Are you a business owner looking for fast working capital? Do you need money now for your business and can’t wait weeks or months for a bank? We offer up to $25,000 the very same day if you meet our basic requirements, which we will explain below. Here are the best business cash loan same day funding.
What is a Business Cash Loan Same Day Funding
We offer a type of business cash advance that is also called a merchant cash advance. However, a traditional merchant cash advance is paid back through a business’ future credit card transactions, whereas a business cash advance is paid back with general business revenue through the business checking ACH.
Many business owners prefer business cash advances over merchant cash advances because they don’t offer credit cards to their clients or customers, or they simply want a simpler payback method, such as generalized business revenue.
Business cash loans can be used for anything business related and can be paid back daily or weekly through ACH, so you don’t have to be burdened with making payments manually through your bank.
Business cash loans are not loans but advances on your revenue. Business cash advances are preferred over big bank loans for many reasons and are quickly gaining popularity among small business owners.
Business cash advances are not based on interest rates, but rather factor rates based on the principle borrowed. Common factor rates are around 1.20 to 1.50. For example, if you pay the advance off early you can get a lower factor rate, of let’s say 1.20, so if you borrow $10,000 and pay it off in 30 days you would pay back a total of $12,000. If it took you 60 days to pay it off the factor rate would increase accordingly and you would have to pay a higher factor rate.
Business cash loans and advances are popular because big banks have tightened their lending practices since the pandemic and only lend to the best business with the highest credit and highest revenue. Plus, it takes weeks or months to get the money from a big bank, if they approve you at all.
Using your Business Cash Advance
A business cash loan same day funding can be used for anything business related. The most common reasons to apply for a business cash advance is to pay debt off, pay payroll, repair or replace equipment, or expand the business. Trucking companies, for instance, need to float expenses for up to 30 days before they receive receivables from their customers.
Around 82% of businesses fail because of lack of funds or working capital. Big banks are only approving 13% of the applications they receive and usually require collateral, a near perfect credit score, and two years in business and a high monthly revenue.
With our same day business cash loan or advance, you can receive the funds the same day if you have been in business for at least 6 months, have made $5,000 or more per month in business revenue for the last three months, and have a credit score of 450 or higher. That is it! Just have your bank statements ready so when you apply, ideally before 9 am Eastern, you can get your money before closing, Monday thru Friday.
Working with Us for Same Day Business Funding
We are committed to help every business owner stay in business because we own businesses ourselves. We take it personally when a business shuts down, especially a business that has been operating for decades and is family owned.
We want to work with you. Not many lenders can offer what we offer, especially same day funding. You can simply click the link below and fill out a 5 minute application. It won’t affect your credit score. If approved, you can see the amount you’re approved for and the early payoff discounts you can receive. Thanks for reading and good luck. I hope this is what you have been looking for!
More about Merchant Advance Same Day Funding.