Merchant cash advances are gaining popularity with small business owners because they have loose eligibility requirements and provide immediate working capital. There are many merchant cash advance providers, and 1st Merchant Funding has been at it since 2007.
However, the funder might not be the right fit for every small business owner.
Small business owners looking for fast working capital may want to consider 1West Finance. The lending marketplace offers various small business loan options through its network of lenders.
Merchant cash advances (MCAs) are gaining popularity because they’re easy to obtain and provide quick funding. As a result, many MCA funders, like Accord Business Funding (ABF), are available.
However, merchants cannot apply directly to the funder. Its product is only available through its network of Independent Sales Organizations (ISOs). Small business owners interested in an ABF MCA can try contacting the company for a list of partners. You can also work with a merchant cash advance provider that accepts direct applications.
AdvancePoint Capital is a business loan marketplace that connects businesses with various lenders to help them secure funding. This service is not a direct lender, meaning it does not provide loans itself. Instead, it helps business owners find suitable financing options from multiple sources.
Founded in 2012, AdvancePoint Capital has supported many companies across the country. The company has helped over 7,500 small business customers access over $375 million in capital.
Tech giant Amazon has recently expanded its massive product offerings to include Amazon Lending for third-party sellers that use the eCommerce platform. The invite-only small business lending program could help some sellers grow and expand their Amazon business.
If your small business accepts American Express credit cards and performs consistent debit and credit transactions, American Express Merchant Financing could be an advantageous way to grow your business. This short-term financing option closely resembles a traditional merchant cash advance. However, there are several notable differences, especially regarding requirements and repayment systems.
Note: American Express is not taking new merchant financing applications at this time.
Businesses that sell on credit sometimes experience a cash flow gap when waiting on customer payment. Cash flow is the lifeblood of a business, and interruptions can derail operations.
Some small business owners turn to invoice factoring to convert unpaid invoices into immediate working capital. AmeriFactors is an invoice factoring company with over three decades of experience in providing fast cash flow.
Acquiring needed equipment is often one of the most essential but costly expenses for businesses. Companies like Amur Equipment Finance seek to help businesses get the necessary equipment on credit.
The company offers an Equipment Finance Agreement and several lease options. However, it might not be the right fit for every small business equipment need. Amounts only go up to $350k, and it doesn’t publish interest rate ranges.
Anchor Loans is a prominent fix-and-flip hard money lender in the real estate industry. It is known for its strong relationships with builders and investors. One key advantage of choosing Anchor Loans is their ability to provide fast closing times, which can be crucial in real estate transactions.
This means borrowers can secure the necessary real estate financing quickly, allowing them to proceed with their property investments without unnecessary delays. Anchor Loans’ favorable terms make it an attractive option for individuals seeking reliable funding for their fix-and-flip projects.
Small businesses often need funding help to scale and grow. But traditional lenders like commercial banks have strict qualifications and take a long time to fund..
Fintech lenders like Backd offer an alternative to traditional financing. Business owners can access working capital at much lower qualifications within a few business days.
However, Backd might not be the right fit for every small business. While its borrowing amounts are high, it only offers two funding products.
As one of the most established small business finance lenders in the United States, Balboa Capital considers funding businesses with all risk levels, unlike traditional lenders. The catch, though, the more risk at stake, the higher the loan interest rate is.
Better Business Funding (BBF) is a financing company that provides accessible funding solutions for small businesses across the United States and Canada. The company specializes in quick approvals, fast funding, and personalized service, making it a compelling option for business owners who face challenges securing traditional loans.
Small business owners can access working capital loans, business lines of credit, and equipment financing through the platform. BBF’s website also mentions merchant cash advances but doesn’t provide details on that program.
Founded in 2016 and headquartered in New York City, New York, Better Mortgage is an online mortgage lender that uses artificial intelligence to simplify and accelerate the mortgage application process. The company’s mission is to make homeownership more affordable and accessible by eliminating unnecessary fees and human friction points from the traditional mortgage industry.
Better Mortgage operates as a direct online lender without physical branch locations. Instead, all applications, verifications, and closings occur online through the company’s secure digital platform. This model allows Better to offer competitive pricing and a fast online process.
Small business owners have various lender options thanks to online and non-bank lenders like BHG Money (powered by BHG Financial). While it’s mostly known for personal loan offerings, some business owners may be interested in BHG Money business loans. However, the lender might not suit all businesses, as it has limited loan amounts. In addition, some business owners may prefer lenders that focus exclusively on commercial loans.
Big Think Capital is a small business loan marketplace that connects applicants with a network of lenders. The company launched in 2017 and is headquartered in New York, with an additional office in Florida. Since its founding, Big Think Capital has served small businesses nationwide, helping over 25,000 clients secure more than $1 billion in business financing.
Big Think Capital provides funding that can be used for advertising, equipment, or new hires. You can receive funding from Big Think Capital in as little as 24 hours after applying. Business loans can be challenging to qualify for due to strict lending requirements, but Big Think Capital has more generous requirements than many lenders, making capital loans more accessible.
Bitty Advance is a newer company but already a leader in the Merchant Cash Advance (MCA) sector, offering financial support to numerous entrepreneurs across the United States. MCAs involve an agreement where a business owner receives an immediate cash advance for a portion of their future business revenue.
This financing option is widely utilized by various small businesses, such as restaurants, trucking companies, medical practices, construction firms, consulting agencies, healthcare providers, childcare centers, etc. It provides a flexible and accessible funding source for businesses looking to meet their financial needs and support growth initiatives.
Biz2Credit is an alternative lending marketplace that provides several loan offerings to meet your small business needs. In particular, the company specializes in commercial real estate loans.
Bizlender is an online business loan marketplace that helps small business owners access funding quickly and efficiently. The company uses a proprietary technology platform to connect applicants with a network of funders, providing tailored financing solutions for various business needs. The company’s financing professionals state they will leave no stone unturned to find funding solutions.
Established with a focus on simplicity and speed, Bizlender offers a range of loan products, including merchant cash advances, lines of credit, business term loans, equipment financing, and working capital loans. Its mission is to empower business owners by providing access to capital with minimal hassle.
Few online business lenders are as highly regarded as Bluevine. If you were to research their products, you’d quickly be greeted by many glowing reviews, and for a good reason. For starters, Bluevine offers virtually all of the advantages you’d expect from a reputable online business lender. Their products are easily accessible for younger, smaller businesses, especially those with subpar personal credit. Even Bluevine’s fee policies are considered optimal compared to the rest of the industry.
Lending marketplaces like BoeFly try to solve that challenge by connecting borrowers directly to the lenders that best match their needs. But it might not be the right fit for every business or funding need.
Use our simple online application to submit a request for business funding. If you need any help along the way, just give us a call, chat or email.
An expert, knowledgeable account executive will walk you through all the fine details and the requirements. This is to ensure you have all the info you need.
Once your funding has been approved & closed, the lender sends the funds to your account so you can start using it to grow your business.
