Small Business loans
Loans for small businesses are an essential financial instrument available for small business owners in the USA. mCashAdvance™ funds small businesses up to $900,000. We can approve business loans online within 24 hours. Apply now; no obligations, no collateral and no impact on your credit score.
mCashAdvance™ Small Business Loans at a Glance
- What they are – Small Business loans for business owners in the USA
- Who they are for – Business Owners with existing revenue
- Amount – up to $900,000
- Duration – Payback in 3-36 months
- Approval Rate – High, based on existing business revenue
- How to Apply – Click on “check eligibility” below
- Requirements – Most recent bank statements. (3 months)
- Good to Know – We have already funded over 40,000 businesses
What is a small business loan?
The term ‘small business loans’ describes a financial product that a business loan lender like mCashAdvance™ provides to business owners to cover the costs of starting or running their businesses. Like other types of credit (like SBA loans or a line of credit) this type of loan creates a debt, which you’ll need to repay along with interest charges.
mCashAdvance™ offers an small business funding. Click apply for funding to get started.
What Does mCashAdvance™ Look For?
At mCashAdvance™, we believe small business owners should spend their time helping their businesses succeed rather than seeking financing. So we’ve made a quick guide listing the most basic small business lending requirements to help you decide whether you qualify for a small business loan.
1
Time in business
MCashAdvance™ and other lenders will need to see that your business has been in operation for at least two years.
2
Personal Credit Score
While this is a loan for your business, mCashAdvance™ will still pull your personal credit score to ensure you meet our standard requirement of a minimum score of 600.
3
Business credit score
In addition to your personal credit score, mCashAdvance™ will use your business credit score to evaluate your loan application and may also require a minimum credit score in this area.
4
Annual business revenue and profit
mCashAdvance™ will ask you to provide your profit and loss statements as part of your application to evaluate the health of your business and the amount of funding you may be eligible for.
5
Loan purpose
Most lenders will require a statement describing how you plan to use the loan. You might state you plan to use the funds as a working capital loan or for equipment financing or as a business line of credit. Make sure that the amount you request makes sense in light of the intended purpose.
6
Potential Collateral
Some lenders may ask for a fixed asset like property or equipment for you to put up as security for the lender in case you are unable to repay the loan.
Remember: Small business loan requirements will always vary from lender to lender, but the more boxes you tick, the easier it will be to qualify for a business loan with mCashAdvance™. Your circumstances will also affect the loan terms you’re offered.
For instance, you can expect to pay higher interest rates with a bad credit business loan. Poor credit doesn’t necessarily mean you won’t get financing, however. The only way you can find out your options for sure is to apply.
How do business loans work?
Once you get approved for a mCashAdvance™ small business loan, you’ll receive an agreed-upon sum of money all at once that you’ll pay off with interest, over time. mCashAdvance™ small business funding can range from $5,000 to $900,000, with repayment term lengths up to 18 months.
Making these monthly repayments and having to pay interest can put a strain on small businesses’ cash flow. Therefore, you may want to consider an alternative like merchant cash advances, where you only repay a percentage of your sales. So on a day when you make fewer sales, your repayment will be smaller, too. This credit option from mCashAdvance™ can help your business stay afloat without you constantly worrying about how you will make your loan repayment this month if you don’t do enough business.
| Small Business Loans | mCashAdvance’s Cash Advances | |
|---|---|---|
| Repayment terms | 1-5 years | Repay a % of your sales until the advance is paid off. |
| Interest rates | 7% – 100% | We don’t have any, because cash advances aren’t loans! |
| Early repayment fees | It depends on your lender | No, you can always repay early and save on interest. |
| Bad credit accepted | No | Yes |
| Same day funding | No | Yes |
How to get a small business loan
Getting business funding in the past, especially for small businesses, was an exhausting and time consuming process. At best, you hoped that the bank would approve your application in the end.
Today, things are different. mCashAdvance™ wants to provide a number of loan options and make getting small business funding simple, convenient, and fast. It’s much easier to get a small business loan without collateral from us. Want to know how to increase your chances of success? We’ve put together a business loan application cheat sheet for you:
1
First, sit down and calculate how much money your business needs. Be realistic. You don’t want to borrow more than you need, but you don’t want to wind up short, either.
2
Research different types of small business financing from mCashAdvance™ and others and decide which financing options fit your business requirements best.
3
Check your personal and business credit history. You can get this from any credit rating agency. Remember, even with a bad personal credit score, you may be able to get funding. It never hurts to apply.
4
Make sure you have all the documents you may need handy, like balance sheets, bank statements, and end-of-year tax reports.
5
Compare business lenders to get the best deal. Check with both online lenders and traditional sources of business credit.
6
Apply for a small business loan with your chosen lender. Make sure their website uses bank-grade encryption and SSL technology, so you know your information is safe. (mCashAdvance™ takes your online safety seriously and uses the latest tools to safeguard your data.)
7
Get notification of whether you have been approved or declined. Once you have been approved you may be asked for further information about your application. You should receive a final lending decision shortly thereafter.
8
Get funded. Once you have been approved, most lenders will transfer the money to your business bank account in as little as 24 hours.
