Do you lose business opportunities because of lack of funds? Are you tired of waiting weeks or months to get your business loan sanctions? Does your business financing application ask an unnecessary array of financial documents? Are you fed up from all intrusive questions around your loan proposal? Are you looking for a quick and troublesome way to get a credit line for your business and get a profit for your competitors? If yes, then business advances, also called down payment traders are the solution to your problem.
Business advances are alternative funding that revolutionized the business world. While traditional loan applications can take months to process, business advance service providers release funds within a week, sometimes in less than 3 days. This application is available online and is easy to fill. Next, you don’t need to provide a lot of financial documentation to get your application approved.
The application process works in the following ways:
1. Profitable credit card processors approved advances for down payment are not loans, but rather purchases in advance from your business credit card receipts. Thus, to accept this type of funding, you must have processed the main credit card such as a visa or mastercard. Open an account with an approved credit card processor and the credit card process is at least six months before sending your application.
2. Submitting the Business Cash Advance Provider application you need to only submit your business statement and credit card with your application. Your application is evaluated using two criteria, the number of months in your average monthly business and business income. Usually, you are required to be in a business at least 9 months and have a monthly credit card receipt of a minimum of $ 5000 to qualify for funding.
3. Evaluate your down payment if your application is approved, you will receive a contract from your provider. This contract will determine the four important information.
* Number of credit card accepts in the future – this determines the amount you sell to the provider for progress. This also the total cost of this increase.
* Total loan amount – this determines the amount of money you will receive from the provider.
* The percentage of daily credit card sales – this determines the percentage of credit card sales that you will pay for providers every day. This percentage must be repaired. Be careful with hidden clauses that allow immoral providers to manipulate this percentage at the last stage.
* The term penalty – terms determine contingencies and how to deal with it.
After receiving a contract, read carefully. Make sure you understand each term and the conditions specified in the contract. Remember that business progress is not a loan. Your contract is the only protection of your law against fraud providers. After you sign and send your application, business advances will be released, usually in one week or less.
Business advances allow you to receive funds quickly and easily. To maximize your funds, make it used to yourself well with funds and application processes.