South Florida Business owners, like all others, are no strangers to financial hardship. Every now and then, sales reports see a slight dip in numbers and business owners turn to Fast and Easy Funds for easy cash advances to cover expenses. Business loans for seasonal businesses are especially prevalent during the summer.
Why do Small Business Owners Seek Easy Cash Advances During Seasons of Slow Sales?
Everywhere you look, small business owners are utilizing easy cash advances to sustain themselves. Part of the reason is because traditional bank loans with their high rejection rates and long application processes, have become less attractive to small businesses. This is a driving force in the demand for cash advances and often an easier alternative for entrepreneurs who want loans for seasonal businesses.
Differences Between Cash Advances
Of course, cash advances vary from lender to lender. Some may come in the form of a line of credit rather than a traditional loan. Consequently, not all cash advances are equal. Depending on the lender, you may have a good experience or bad experience. It’s important that wherever you go to acquire your short-term loan, that you go to a lender that’s reputable.
There are some cash advances that you can access simply by going to the ATM and using your credit card, applying online, or talking to your lender. These are typically easier, but charge a significantly higher interest rate. Another is a payday loan, in which an entrepreneur can take an advance on anticipated revenue.
For more information about cash advances and which is best for you, contact a rep at Fast and Easy Funds today.