Cash Advance
—also called a short-term loan or deferred deposit transactions—are loans where the business owner takes a loan against future sales. They can be a convenient and practical short-term credit option. By using a cash advance responsibly, you can effectively deal with unexpected financial emergencies or purchase inventory/equipment at deep discounts.
Terms
Business cash advance terms can range from 3 months to 18 months
Repayment
The money is paid back when your customers use credit cards to pay for purchase. Payments are taken only on weekdays (when banks are open). Your repayment is also flexible…if you don’t make credit card sales that day no payment is taken that day. This helps on those slower than usual days.
Required Documents
Cash Advances are easy to get and require less paperwork than most other loan types.
- online application
- 3 months of business bank and credit card processing statements
Fast Funding
Your company can be funded in as little as 24 business hours with a complete application and uploaded required documents