Business cash advance loans can vary anywhere from $5,000 to $300,000. Small or larger businesses can benefit from converting their future cash flow into immediate working capital in a form of hard cold cash. The most likely businesses to benefit from business cash advance loans are: bars and restaurants, service orientated businesses and retail stores.
Credit Card Factoring
But what these businesses who do not qualify for a ‘receivables factoring’ loan can provide is their sales volume, as well as their documented credit card sales. It’s the level of sales and income along with the credit card sales that becomes an asset to the business. Business cash advances, as much as $300,000 can be received, based on the merchant’s sales volume history and its future credit card sales.
Before you use this strategy, you as a small businesses owner should know there may be a few recurring and potential problems that you will need to know and expect.
Here are some of the pitfalls that you as a small business owner can expect and thus should try to avoid when receiving a business cash advance loan.
> Up-front fees – Try to avoid any up-front fees these loan companies may charge
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