Mid West Action Team

The Difference Between A Business Cash Advance and A Bank Loan

Did you know that most banks require a huge investment of time to even be considered for a small business loan. Over 60% -70% of those who apply are declined for a small business loan. 90% - 95% Merchants who apply are approved for a business cash advance.

The differences between A Business Cash Advance “also known as” credit card factoring program and a bank loan is that: Getting approved is easier than getting approved for a small business loan
Two day approval versus 3 months before a bank decision is made
No restrictions on the money vs. banks require that you detail use of money
Average pay back takes only 6 months, banks loans take 3 to 5 years to repay

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This entry was posted on Monday, November 17th, 2008 at 2:21 pm and is filed under business cash advance. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.