When your business needs money, it needs money – now. There are no if, ands, or buts about it. However, when it comes to financing options, all independent lender’s small business loans are not created equal, and there are subtle but important differences between a Fast and Easy Term Loan and a Fast and Easy Cash Advance. As any good business owner would do for any aspect of the company, it is important to weigh the pros and cons of each lending option and decipher which is the best financing option for your business.
This form of business financing is particularly appealing for companies that have a relatively low credit score, Fast and Easy Funds accepts applicants who have a 550-800 credit score, but still show signs of strong revenue. The funding provider will agree to give you a certain amount of cash up front, and you will have to agree to give a certain percentage of your future receivables.
Unlike a loan, there isn’t a fixed time period for repayment with a cash advance. The amount of time that it takes you to finish paying back the Fast and Easy cash advance can be unforeseeable. There isn’t an interest rate attached to the cash advance loan because it is technically a purchase of future income instead of a loan.
With a Fast and Easy cash advance, once you pay down the loan to half of the original amount, you can repeatedly renew the loan, much like a line of credit, which will provide ongoing working capital for your business and its future needs.
Easy Term Loan.
A Fast and Easy Term loan is another way in which you can access funds for your business’ needs. Since repayment is based on your total sales instead of a provable future income, you can receive more money with this form of funding.
However, the repayment process for an Easy Term Loan is much different from a cash advance. You will be required to repay a fixed amount over set intervals and time period, regardless of your businesses’ receivables.
At Fast and Easy Funds, we offer terms loans that span a period of three to five years, with low monthly payments. We require no collateral and there are no pre-payment penalties. Loans or lines can be subordinated to current bank debt or SBA loan. We can move you through the approval process and have funds to your business in as little as two weeks.
Whatever your business’s financial needs, Fast and Easy Funds has an easily accessible loan for you. Visit us online and fill out an application for same day approval and to receive your funds as soon as possible. We have cash advances, Easy term loans, inventory financing, and numerous other working capital solutions.