Business Cash Advance FAQs

business cash advance faqs

What is a Business Cash Advance (BCA)?

One of the most common Business Cash Advance FAQs is what it is. A Business Cash Advance is designed specifically for businesses to get the needed cash. It provides businesses with cash in exchange for a percentage of future sales. It also offers businesses a way to access the funds they need to support their business growth.

How does a Business Cash Advance work?

Once your business has been approved, you receive a lump sum of cash deposited into your business account. Repayment is made through a small percentage of your daily sales. This is then translated into a fixed daily payment. Then, the percentage or amount is automatically debited from your business account on a regular basis until the advance is fully repaid.

How long does it take to get approved for a Business Cash Advance?

Applying for a business cash advance doesn’t take long at all. After submitting your application and the required documentation, our team will review your information quickly and get back with you. You could receive an approval decision within a few hours. Once approved, funds can typically be deposited into your business account. Typically this is within a few business days, providing quick access to the capital you need.

Do I need to have good credit to qualify for a Business Cash Advance?

While we do consider credit history, we have more flexible credit requirements compared to traditional loans. Rather than just your credit history, we also take into account your business’s overall health, potential, and sales performance. Therefore, businesses with less-than-perfect credit can still have a chance to qualify for a Business Cash Advance.

How much funding can I receive with a BCA with your company?

The amount you can receive with a Business Cash Advance is based on your average monthly sales. Our business cash advances range from $5,000 to $50,000. What you are approved for depends on your business’s financial performance and other factors. To determine the funding amount you need, our team will work closely with you and your business.

Can I use the funds from a Business Cash Advance for any purpose?

You and your business have the option to use your funds on whatever you see fit. Whether you need to hire more staff, invest in your equipment, or manage cash flow during the off-season, you can get the cash you need with a business cash advance.

Is collateral required?

With a Business Cash Advance, we never require any collateral. So, you can rest assured knowing that your assets are safe.

How long does it take to repay a Business Cash Advance?

The repayment period for a Business Cash Advance varies depending on your business and the terms. With a business cash advance from BCA Capital Partners, repayment may range from 3 months to 12 months. This all depends on your business’s sales performance and the terms of the agreement.

Can I apply for another Business Cash Advance after repaying the previous one?

You are able to apply for additional cash advances after repaying their previous advances. If you have a successful repayment history and you are eligible, your business can reapply for a business cash advance again.

How does BCA differ from a traditional loan?

Unlike traditional loans, a BCA is not based only on credit history or collateral. Rather, we focus on your business’s overall health and earning potential. This allows for more flexibility. Repayment is tied to a percentage of your sales for a daily payment. This comes as opposed to fixed monthly installments.

Are there any prepayment penalties or hidden fees?

At Business Cash Advance Capital Partners, we believe in transparency. When you apply for a cash advance with us, our team will clearly explain all associated costs. This includes any fees, upfront, and there are no prepayment penalties. We always want to ensure that you clearly understand the terms and conditions before proceeding with the funding.

How can I apply?

This is one of the most common Business Cash Advance FAQs, yet applying for a BCA is simple. To start, you can go to our online application or contact our team. We will guide you through each step of the way,  and work with you to secure the funding you need.

Still have questions?

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