Updated: Mar 28, 2020
FINANCING BASED ON BUSINESS HISTORY AND NOT YOUR CREDIT SCORE!
Revenue-Based Financing is a financing transaction where a business sells a certain percentage of sales over a certain period of time, in exchange for up-front capital.
With Revenue Based Financing, a business can secure as much as $2 Million in funding in as little as 72 hours with minimum paperwork, no collateral, and with owner’s credit history not considered whatsoever.
Revenue-Based Financing is technically NOT a “business loan” because standard business loans have a fixed repayment plan with a set interest rate, so the loan payment is the same every month. However, Revenue-Based Financing is an agreement to purchase a portion of a business' future sales at a discount in exchange for up-front working capital.
The lender recovers their money by taking a percentage of each month's sales revenues, so the amount paid back is greater in months where sales are higher and lower in months where sales lower, thereby giving businesses the flexibility needed in down times.
Merchant Cash Advances –
Historically, Merchant Cash Advances (MCA) have been for businesses whose revenue comes mainly from credit and debit card sales, like restaurants, clubs and retail shops. However, that’s all changed. Today, MCAs are readily available to other businesses that don’t rely mainly on credit card or debit card sales, regardless of their payment gateway channels.
Quick & Easy. MCAs fund in days – not weeks with very little paperwork. The business’s daily credit card/debit card receipts are used to determine the owner’s ability to repay the money.
You Won’t Lose Your Home. MCAs are unsecured, so you don’t need any collateral, like having to put-up your home as security. This means you don’t have to forfeit any of your personal or business assets if your sales plunge and you aren’t able to repay the money. This is what’s called “non-recourse” financing.
When Sales Are Down, Your Payment Goes Down Too.Since the repayment schedule is based on a fixed percentage of your current sales, the payments adjust based on how well your business is doing. Having a variable payment structure is especially great for merchants with seasonal businesses where sales tend to fluctuate greatly from month-to-month or season-to-season and are somewhat difficult to predict.
This money can be used for things like purchasing inventory at a substantial discount, buying new equipment, remodeling, business expansion, opening new locations, etc.
This article was brought to you by Mr. Randall Farr, who is a published author, business trainer, and renound motivational public speaker.
Business Owners Bonus: Receive a FREE copy of the Best Selling Business Book, entitled: "Avoiding The 20-Biggest (Most Costly) Business Mistakes" https://www.BBBcommercial.com
How-to Get The Very Best Business Financing
One of the big keys to getting business financing is how you "package" your loan request.
"Loan Packaging" can be especially tricky for someone who doesn't have banking/finance expertise, which pretty much describes most aspiring entrepreneurs, doesn't it?
You may have great ideas about starting a new business (or running your current business), and know exactly how to perform the necessary functions involved with that business, but since your expertise in that field of work, and not in banking, you really don't know what bankers/lenders are looking for when determining whether or not to loan money to someone for their existing business or a start-up enterprise, do you?
And, that's why over 50% of all business loan requests don't make it into loan committee. Therefore, to be successful, its important that you seek out a financing professional to help you through the tedious process of successfully securing business financing. In other words, if you want to succeed you need to have an expert "in your corner" to advise and guide you.
So, it only makes sense to find someone with a lot of real-world banking/lending experience who not only knows how to properly package your loan request, but also knows which investors specialize in lending to your line of business, thereby ensuring you get financed.
It's important for you to know that most lenders prefer lending to certain types of business, such as trucking/logistics, manufacturing, bars & restaurants, hair salons/barber shops, retail clothing stores, coffee shops, grocery & convenience stores, gas stations, hotels, etc.
So, find someone who's got it all... the lending experience, packaging expertise, and the specialized lenders to make sure you get the financing you need without any delays.
If you want to work with a well-established commercial financing company, a company which is honest & reputable, you'll want to work with BBB Commercial Financing LLC, located in New York City, providing business financing in all 50 states (except Arizona).
If you work with BBB Commercial Financing, you'll most likely be very pleased with your experience and results. That's because, you'll get to work with Mr. Randall Farr, who's the Managing Director at BBB Commercial Financing; a true business financing professional.
Mr. Farr is an industry leader with a solid reputation as a financing expert who can be counted on for honest answers & quick results. Randall has been in the banking/lending for more than 35-years, and actively networks with a multitude of other legal, financial, real estate and affiliated professionals, so he really knows how-to get your business financed.
Randall Farr is a Business / Commercial Real Estate Financing Expert who serves as the Chairman of BBB's Loan Committee. With his years of experience as a Commercial Credit Analyst and Sr. Business Underwriter Mr. Farr oversees BBB's entire lending process .
Randall reviews the underwriting and approval process of all new business loan requests and commercial real estate loan investment opportunities, having the final-say over which loans are funded through BBB Commercial Financing, so you'll definitely want to talk with him.
For more info, and to speak directly w/ Randall Farr, call BBB's office at (718) 571-9980. https://www.BBBcommercial.com
Go to BBB's website to receive a FREE copy of the Best Selling Business Book, entitled: "Avoiding The 20-Biggest (Most Costly) Business Mistakes" https://www.BBBcommercial.com