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Rasel Rasel
06 juil. 2022
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Many business owners are struggling to find working capital. Once readily Job Function Email List accessible to most businesses, small business loans are harder and harder to come by. Thankfully, business cash advance providers have stepped up to fill Job Function Email List the gap. Some business owners are skeptical, and hesitant to be open to the idea, but there are many benefits to the business cash advance program. While they both certainly have Job Function Email List strengths and weaknesses, in this article, we hope to clearly explain Job Function Email List how they work and what their benefits can be over traditional small business loans. Who Qualifies? Business cash advances are very easy to Job Function Email List qualify for. Since they're based on revenue from credit Job Function Email List card processing, the biggest qualifying factor is whether or not you accept credit cards as a form of payment, and how often you have sales to run. This makes most retail businesses and certain service-based businesses excellent Job Function Email List candidates because they usually accept credit cards and the cardholders are physically present at the point of sale. Unfortunately, most home-based and Job Function Email List internet-based businesses don't qualify. You have to process at Job Function Email List least $5,000 per month in credit card sales, and underwriting also likes to see that you settle transactions at least 10 - 12 times every month. Personal credit is not a big factor; the only stipulation ist that the owner's FICO score is above 500 and there are no open bankruptcies. Application Process The application process is Job Function Email List very simple. A one page application is filled out and signed by the business owner. The application contains basic administrative data about the business and the owner(s) and usually also lists a few trade references.
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