To quote an example, beauty salons are considered under one of the "high-risk" business categories, something banks are shying away from more than ever
So where can women entrepreneurs find loans for their small business? Credit card cash advances can provide that much needed cash for day to day operations and growth. Unlike small business loans operated by banks, that dictate how the money can be spent, there are no restrictions attached to a credit card cash advance, making it the best alternative to secured or unsecured bank loans.
Say goodbye to monthly payments Since this loan operates as a cash advance, there is no fixed monthly repayment. You choose the duration within which you wish to repay, support it with your past sales history and a small percentage will be deducted from your merchant account sales towards repayment. You don't even have to change your payment services provider as our lending partners work with most financial institutions that process credit card payments.
Even women applicants with bad credit can usually be approved because the advance is approved based on credit card sales of your business, not the owner’s personal credit history.
Repayment of a credit card cash advance is tied to the daily credit card sales; a percentage of these sales are directed toward repaying the advance. Payments are automatic and begin as soon as the advance is funded, which means there are no set-in-stone monthly payments to stress.
Quick cash needs of your small business - any needs! Yes, that's right. Whatever your needs are, business cash advance financing can be used to fulfill them. You can use a cash advance for purchasing new equipment, buying more inventory, remodeling your office/store, hiring more staff, paying off your debt or for any other legitimate business use
Fill out our easy, online application that takes less than a minute and you could be pre-qualified in twenty four hours, and have your money in as little as ten days. There has never been a better option for small business financing for women.
So what is the qualifying criteria, exactly, for a small business loan for women? If your business has been operational for a year, and you have at least $2500 per month in credit card sales, you may qualify for an advance.