Our strategies regarding cash advance, revenue loans or micro loans:
- Avoid merchant cash advances if at all possible and work towards an SBA loan which could take 60 days but can be done quicker if the SBA moves faster. We can help you repair your credit which will take time but eventually we should be able to get you qualified for an SBA loan. Merchant cash advance loans may be necessary as we work to get you qualified for cheaper loans. Merchant cash advance leads to cash flow to grow your business.
- Look at your business’s balance sheet and see what we can replace and enhance to get you money in days at much cheaper rates.
- If you need equipment, furniture, computers, etc… look at leasing. You can lease almost everything between the carpet and ceiling of your business and make lease payments instead of borrowing expensive cash and using that. Your lease payments may be tax-deductible.
- If necessary, and in a cash crunch it likely is and if other balance sheet methods don’t work, we will look to get you the cheapest cash advance possible while at the same time looking long-term. At the same time we are getting you the advance we will refer you to credit repair, if necessary, with the end-game of getting your business an SBA or bank loan, a line of credit or an equipment lease.
And remember that WE DO NOT Charge a Broker Fee. We are paid by the lender the same as any other cash broker. Those that still charge a broker fee just get paid twice (by you in the end). If you looking at a deal now with a broker fee, contact us and we will be happy to tell you how that fee affects the overall cost of the loan. Even if you are just considering a cash advance, contact us and we will explain the cost of the loan not in a factor rate but in an interest rate so you can compare it to other loans you may be more familiar with.. If it sounds like we are saying these loans are evil, we are not. Sometimes life happens such as an oven breaking or a computer system needing replacement immediately. Cash advance loans are great for these unexpected surprises but we do not want to see your business living off these loans. Let us solve your problem wholistically, not just reactively.