What is the key to small business success? Some will say it is determination, some may say adequate business financing, and others will still say it is all left up to chance. Whether or not there is a secret ingredient to the recipe for a prosperous small business, one thing is certain; everyone who goes into business for themselves does so with intentions of success.
Unfortunately, ever too often, those good intentions are rendered immobile after suffering a head-on collision with the realities of underestimated expenses, insufficient business financing, and continual bank loan denials due to imperfect credit.
Business Week’s website devotes an entire section to small business success, highlighting small business owners who have overcome obstacles, have unique and interesting stories, or are simply satisfied with the success of their small businesses.
You’ll find the story of a mathematics graduate who tossed his decade-long real-estate career to toss pizzas in a neighborhood pizzeria that he purchased and made his own, the account of a man who made the change from drug addict to the owner of a multi-million dollar company, and insight from various successful entrepreneurs whose parents gave them the advice and inspiration to become who they are today.
So how can you make it to where these business owners are now? What can you do to make your small business dreams come true even in the face of such obstacles as credit scores that constantly prevent you from getting a traditional business loan?
A business cash advance can offer business financing without requiring the borrower to have an excellent credit score. Business cash advances are often referred to as bad credit business loans, due to the abundance of business owners who have been rejected for traditional business loans, but can still qualify for business cash advances.
Your business’ credit card sales are fully responsible for the repayment of a business cash advance. Therefore, whenever customers make credit card purchase at your business, a predetermined percentage of that sale goes towards the repayment of your cash advance, allowing your cash advance payments to vary according to your sales. Many business cash advance borrowers find this convenient, since (especially with fairly new businesses) it is difficult to predict how much money will be made in a given month. This type of repayment system does not inflict the stress that fixed monthly loan payments can produce.
Even if it may take a while before you can raise your credit score to where you want it to be, you don’t have to throw your dreams of small business success out of the window simply because you can not get approved for a traditional business loan. Take another shot at success with a business cash advance.
