| Small Business Loans and Bad Credit |
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Bad Credit Small Business Loans We provide short term funds to business customers by purchasing a portion of their future sales. We are then paid back automatically and directly from the merchant’s daily credit card settlements from Visa and MasterCard. Small to medium size businesses interested in growing their own companies and in need of capital are the typical customer for Bad Credit Small Business Loans. Although Bad Credit Small Business Loans takes into consideration the credit worthiness of the small business and its owner, we primarily advance cash based on future credit card receivables of the small business. This process enables us to provide small to medium-sized merchants’ access to working capital that may otherwise be unavailable to them. The small business cash advances can range from $2500 to $250,000. Because there are no fixed terms like with a traditional bank loan we get paid back anywhere from 6 – 12 months from the date of the Small Business Cash Advance depending on the volume of credit cards sales.
Traditional bank borrowing is generally more difficult to secure and takes much longer to consummate than funding through one of the partbners of SimpleCash. Traditional lenders normally require some form of collateral whereas we do not. With traditional small business bank funding, a large percentage of companies are turned down due to their poor credit rating. If a small business is fortunate enough to obtain financing, most banks frequently require collateral which far exceeds the loan amount.
Since traditional banks are "loaning" money to small businesses, their services are quite limited. traditional bank borrowing also creates debt which is carried on a company’s balance sheet whereas our Cash Advance gets booked as a sale. |
