A healthy cash flow is important to keep any business thriving, continually growing and to be able to keep up with the competition in the market. Financial crises though, can never be held off. Even with the most meticulously planned budget these issues may still arise due to many factors such as the unpredictable economy and markets. Deciding on the best funding option to supplement the business with the needed working capital is important. Enumerated are several reasons why you should consider a business cash advance.
A business cash advance is probably the most ideal option to take when you are in urgent need of a quick financial fix. Whether your business is facing a problem that has brought up emergency expenses or the business plan that you have drafted is time sensitive, you can provide an express solution. All the processes from the submission of filled-in application form, review, approval and the release of the money needed would take less than two weeks.
The minimal time to wait has resulted from the elimination of credit standing check and financial history evaluation as both are not considered vital considerations for business cash advance application. The applying business owners need not to go through the trouble of preparing for a persuasive presentation since justification for borrowing the amount is not required. Conveniently, this type of funding program does not call for you to put up any of your personal or business owned assets as collateral.
With an approval rate of over 90%, the probability of you having the funds on time is much higher. Upon approval, an agreement will be drafted which includes a discussed percentage which will be regularly taken from the sales transacted through credit card. This flexible payment term will end upon the full payment of the amount borrowed. This means, if by chance you go through a low sales season, you would not be pressured to look for the money to pay back the loan. Instead, the payment terms with the same regular percentage deductions would run a longer time. And conversely, if the business does well the coming months, then you’ll be able to fully repay the business cash advance in no time.
When you acquire of a business cash advance to take advantage of the great features mentioned above, you will be assuring the longevity of the business. And in addition to supplementing the needed cash flow for the business operations, you are also building a good credit standing for your business.