Getting Business Cash Advance

Getting a Business Cash Advance When the Bank is Not an Option

In a recent article titled "Small Business Owners Get Creative," CNN Money's Ian Mount profiles four small business owners who were able to find money for their businesses in "creative" ways, when their first choice, bank loans, did not come through. All four small business owners had their initial applications turned down, but according to the article, they "refused to take no for an answer."

These small business owners were able to secure business funds through credit unions, SBA loans, micro loans and peer-to-peer lending.

But what this article failed to highlight are the numerous small business owners who were able to get cash for their businesses through credit card factoring, a funding method known as the business cash advance. Business cash advances have been a huge help for the myriad merchants who have been unable to get traditional funding through banks.

Business cash advance requirements are typically easier to meet than bank loan requirements. These requirements include:

· Business must process at least $3,500 in monthly credit card sales

· Applicant must have owned the business for at least six months

· Owner may not have unresolved bankruptcies

· Business must have at least one year remaining on lease

Business cash advance funds can be used without restrictions. Therefore, applicants do not need to present business plans when applying. All that is needed is a two-page application, four months of merchant statements, a copy of the business lease, a copy of the business owner's driver's license and a voided business check. These simple documents can qualify a merchant to receive up to $500,000.

The bank is not the only solution. Get a free online quote today!

By Gaston Castro