When you need to get working capital fast, a business cash advance from Blursoft can help you get the money you need. Unsecured business cash advances can be a great way to get quick cash for your business without pledging your collateral. They also offer a quicker application process than a traditional bank loan.
Unsecured business cash advance at Blursoft
A merchant advance loan from Blursoft is an excellent solution for a business with less-than-perfect credit. With a simple online application, applicants can receive funds in a day. This fast application process is free from red tape and other complications. In addition, Blursoft’s high affirmation rates make it easy to get approved.
An unsecured business cash advance from Blursoft allows entrepreneurs to borrow money based on their future sales volume. This is especially advantageous to new businesses that are unable to secure traditional loans. The loan provider will typically receive a percentage of future credit card sales. This amount may be fixed or variable depending on the type of business. However, before you apply for this type of loan, you should compare the interest rates offered by each lender.
When deciding between an unsecured business cash advance and a secured business loan, the key is to understand the terms and conditions. You’ll need to fill out an online application and provide details about your business. This form will be reviewed by a money professional. Once approved, Blursoft can provide up to $10,000 in cash to businesses in need. To qualify, applicants must have a credit score of 500 or higher, have a minimum monthly revenue of $10,000, and be in business for at least four months.
Short-term loans that give businesses quick access to working capital
Working capital loans are designed to help businesses get through a short-term cash flow crunch. Many times, businesses are tied up in cyclic supply chains, and they need instant cash to meet urgent expenses. In such cases, working capital loans can provide an ideal solution.
Working capital loans are usually based on a business’s revenue and creditworthiness. Since they are intended to provide businesses with a short-term solution, repayment terms are usually a year or less. These loans are generally approved quickly, and the qualification requirements are lower than those of other types of loans. The cost of a working capital loan is also low compared to other types of loans.
While short-term loans are ideal for businesses that need a short-term injection of capital, they are not designed to replace larger, fixed-asset or real estate financing. A typical short-term loan has a four or five-month term, while other types of working capital loans have a longer repayment schedule.
Requires collateral
If you need to take a business cash advance, you should be prepared to offer collateral. You can use a variety of assets to secure the loan, including real estate, equipment, inventory, and vehicles. However, lenders will not lend more than 80% of the value of the collateral. Therefore, you should prepare collateral that is worth at least 25% of the total loan amount. Moreover, if your business is high-risk or you have bad credit, you might need to put up even more collateral.
The lender can seize the collateral, which is why it is important to select the collateral wisely. In addition, you should make sure that the collateral is not going to destroy your business in the event of default. A good example of collateral is cash, because it is the most liquid asset. Nevertheless, tangible assets such as accounts receivables or invoices are also accepted as collateral.
Faster application process than traditional bank loans
The bank loan officer will need to evaluate your business to ensure its legitimacy and its ability to repay the loan. Various ratios and financial reports will be required. It’s important to gather this information in advance so you’ll be able to provide it to the bank.
The application process for traditional bank loans can take up to three months. Fortunately, there are alternatives. Alternative lenders use different criteria than traditional banks and will often make decisions in a matter of hours or days. These lenders will analyze your business financials and offer a quote without referring to other departments.
Benefits
A business cash advance blursoft is an efficient way to get operating capital without putting your credit rating at risk. You can use the cash to pay off momentary expenses or as part of a larger financing strategy. This type of lending does not require a credit check and carries low interest rates. Unfortunately, not all small businesses can qualify for this type of lending.
A Blursoft business cash advance can be a big help for many types of businesses. They can provide working capital for businesses that are in need of extra cash but do not have the necessary funds. They also offer a variety of services to help business owners achieve their financial goals.
