How to Get Cash Advance for Your Small Business
It’s no secret; banks make it difficult for a small business to access finance. You may be waiting four weeks just to find out that you haven’t been approved for the finance you need. If you’re looking for a small financial injection, it may not even be in a bank’s interest to service you. Luckily there’s a few options you can choose from. One great option is to consider getting a cash advance.
A cash advance loan provides a small business with a short-term source of cash without taking out a long-term loan, or an overdraft with a bank. Getting a cash advance loan is easy today with the help of the team at GRID Finance.
What is a GRID Cash Advance?
A GRID Cash Advance is a short-term finance solution that works with your business and its existing credit/debit card machine. You can access up to €100,000 in advanced cash over a maximum of 18 months. Repayments are made daily as a small percentage of your future card sales until you have repaid the full amount.
Who Can Get a Cash Advance?
Many cash advance providers, GRID included, require you to be trading at least one year before you can apply. Many types of industries or sectors can apply for a cash advance loan. The following are some examples of those who can get a cash advance loan:
- Gastro Pubs
- Professional Services
What Are the Benefits of Getting a Cash Advance?
Getting a cash advance loan means you can have a small injection of cash into your business within a short period of time. The repayments are made daily through your business’s credit/debit card machines. Repayments are also flexible as they work with the natural ebb and flow of your business's trade.
Security is placed on the revenue coming through your credit/debit. Approval only takes a few days, meaning that you could get your finance within a week of applying.