Has anyone had any experience with a business cash advance?
BabyBoyDueAug2409 asked:
I need cash for my business and cannot get approved for a loan. I found www.bankcardfunding.com on google. Does anyone know about this company?
One Response to “Has anyone had any experience with a business cash advance?”
Well to answer your first question… Yes, I've had 2 merchant cash advances with my company. They are very good if you need money now and cannot get a bank loan. What they did was take 20% of my credit card sales until the balance was paid off. So if I made no money one day, they didn't get paid that day (with is another plus).
The down side is that you are going to pay more money than getting a loan, but another plus is that you pay it back much faster. I think my last advance was paid back in 6 months.
As for your second question… Yes, I do know about bankcard funding. I used them both times for my business cash advance and I recommend them.
HTH