Are you in need of working capital for your business, but you only need $2500 to $5500? Are you looking to get fast funding the same day to take care of business emergencies? We have you covered. If you already make $5,000 a month in business revenue and have been in business for six months we can help!
What is a Micro Business Loan?
There are over 33 million small businesses in the U.S. and hundreds of thousands of them were greatly impacted or closed because of the pandemic – in turn, making big banks leery of lending to any small business unless they have perfect credit and have a revenue of a million a year or more.
But, where does that leave most of the small businesses that don’t have perfect credit, don’t want to put up collateral, and only earn around $5,000 to $20,000 a month in revenue?
What about SBA loans? Well, same thing, you need to wait weeks or months to be approved, have great credit, and choosing the right government SBA program can be confusing. There are some pros to SBAs, but generally there’s more SBA cons. They don’t help any business with fair credit and need the money today or yesterday.
About Microloans for Business
Enter the business cash advance, also known as the Merchant Cash Advance. These are alternative financial lending solutions for most small businesses out there, as long as they have cash flow. Poor credit doesn’t necessarily pertain to business cash advances as well.
Business cash advances are gaining in popularity quickly because of their fast funding times (you can usually get a merchant cash advance in under 8 hours) and for their no collateral needed and minimal if not non-existent credit score requirements.
Business Cash Advances give you an upfront sum of money based off of your monthly revenue and is paid back through daily or weekly ACH auto deductions from your business checking account.
A micro business loan is perfect if you only need $2500 or $5000. The funded amount you can receive is based on your monthly revenue. For example: if you make $5000 a month you can probably get approved for a $3700 business advance. If you make $10,000 a month you can probably get a $7500 advance.
A micro business loan can be used for over 700 industries, including industries that big banks won’t touch. The most important factor we look at in advancing you the money is your cash flow. Everything else is common sense.
Using Microloans for Your Business
As a business owner, you already know where to use the microloan. However, most business owners miss the important steps to upgrade their business with better employees and creating an online presence.
A lot of business owners also can’t see what is really going on with their business because they have been so close with it over the years that they have blinders on.
It’s crucial to spend some of the advance for hiring a business consultant, a forensic accountant (to do a thorough business audit), and a social media marketing strategist.
With these third-party professionals, you can see clearly for the first time in years what your business really needs. This can be the make it or break it moment of your business. And of course, take care of payroll and fix or replace any equipment that is hindering your business and quality output.
Working with Us for your Micro Business Loan
Getting a micro business loan is straightforward and fast. As long as you meet the basic requirements of being in business for six months, having a monthly revenue of $5,000 per month, and a credit score of 450 and a business checking account, the rest is in the details.
You will be able to apply within 5 minutes and see your offer, if one is given. You have a choice to accept it or decline it. You will also get a dedicated account manager to help you along the way, and if you choose to, you can take out additional advances down the road.
Please fill out the quick application and thank you for visiting us! We hope that every small business can find this information, because banks have turned their backs on us! God bless.
Erik C. Johnson
Independent DAC Agent