Today's Top TipOnline business plan scams are alive and doing very well. There's even a new wrinkle: the "crowd funding". Trust me, no one makes money but the promoters in this scheme.
Stop by any day for a new Top Tip of the Day
A cash advance for small business is the best approach for a number of specific circumstances.
Those circumstances might include:
A seasonal business looking for a short term inventory loan would do well to look at a small business cash advances.
A business - or business owner - with less than stellar credit can often get funding via a business cash advance.
A business that needs working capital now will appreciate the short turn around of a cash advance transaction.
A small business cash advance is a type of credit card factoring. A cash advance company will look at your credit card receipts for the past few months and determine how much they can give you.
This is not a loan. It is an advance against cash you will receive from your coming credit card sales. It is often referred to as "account receivable factoring".
The main advantage is that it is easy to qualify for a business cash advance. Unlike applying for a small business loan it does not matter if you have bad credit or if you do not have any collateral. All that most companies require is that you have been in business for a certain period of time and process an average of a specified amount each month in credit card sales.
Best yet, because the requirements for approval are so simple you can usually receive your funding in just a few days.
The general qualifications for receiving a cash advance for small business are:
You must use credit cards in your business, usually Visa and Mastercard;
Those credit card sales must total a certain predetermined amount (sometimes as low as $2,500 to $3,000 per month); and
You must be in business for a specified period, sometimes as short as six months; and
If you meet those qualifications, this may be the kind of loan you need.
One of the other great benefits of a small business cash advance is the flexibility of the repayment. There are typically no minimum payments and no time frame associated with the repayments. The repayments are usually based on a percent of your daily batched credit card sales volume. This means that if you have a slow month you don't have to worry because your payments are less; and if you have a great month you pay off your cash advance faster.
This type of lending has been around for a while, but it is only recently that many small businesses have been able to take advantage of it.
Banks are tightening up their funding requirements. For many companies, it is time to look elsewhere. A cash advance for small business may be just what your company needs.
The chief value of money lies in the fact that one
lives in a world in which it is overestimated.
For a complete list of great business plans, check out the Business Plan Library
What a graceful combination of good wine and good fellowship.
Whether your clients hip hop or waltz, create a plan that will create your studio.
Internet Information Services
It's out there somewhere. If you can find it, you've got a great business.