So your business is at a crucial crossroads – the time is ripe for expansion, but you don’t have a bank that is willing to lend you the difference between what you have and what you need.
This is where we step in. We went into business to provide loans and merchant cash advances to small businesses. We started out small too, and we want to help as many entrepreneurs as possible fulfill their potential.
Funding for Alternative Business Loans
Here’s what we offer:
- Automated payback options
- Terms from 3 to 24 months
- Loans & MCAs from $1000 to $2M
- Loans funded as quickly as three business days
- Dedicated support from business funding experts Monday through Friday
Which is better for your business – the Small Business Loan (SBL) or the Merchant Cash Advance (MCA)?
Most small business owners who need some cash but run most of their business through credit card terminals prefer merchant cash advances. The reason for this is that MCA’s don’t require regular minimum payments. Instead, it comes out as a pre-set percentage of daily sales. So when you have a big day, you pay more, but if you have a slow day, you still pay that same percentage. This takes a lot of the stress out of the situation for the business owner because he does not have a fixed payment awaiting him each week or month. This provides a great deal of flexibility paying back the loan.
How much does an MCA cost?
Rates vary with the size of the advance, the estimated term of repayment, the percentage of daily sales that you withhold and the credit score of the owner (both personal and business). You can expect a factor rate between 1.18% and 1.45%, or between 18 and 45 cents on the dollar.
What is an automated daily repayment?
A set percentage of your daily sales come right out of your credit card batch outs, or straight from your bank account. If you apply here, one of our funding agents will get in touch with you so that we can deliver the capital that your business needs.
What are the advantages of the Small Business Loan?
Businesses that already have a reliable, significant flow of capital through their business prefer small business loans. These loans cost less in terms of interest because they come with fixed terms and payments. In other words, the lenders know when they can expect their money back, so you don’t represent as much of a risk. Small business loans (SBLs) typically come in higher amounts, which is why larger businesses tend to choose them. Lenders rely on the total income of a business rather than just credit card receipts. If you have a more regular income, and if your income is larger, your business would benefit more from an SBL.
How much does an SBL cost?
The interest rate varies with the size of the loan, the term of repayment and the owner’s business and personal credit score. The factor rates start lower (1.15% to 1.40%), or 15 to 40 cents on the dollar.
Does an SBL use automated daily repayment?
Yes, but instead of a percentage of income, this comes out as daily repayments, 21 days a month.
Want more information? Apply here to get communication from a funding agent to help you take your business to the next level.