All businesses at some time or another will need financing. Most if not all will require fast small business funding. This means approvals in 24 hours and actual funding in 5 days. This is possible and Smallbusinessfunding.com makes it happen daily.
Fast small business funding comes in several forms. Factoring, Merchant Cash Advance, Secured Business Financing and Unsecured Business Financing. When discussing these options we are talking about them in the context that the small business owner has been declined by a bank or has bad credit, hasn’t been in business long enough, has a tax lien or bankruptcy, doesn’t want to borrow a lot to make it worthwhile for a bank to service, or needs funding fast.
Factoring is the process by which an alternative lender purchases future receivables at a discount. Your creditors will pay the lender directly. The lender will take out a set percentage of the receivable to pay themselves then forward the rest on to thew business owner. This form of fast small business funding is usually against large receivables. Mostly service and manufacturing industries.
Merchant Cash Advance (MCA) and Unsecured Business Financing work in somewhat the same manner except an MCA will take a percentage of your daily credit card processing before it is deposited to the business account. An unsecured business loan will take a daily percentage of your receivables directly from your bank account. These two types of fast small business funding are the most common for smaller businesses and retail establishments that have smaller ticket items.
Secured business financing will use real estate in most cases as collateral. Business owners with poor credit will go this route as a bank will decline them despite having collateral. They will be able to receive funding rather fast, usually within days once all details are verified. The collateral can also be items like vehicles as well.
To see how much and how fast you can receive fast small business funding please click here.