What is Equipment Financing?
Our cash advance working capital loan is a form of business financing in which a lump-sum of funding is given to a business in exchange for an agreed-upon percentage of future revenues or credit card sales. Working capital loans come in various forms and often have shorter durations and smaller remittance amounts than business term loans, making them ideal for small business owners who need flexible options to satisfy their funding due to fluctuating revenue.
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Put simply, we provide a lump sum amount of cash based on an anticipated amount of credit card/debit card sales from your business operations.The purpose of a merchant cash advance is to accelerate the business owner’s cash flow, allowing the capacity to take quick advantage of upcoming growth opportunities.
Secure Financing For Your Business
Businesses who accept credit card payments and are in need of quick capital are ideal candidates. Remember, aside from being simple and have a much easier application process, a merchant cash advance provides flexibility with variable payments based on business receivables. If your business has high credit card sales, revenue receivables, or is seasonal, then a merchant cash advance might be ideal for you.
Loan Amount From $5,000 - $500,000
Avg. Term Length
3 - 60 Months
No Collateral Requirements
No Application Fees
Equipment Financing Details
Qualifying Criteria:
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670+ personal credit score (for startups)
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580+ personal credit score (for 2+ years in business)
Required Items:
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Signed one page funding application
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3-5 most recent business bank statements
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Business tax returns (not all cases)
Advantages:
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Allows you to access equipment you could otherwise not afford, and it generally carries lower monthly payments than many other flexible financing options.
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The equipment is often collateralized, making it easier to qualify for than most unsecured financing options. In other words, you do not need as strong of a credit score or annual revenue to qualify.
Disadvantages:
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Buying the equipment outright will always be less expensive than financing it and equipment that needs to be replaced frequently may cause large amounts of debt.
Why Choose Us?
At Business Funding Solutions Group, we prioritize your business in a way that traditional banks and other alternative lenders often don't. Your success is our top priority, which is why we ensure you won't be over-leveraged with more funding than you can manage. Our straightforward application and fast approval process make obtaining the working capital your business needs easy. Additionally, our experienced funding consultants will support you at every step.