There’s over 33 million businesses in America, generating over $22 Trillion in Gross Domestic Product each year. However, 20% of small businesses fail in their first year because of lack of business funding. Today, we are going to help struggling businesses get the help they need with same day business funding.
What is Same Day Business Funding?
Business funding is your ability to gain working capital to continue the day to day operations of your business. Most businesses, out of the 20% that fail each year, cannot find the resources for business funding.
A same day business fund is a form of a business cash advance, which is not a loan but an advance based on your future earnings. These advances are short term, a year or less, which give you the flexibility to do what you want with the funds.
Benefits of a Same Day Business Cash Advance
A same day business advance is exactly that, receive funds the same day. We are the only lender online that can promise this. Receiving up to $25,000 same day is a reality when you meet the basic requirements.
The benefits of a business cash advance empowers the business owner who does not have great credit, does not want to put up collateral, and doesn’t want to jump through a ton of hoops and wait weeks or months to get the funds.
Here’s a quick snapshot of what it takes to get approved for same day business funding:
- Six months in Business.
- A credit score of at least 450.
- Have a Business Checking account and EIN.
- Have made $5,000 in revenue in the last 3 months.
- Have a minimum of NSFs and Liens
That’s it! Pretty simple right? The reason why same day business funding is a lot more convenient and easier than big bank loans is your cash flow and the term length.
Your credit score or collateral doesn’t matter. What matters is that you can pay back the advance, that’s why we look at your cash flow. We also have less stringent requirements because of year or less terms. A lot of headaches and red tape is avoided by keeping the terms under a year.
How to use your Same Day Business Advance to Grow your Business
The most obvious reasons to get a business advance today is to cover operating costs, repair or replace equipment, and pay any outstanding debts.
The less obvious reasons to get a business advance is to attract quality staff and offer a hiring bonus, hire a social media marketing strategist, and hire a new accountant who can audit your business and see any cracks in your books that might have been overlooked before.
If you haven’t seen CNBC’s “The Profit” you definitely should. Marcus Lemonis goes into American businesses which are struggling, assesses their situation.
If both parties agree, the business owner and Lemonis, then Lemonis offers the business owner a sum of cash for a piece of the business and starts to clean it up.
It’s a very exciting business show and reveals how some business owners get tunnel-vision with their business and can’t see glaring problems. It’s also very educational, as Lemonis is an expert when it comes to business operations and goes through a formula to turn the businesses around.
Why Choose Us for Your Same Day Business Funding
It takes less than two minutes to apply and see if you qualify. If you qualify you will see your offer and it is your choice to accept or decline the offer at that point. You also get your own dedicated account manager if approved to help you with understanding the funding process, and how you can withdraw more funds in the future.
It is my mission to help as many small businesses recover as possible. I am about the American Dream, which big banks aren’t a part of, and want to see America return to normal.
Learn More About Same Day Capital
Erik C. Johnson
Independent DAC Agent