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Bad Credit Cash Loans Advances

For many business owners with bad credit cash loans are nearly impossible to obtain. Banks simply make it impossible to secure funding. In desperation, many small business owners will seek help from so-called “bad credit cash advances.” At Simply Quick Business Loans, we offer an alternative for business owners that won’t cause you to go under.

Business loans vs. Merchant cash advances for small business

  • Those who are relatively new to business ownership may be unaware of the financial terminology or which option will better suit their needs. Merchant cash advances are when the business receives a lump sum of necessary money to be repaid with a share of the business profits.
  • For example, if a business needed $10,000 to pay employees during a slow season, this money would be repaid by the business forfeiting a percentage of its credit card transactions until the money is repaid.
  • While this method may initially seem like a viable alternative to bad credit cash loans, the truth is that you could be paying upwards of 50 percent interest on the money borrowed. Cash advance companies operate outside loan regulations and are therefore able to collect any interest rate and terms they choose.

How loans differ

Alternatively, because we offer cash loans for small business owners, we must comply with lending regulations. This ultimately protects you from potentially losing a business you worked hard to grow. While our interest rates and terms may be a bit higher than a traditional bank loan, this is only due to the higher risk we incur by accepting lower credit scores.

Standing the test of time

Loans aren’t going anywhere. Unlike unreliable, risky bad credit cash advances, lenders that comply with federal regulations have been around for decades. The newness of the cash advance industry lends itself to many bugs and bad apples that are looking to quickly profit without consideration for the entrepreneurs they claim to help.

For bad credit cash loans you can count on, Simply Quick Business Loans is the only name to trust. Contact our helpful staff and see what we can do for you.