Executive Summary: Options for Working Capital Business Cash Advances

The following key working capital business cash advance issues are listed in this Executive Summary Overview:

• 5 reasons to consider working capital business cash advances.
• 10 problems to avoid with business cash advances.
• 6 criteria for securing business cash advances up to $300,000.

• A business cash advance is one of the few viable options for reliably obtaining short-term working capital
• There should not be any up-front fees or closing costs with effective programs
• Working capital financing can be obtained very quickly
• There is no need for collateral
• The business cash advance approach is available to virtually any business that accepts credit cards in their business transactions

• Up-front fees
• Closing costs
• Maximum business cash advance of $10,000 to $50,000
• 2-3 years or more in business required to qualify
• 12 to 24 months of $10,000 to $25,000 (or more) in credit card sales required
• Financial Statements required regardless of business cash advance amount (Note: larger merchant cash advances can involve additional information such as financials)
• High credit scores (frequently 680 to 700) required to qualify
• Collateral required
• Fixed payments to pay off the business cash advance
• Fixed term to pay off the commercial financing

• Business accepts credit cards as a form of payment
• If leasing, in good standing with landlord and at least one year remaining on lease
  
• One year operating history as retail or service business
• Acceptable personal and business credit (minimum personal credit scores of 500)
• Ability to document credit card sales of $4000 or more per month for the last six months
• No open tax liens, judgments or bankruptcies

• No up-front fees or closing costs