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Home / Business Financing / Bank Loan or Unsecured Business Cash Advance

Bank Loan or Unsecured Business Cash Advance

I think it’s very important that small business owners know the specific differences between getting “dream” funding from a bank or “realistic” funding from an unsecured business cash advance company.  Your choice can end up deciding how successful your business will actually be.  The comparisons:

Banks –

Traditionally, banks are more conservative with their investment dollars. Unlike many venture capitalists or angel investors, they are far more likely to approve a loan for an established business over a startup or emerging company. This is largely due to the fact that they are investing the money of their depositors.

Business Cash Advance Companies –

To the contrast, there are financial companies out there that do have the same deep pockets as these traditional banks.  The difference is that these independent wealth powerhouses will give unsecured cash advances to businesses that they think have a great future and thus invest in their potential.

Banks –

Before approaching a bank, you should have all your key documents in order, starting with a solid business plan.  You will also need to have the most recent financial statements available, projections for the business, and a repayment plan, plus collateral.  Collateral may include:

–  Hard goods such as equipment;

–  Real estate;

–  Stocks or bonds;

–  Other personal assets;

–  Personal guarantees.

Business Cash Advance Companies –

This will make 99 percent of smart and shrewd small business owners very happy.  When you partner with a legitimate and legal business cash advance company, you will find out how painless doing business with them is.

There is no need for financial statements, no projections for the business, no repayment plan and best of all, no collateral is needed whether business or personal.  Do you realize how important that last part is to a small business owner.  No collateral needed?

Banks –

Banks also want to know that you’re making your own investment in the business. A bank is more likely to approve a loan if it sees that the owners are investing a good percentage of the necessary startup capital into the business.

Business Cash Advance Companies –

If you need an infusion of cash for your business, it probably holds true that most small business owners don’t have a healthy some of cash to invest in their business besides the loan they are looking to get.  So, the old saying that it takes money to borrow money is obviously self-evident when dealing with traditional banks.

On the other hand, an unsecured cash advance comes with no strings attached such as you putting up your own cash funds to receive this advance in the first place.  Let’s not forget that there will be application fees ranging from $250 to $500 with a bank… again there being no up-front application fees that are required when doing business with a cash advance company.

Banks –

Once someone said to maximize your chances of receiving an approval on a business loan from a bank, it’s wise to look at the situation from the standpoint of the lender.

How so you may ask?  Well, a lender wants to know:

–  Exactly how this business will operate and why it’s expected

to make money;

–  Exactly how the money will be used;

–  How you plan to repay the loan and over what time frame;

–  That you’re willing to take a significant financial risk in the

business;

–  That you’re responsible and can manage this business;

–  Who else is involved in management or operations, and that

they will also be responsible for the proper use of the money

from the loan.

Business Cash Advance Companies –

Besides the fact that any small business owner who has borrowed money from a bank in the past knows the decision for approval and the dispersement of funds doesn’t happen overnight.  It takes time.  A long time in most instances.

With an unsecured cash advance business, you can expect an answer on your approval within 24 to 48 hours.  And the good news is:  Approximately 90 percent of small business owners are approved for the business cash advance whereas only 30 percent get an approval from a bank.

Best of all, you receive your funds within one week’s time. Plus, you can do whatever you see fit with the money whether it be buying new equipment, purchasing more inventory, buying a company vehicle or expanding your business into other markets.

The smaller the business, the more closely the person behind will be evaluated.  Hence, you need to make sure you get all your financial records in order before approaching  a bank or lender.  You will also need a solid credit rating to make this work.

If waiting long periods of time for an approval, or laying your whole financial history and personal history bare doesn’t bother you, then a bank is for you.

However, if you want an alternative to bank funding that gets back to you within 24-48 hours for an approval and who direct deposits your funds up to $250,000 into your account within one week’s time and all this being painless, then what in the world are you waiting for.

And for further clarification, you keep your bank account and Visa and MC transactions the same.  Your bank won’t notice the fact that you applied for advance funding except when they’re impressed by the deposit in your bank account.

Only you and you alone will know.  It’s safe and secure.  Above all, it’s the new way to fund your biz.   Get your business cash advance now.

Funding for small business owners is getting harder to find.   Although banks are needed, most make it impossible for this small  business owner to get  funds.  We turn the tables by making these  business cash advances easy to apply for and funding goes into  your bank account within one week, safe and secure.

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