A true business finance loan with a fixed interest rate and term. Interest can be tax deductible. Please consult your accountant for more details.
For a $20,000 business loan, our preferred ACH lender may charge you $21,800 - $24,000 over 6 months for a daily payment ranging from $169 - $186 (typically 50% less expensive than a cash advance).
No need to change credit card processor.
Our preferred ACH lender provides a fixed term loan collected through set daily payments using flexible payment methods.
Our preferred ACH lender reports your payment history to the business credit agencies which can dramatically improve your business credit profile once paid.
Not considered a loan.
For a $20,000 loan, on average for regular applicants cash advances will charge you $27,600 at a rate of 38 cents on the dollar (or even higher) over 6 months* for a daily payment of approximately $214. Rates are more competitive for credit worthy applicants or with repayment track records.
In most cases, merchant must change credit card processor.
Cash advances intercept your credit card receivables at the merchant processor and take a fixed percentage of your daily credit card volume until the advance is paid off.
There are no credit benefits to using a cash advance.