Top 10 Reasons to Consider a Business Cash Advance for Your Retail Business
If you’re considering a business cash advance, or just want to know if a cash advance would work for you, here are Express Working Capital’s top 10 reasons why you should consider a cash advance to meet your operating cash needs today.
- An Express Working Capital business cash advance is an advance against future credit card sales, it is not a loan. And unlike a traditional loan, a cash advance is not based on, or tied to, your personal or business assets.
- A business cash advance does not appear on your balance sheet. Since a cash advance is not a loan, it is not typically included in your business financial statements.
- Since it doesn’t appear on your financial statements, a cash advance doesn’t impact your ability to obtain additional types of financing.
- Simple qualification requirements: qualifying for an Express Working Capital cash advance is as simple as 1-2-3! If your monthly credit card sales are at least $10,000, and you’ve been in business for at least one year, you’re qualified!
- Personal credit score: your monthly credit card volumes, and how long you’ve been in business, are more important considerations than your personal credit score. This creates an almost immediate access to cash that many business owners would not normally have available.
- Streamlined application process: our one-page application, copies of your driver’s license, business license, bank and credit card statements—that’s it. Try that at your bank.
- Fast turnaround and response times: underwriting and funding decisions are usually made within one day of receiving your completed business cash advance application. This is another one to try at your bank.
- Asset-based loans require mounds of paperwork and weeks of your time. Our simplified application process requires only the minimum documentation, and can be completed in as little as 45 minutes.
- No need for years of historical business data. Express Working Capital’s cash advance approval amount is simply based on last year’s data, and what you project as next year’s credit card sales.
- Variable payments: instead of the fixed monthly payments you’re used to making, your payments are simply a small percentage of your credit card revenue. If you make more, your payment is a little more; if you make less, your payment is a little less. Variable payments not only help you better manage your cash flow, they just make sense.
Please visit the Express Working Capital FAQs page if you still have questions or need additional answers.
Our Free, No Obligation Quote will get you started, and let you know exactly how our cash advance program will work for you and your business.
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