What is the Difference Between a Business Cash Advance and a Business Loan
As a small business owner, you are constantly concerned about the difference between a hard working employee and a slacker or a profitable month versus a slow sales cycle. Nevertheless, you may not often think about the difference between a business cash advance and a business loan.
When you need cash to make payroll or grow your business, you want to find the most favorable terms and you have to do so quickly. Therefore, it is vital to know the difference between a business cash advance and a business loan.
Is There Really a Difference between a Business Cash Advance and a Business Loan?
The type of fast business financing you choose can often mean the difference between having just enough to get by and running a thriving operation. It is important to have all the facts so you can make the selection that is right for the unique needs of your business.
• A cash advance is for a short time period. It is not typically used for long term initiatives. A business loan usually has a lengthy repayment schedule that can take up to 10 years to completely pay off.
• A business cash advance is unsecured, which means that you don’t have to pledge any assets. A business loan from a bank requires that you have enough collateral to cover the cost of the loan and if you do not have this, you will likely be denied.
• The application approval process for a cash advance is super quick. To get a business loan, there are mountains of paperwork that could take you several days to fill out and banks often make you wait more than a month for a decision.
Where to Go for a Business Cash Advance
If you have decided that a business cash advance is right for you, your best choice is to contact Financing Solutions (www.fundmypayroll.com). They are accredited by the Better Business Bureau and work with all kinds of businesses to provide instant business funding.
With Financing Solutions, you can get started with just a 15 minute phone interview. If you have been in business for at least two years and have more than 350,000 dollars in sales, you may be eligible for quick business financing. Also, they allow you to repay the money in a few short weeks or months. You can do this when your cash flow situation improves.
The Differences between a Good Business and a Great Business
There are plenty of good businesses in this country, but only a small few can be called great businesses. Fortunately, every business can make improvements to get better and get closer to being great.
One factor that makes a great business is having that extra something which sets it apart from the competition. This could include amazing customer service, or a strong commitment to helping under-served populations. It could also simply be creating the right product at the right time.
Another aspect of exceptional companies is leadership. The best businesses have dynamic, intuitive leaders who have a solid vision. These bosses foster a spirit of cooperation, pride and autonomy among their employees.
Perhaps the biggest distinction between average and extraordinary companies is the ability to obtain quick business funding for growth and success. Contact Financing Solutions today to transform your business from good to great.