any other unexpected emergency. The money is completely yours to do what you want with.
Business cash advances are similar to merchant cash advances, whereas they draw from your future revenue. However, a business cash advance will draw from your general business income whereas a merchant cash advance draws from your future credit card receipts of your business.
Business cash advances are gaining in popularity as big banks tighten their lending practices after the pandemic. It is estimated that only 13% of small businesses get approved for a big bank loan.
Big bank loans are extremely hard to get today, as they want you to put up collateral (part or all of your farm), have impeccable credit, then you have to wait several weeks to get the funds. Business cash advances obliterate all of that nonsense. They are truly an alternative financial solution for the working class.
Benefits of a Business Cash Advance
Let’s break down why a business cash advance is your best option:
One: Bad Credit Accepted – You only need a 450 credit score to receive up to $25,000 the same day; and, 500 if you need capital up to $2 Million dollars.
Two: No Collateral – You won’t need to put anything up for collateral.
Three: Business History: You only need to have owned your business for 6 months and show $5,000 a month in revenue the last three months.
Four: Immediate Funding: Same day if you apply in the morning, monday thru Friday, chances are you will have the funds in your account by closing, around 6pm Eastern time.
Five: Transparent Terms: Terms are one year or less, with transparent rates. We use factor rate instead of interest rate, and a factor rate of 1.19x means you would pay back $11,900 for a $10,000 advance if paid back in 30 days. 1.29x rate for 60 day pay off, etc. The rate is capped at 1.49 if you take the full term to pay off.
How to use your business advance to grow your business
Having same-day working capital for your farming business is critical, sometimes crucial to keeping livestock alive. Here are some business strategies you can use the advance for:
One: Repair or buy new equipment. Buying a new sprayer or planter might get you a full crop instead of a partial crop, or buying a new tractor could reduce repair costs in the future and reduce a lot of headaches.
Two: Buy a stand and booth to show off your produce or livestock at the local farmers markets, and hire new hands to revitalize the farming operation.
Three: Hire an agricultural engineer to come out and assess your farm to see if it’s running at optimum efficiency. In the end, you could improve your bottom line by a hundred percent or more.
Four: Market your farm online by hiring a social media marketer and advertiser to get your brand known more to people. Look into running a featured ad in Yelp Business, the Yellow Pages, and look into Google Pay-per-click advertising.
The list goes on for what you can do with the money, but instinctively you already know what you need to do with it.
Why Choose Us for Your Farming Business Advance
We offer farmers transparent terms, a quick credit check (no hard inquiries that affect your credit), a dedicated account manager to work personally with you, and the ability to draw funds over and over again as needed.
We offer two types of funding, as seen in the image:
I grew up around farms, and our family has supported local farming for yours. I am committed to helping every small farm stay in business and grow bigger not smaller as the years go by. Thanks for reading, good luck to you, and here is to more prosperity!
Learn More About Same Day Business Cash Advance.