Business cash advances are a fast and easy way for business owners to get the funds needed for their companies. Business cash advances are not loans. Funds from a business cash advance are drawn against Visa or Mastercard merchant account receipts.

Business Cash Advances are different from business loans in that they do not require a lengthy and comprehensive review of business financials and credit history. There are two general criteria that each business must meet to qualify: (1) business must accept credit cards as payment for goods or services and (2) business must process a minimum amount (varies by institution offering business cash advance) in Visa or Mastercard sales. Consider the following tips to get the cash you need fast:

1. Consult with financial institutions about the lending process.

2. Explore benefits of business cash advances.

3. Find an institution willing to give you a business cash advance.

Action Steps
The best contacts and resources to help you get it done

Assess your eligibility for a business cash advance

The business cash advance is an unsecured advance paid off by an agreement to sell the lending institution a fixed percentage of future credit card sales. The financial institution then obtains payments through an automated process until the business cash advance is paid off. In addition, many providers of business cash advances will want to confirm that you have an 'established' business - which is defined differently by each provider.

I recommend: Global Cash Direct provides business owners with business cash advances and has an online customer service representative available 24/7 to provide financial assistance. AmeriMerchant Capital Solutions is a leading Internet provider of business cash advances and has an approval rate of 90%.

Get funds fast with business cash advances

For business cash advances, many financial institutions will not require a personal guarantee, financial reports or credit review. Therefore, in most cases, you can have the funds from a business cash advance within 7-10 days. Additionally, because funds received from a cash advance are not considered a loan, your credit file will not be affected.

I recommend: FastUpfront offers approval for small business cash advances up to $250,000 within 24 hours. Merit Capital Advance provides business cash advances to most companies that have a minimum average of more than $5,000 in credit card receipts monthly.

Obtain a business cash advance

You can obtain a cash advance for a variety of business activities including equipment purchases, advertising, office renovations and expansion. There are a broad range of financial institutions offering business cash advances to small and mid-sized businesses.

I recommend: Rapid Advance specializes in providing business cash advances to small businesses and offers free online applications. AdvanceMe specializes in providing working capital to small businesses through fast and easy business cash advances for most companies processing a minimum of $5,000 in credit card sales.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Be sure to closely review the terms and maximum advance amounts before choosing an institution from which to obtain a business cash advance.