Business Cash Advance

Need funding, but have less than stellar credit?

Borrow against future sales to get access to quick, short-term capital with a
Business Cash Advance

A Business Cash Advance is best used for short-term cash infusions or specific purchases that create high ROI. This type of funding is typically unsecured and is based on the purchase of your future business revenue.

A  cash advance for your business is a short-term lump sum infusion of cash that carries a fixed daily or weekly repayment schedule based on your business’s monthly sales history.

Unlike a merchant cash advance, the repayment schedule does not fluctuate with your sales. Instead, it is repaid through regular ACH (Automated Clearing House) debits.

Though business cash advances typically come with high fees and factor rates, easy approval and fast funding make them an attractive solution for many businesses that find themselves in a temporary financial tight spot.

However, before you agree to a cash advance, it is important that you are certain of your the ability to repay your loan according to schedule.

For some businesses, the high repayment fees can cause them to default or require refinancing. For this reason, business cash advances should only be used as a short-term financing solution.

If you accept a business cash advance, be careful not to stack one on top of the other as it can lead to a debt spiral and make repayment not affordable.

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Business Cash Advance Pros & Cons

Pros

Pros

  • Easy access to funds
  • Quick and easy approval
  • Bad credit is ok
  • Limited documentation required
  • Can be used for a number of business needs
Cons

Cons

  • Fees are higher than traditional business loans
  • Daily paybacks
  • Shorter terms
  • Debt spiral caused by stacking

General Loan Information

Funding Amounts

  • $5,000 to $500,000

Factor Rates

  • Factor Rates 1.10 to 1.49

Credit Requirements

  • FICO Credit Score 500+

Business Requirements

  • Average Business History
  • Monthly Revenue $5,000+
  • 3+ months in business
  • No Credit Card Sales Required

* If you meet these general loan guidelines, you will most likely receive loan offers for this funding product. Loan offers are preliminary based on the information evaluated, final funding amount offer may be adjusted during final underwriting.

Let Fimerica help you Borrow with Confidence!

Not sure a business cash advance is the financing solution for your business? No problem! Fimerica makes it easy to view and compare all of the business loans and financing products for which you qualify. Get your real-time loan offers in 5 minutes or less.