Does your business alternate between slow periods and times when business is booming? Lots of business owners have that in common. You need a business funding product to help you through those slow periods or to expand your business. However, the slow periods themselves make it tough to pay your business loans back. If you pay back the same amount every month, then you could seriously interrupt your cash flow. Furthermore, you may not have the credit score and collateral that you’d need for a more traditional business loan.
If this situation describes your business, then what should you do? These days, more and more business owners overcome these issues by getting a business loan on their credit card sales. A business loan against your credit card sales works a lot like a traditional loan. The biggest difference, though, is how you pay the funding amount back. With a business loan on credit card sales, your payments come directly from a portion of those card-based sales. Interested? Read on to learn more.
Compared to other loan types
|Loan types||Max Amounts||Rates||Speed|
|Merchant Cash Advance||$7.5k – $1m||Starting at 1.09||1-2 business days|
|SBA Loan||$50k-$10m||Starting at 5%||3-5 weeks|
|Business Term Loan||$10k to $5m||Starting at 5%||1-3 business days|
|Business Line of Credit||$10k to $250k||Starting at 8%||1-3 business days|
|Receivables/Invoice Factoring||$50k-$10m||Starting at 5.8%||1-2 weeks|
|Equipment Financing||Up to $5m per piece||Starting at 5%||3-10 business days|
|Revenue Based Business Loans||$10K – $5m||Starting at 9%||1-3 business days|
United Capital Source Can Fund Your Credit Cards Sales
Ready to start a partnership? Then talk to us about credit card processing loans today. You can call us for your free consultation, or you can go ahead and start your application online now.