High Risk Business Loans

What is a high risk business?

Typically, any business that has a dependency on various external factors for its success is considered a high-risk business. Take the example of a restaurant for the sake of this discussion.

Not only is a restaurant business extremely complicated to run, but a lot of its success depends on an efficient ongoing management. If you have one bad customer review, it may affect your future sales for many weeks. One vendor falters with the quality of supplies and your product quality becomes questionable.

Biggest challenges that a high risk business faces

Continuous investments are required to grow your business, that may or may not be available in your cash-flow from the business. A traditional business loan is very difficult to be approved for in these tough economic times anyways, problems multiply for a high risk business.

More and more banks are saying no to business loans, citing high risk and lack of longevity in a business as the reasons. This even occurs in businesses that have had established success over many years.

Poor Credit adds up to problems

Another reason for a business to be considered high risk is poor credit of the owner. Just a few years ago, mediocre credit could still get you a loan, even though it would be a higher interest loan. However, banks will not look at a company unless an owner has perfect credit, collateral and a well-established business, which leaves many smaller and less established businesses with fewer options.

So where do owners of a high risk business turn for funding or a loan?

There are several high-risk business loan options available now that allow small and medium sized businesses to get the money that they need to expand, hire employees, redecorate, pay taxes, and pay off debt or whatever else is necessary for the business. One of such options high-risk business loan option is called a business cash advance.

What are the requirements for a Business Cash Advance?

Business Cash advance is based on the credit card sales of your business over the past few months. Many cash advance companies require that the credit card sales equal at least $5000 a month, but that minimum may vary. Companies that normally cannot get a loan because they are considered high risk, such as restaurants or individuals with poor credit, can qualify for a cash advance based on their credit card sales. The higher the monthly credit card sales the larger the loan amount will be.

How does repayment on a high risk business loan work?

Repayment is established through the credit card sales. Rather than a specific monthly payment, a percentage of your credit card sales are used to make payments on your cash advance.

Does it take long to get approved?

Our high-risk business loan option allows you to receive pre-qualification for your loan in as little as 24 hours. This means that you will know in one day whether or not you qualify for a cash advance and how much you may qualify for.

What are the qualifying criteria?

You can be pre-qualified with our partners with established credit card sales of as little as $2500 a month and should be running your business for a year or more.

Once you have qualified for our high-risk business loan, you will receive your funding in 10 business days or less.

Better alternative to a Business loan from banks

Unlike a traditional bank loan, which requires a lot of paperwork, interviews throughout the long approval process, low chance of approval, using your home or your business as collateral and has fixed monthly payments that won't vary no matter how your business is doing, a cash advance high risk business loan option is quick and easy and does not require past tax returns or past financial statements. You only need proof of established credit card payments.

In addition, unlike a traditional bank loan, you are not restriced on the nature of your purchases made with your cash advance. If you need new computers, to change locations, purchase new inventory, buy new equipment, pave your parking lot and more, you will have the freedom to use your money the way that you want and need to.

What's more, because you pay based on your credit card sales, if you have a bad month you will not be adding to your burden by making a fixed monthly payment on the cash advance. Instead, the pre-determined percentage is all the payment you will make.

Go on, take charge of your business

Do not allow your past credit history or the high-risk nature of your business prevent you from growing and expanding like you should. Using a cash advance high-risk business loan will ensure that you have the money that you need to help your business grow and succeed.