We say YES when traditional lenders say NO
Does your business need that extra boost to help it grow into a profitable enterprise? You’ve come to the right place. With business financing from mCashAdvance™, you have an alternative to a traditional business loan. One of the best features is that your payments come out of your revenues instead of out of your pocket, so you won’t have to worry about not having cash on hand to make your payments.
Small businesses in the U.S. borrow over $600 billion each year to help build and grow their enterprises. At mCashAdvance™ we make the process as easy as possible. With a quick application, you can soon get the funding you need to help your business thrive.
Getting the Best Small Business Loan for Your Business
At mCashAdvance™, we know finding the most suitable loan for your business is essential. We put together a comprehensive list of small business loan types to help small business owners find the best financing for their businesses.
Short Term Business Loans
Unsecured Business Loans
Working Capital Loans
Invoice Financing
Inventory Loans
Business Equipment Loans
Small business loan FAQ’S
A small business is generally defined as a business with a maximum of 500 employees. But this will depend a lot on your industry. But you don’t need to worry about the exact number. At mCashAdvance™, we are happy to work with businesses of all sizes.
Business loans for women are designed to help female entrepreneurs build up their enterprises since women are generally underrepresented in the business world. This type of business funding is offered on both a secured and unsecured basis. Follow the link to read about programs offered by the Small Business Administration.
mCashAdvance™ welcomes the opportunity to help women entrepreneurs achieve their business dreams. Get in touch to find out about your options.
Loans from traditional lenders, such as banks or credit unions, can have annual percentage rates (APRs) ranging from 4% to 13%, while alternative business loan lenders can have APRs ranging from 7% to over 100%. The rates you are charged by mCashAdvance™ and others will depend a lot on whether you have a good or bad credit score, length of time in business, and the amount you want to borrow. Bad credit business loans will always have higher rates than those for borrowers with good credit.
If you need quick financing because of stalled cash flow in your business or to meet sudden demand, there are lenders who will provide emergency business loans. This usually means a faster lending decision and sometimes same day payout of your funds. Talk to one of our representatives at mCashAdvance™ to find out about your options.
Note: Instant business loans don’t exist.
Did you know that veterans own over 10% of businesses in the US? Here at mCashAdvance™ we understand that veteran-owned businesses are a vital part of the economy and work hard to help veterans find funding solutions.
There are many financing options available for veteran business owners, including: VA business loans, Small Business Administration loans (also known as SBA loans), and traditional business financing. At mCashAdvance™, we support veteran business owners with our high acceptance financing options. Fill out our seamless application form to begin the approval process and the money can be in your account as soon as the same day.
There are seven main types of business funding: SBA loans, a business line of credit, invoice factoring or financing, business term loans, a working capital loan or equipment financing. mCashAdvance™ offers many of these types of financing. You should look into each type of loan to see which kind of business funding best meets your needs.
The difference between a secured and unsecured business loan comes down to one thing: Collateral. When you take out a secured business loan or secured personal loans, the lender is backed by collateral. That means they have a right to seize whatever property is used for collateral in case the borrower is unable to repay the loan. On the other hand, unsecured business loans do not require the borrower to provide any collateral. No collateral business loans are designed to help entrepreneurs get quick access to business funding without risking their business assets or personal assets as collateral. If you’re a business owner, unsecured small business financing from mCashAdvance™ is a great way for you to secure the money you need without risking your assets.
However healthy your business finances may be, when you’re growing or expanding your enterprise you might need to spend more than you have on hand. Whether this means expanding to new premises, upgrading your equipment, or hiring more staff, short-term business funding could be just what you need to bridge that gap and set your enterprise up for long-term growth. If you want to maximize your sales in peak season, and you know that the revenue will follow, taking out a short-term small business loan or a working capital loan from mCashAdvance™ can help you maximize your opportunities.
Compared to traditional bank loans, the main benefit of getting a small business loan online from a company like mCashAdvance™ is the speed of processing your application and receiving funds in your business bank account. The whole process — from investigating lenders and loan types to applying to getting approval — can be done from your computer. This type of funding can enable small business owners to manage their businesses’ financial needs quickly and efficiently.
You may find it challenging to get small business loans as the coronavirus pandemic continues to make waves across the United States. However, mCashAdvance™ is continuing to offer small business loans, even to those businesses affected by Covid-19. You can apply today and if approved, get the funds within 24 hours.
Industry-Specific Business Loans
mCashAdvance™ serves a variety of industries nationwide. Many of our financial products are tailored to benefit a specific sector. You can see some examples below or click here to see the complete list of industries we finance.
Funding Your Business Is Our Business
Small business financing that you can trust!
The most significant advantage of cash advance terms over business loan terms is that the repayments fluctuate according to your income. This means that your repayments are always in proportion to your monthly sales. Meanwhile, business loan repayments are fixed and rigid. If business is slow for one month, you’ll still need to make the fixed repayment, regardless of your income.
Not sure which product is more affordable? You can click on apply for funding and we will advise you after you complete the application form.
Don’t Allow a Lack of Funding
to Hold your Business Back
It’s Time To Move Your Business Forward!