How do business cash advances differ from business loans?
Business cash advances are based on merchants’ future credit card transactions. Unlike traditional loan programs, a cash advance is totally unsecured (does not require collateral or a personal guarantee). The program is available to dry cleaners with good or bad credit. Because the business cash advance is based on future credit card receivables, a good credit score is not required to be approved. Unlike loans, applying for a business cash advance takes literally minutes and approval is typically done within 24 hours.
