Get Fast Funding with a Small Business Cash Advance

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Get Fast Funding with a Small Business Cash
Advance
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How a Business Cash Advance Works
IA small business cash advance is a synonym for
the more commonly used term, merchant cash
advance (MCA). In this small business financing
option, a business merchant cash advance provider
gives an approved borrower an upfront lump sum
payment in exchange for a percentage of future
sales. In most agreements, a borrower makes
payments via future credit card sales and debit
card sales. As such, a small business cash
advance allows you to repay funding based on how
well your business is performing.
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• A small business cash advance differs from a loan
  in a few key ways
• Fast funding The main advantage of a business
  cash advance is that, if approved, you may be
  able to receive funding in your business bank
  account on the same day you apply.
• Frequent payments Rather than monthly payments,
  a small business cash advance usually demands
  weekly or daily payments based on credit card
  sales or other accounts receivable.

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How Small Businesses Can Use a Cash Advance
Unlike some types of business financing, small
business cash advances have very few
restrictions. Theyre used for a wide range of
reasons, in a wide range of industries, because
you can really use the money how you want. Some
of the most common ways businesses use cash
advances include

• Cash flow A cash advance can help businesses
  meet operating costs and maintain working capital
  during periods of inflation or economic downturns.

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• Emergency financing Cash advances help
  businesses cover unforeseen expenses, like
  surprise maintenance costs or emergency supplier
  changes.
• Purchasing inventory or raw materials Whether
  you want to take advantage of a liquidation sale
  or wholesale opportunity or customer demand is
  rising, a cash advance can finance inventory or
  raw materials purchases.
• Seasonal support Businesses that deal with
  seasonal downturns, like restaurants in vacation
  towns, often use small business cash advances to
  keep the doors open through slow periods.

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How to Apply for a Small Business Cash Advance
One of the main advantages of a small business
cash advance over traditional forms of financing
is the application process. Not only are
eligibility requirements lower than traditional
bank loans or U.S. Small Business Administration
(SBA) loans, but its also much faster. While
every MCA provider is different, the process
typically goes like this
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• Research options Search small business loans
  near me to find both local and national MCA
  providers and compare terms, advance amounts, and
  customer reviews.
• Apply Most cash advance companies let you apply
  online with a streamlined process. If you provide
  business details, detailed bank statements, and
  submit to a credit report, your application may
  be processed faster.
• Approval Many MCA providers offer same-day
  business funding, so if you get approved, you
  could get the money within 24 hours or a couple
  of business days.

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How to Repay a Small Business Cash Advance
Unlike a term loan, which has fixed monthly
payments, a small business cash advance requires
frequent, variable payments. Its all based on
your sales, so if business is slow, you might
barely pay anything. A common repayment schedule
is based on daily draws, taking a percentage of
your daily credit card receipts each day until
the loan is repaid. Some companies prefer to do
fixed payments based on estimated monthly sales.
In both cases, youll likely also pay origination
and other additional fees.
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Why Choose Biz2Credit?

• Trusted partner for franchise funding
• Biz2Credit was founded in 2007 and has provided
  more than 10 billion in loans.
• Dedicated support team
• Tailored financing solutions

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