Financial Accounting: Getting Funded With a Business Cash Advance

Most small business owners know that it has become increasingly difficult to find funds. Business Week writers Reena Jana and Damian Joseph, recently wrote an article, "So You Want to Get Funded," offering readers insight on the types of small business owners that are securing venture capital funds nowadays. This article was written due to the fact that, according the National Venture Capital Association, "...total venture capital investment for the first quarter of this year was at its lowest in 12 years, down 47% in dollar amounts from the fourth quarter of 2008" (Business Week).

According to the article, VCs are currently funding small businesses in the fields of biotech and medical devices, energy and clean tech, consumer internet, hardware and finance, at the highest rates. This may be good news for those in these sectors; but the reality is a small business owner cannot just switch his/her field in order to get funds.

Doing this would be just about as logical and plausible as lying about one's business and plans in order to receive funds through certain sources. In other words, it just won't work.

The smarter option would be to find a different financing option altogether, one that does not depend on one's business plans. The business cash advance is exactly that type of funding option, because there are no restrictions on how borrowers can use their funds.

There are many types of businesses out there, and the owners of these businesses also need funds. Many owners of retail stores, gyms, hair salons and auto repair shops could use an injection of cash.

When applying for a cash advance, applicants are not required to write out a business plan and explain in detail how they plan to use their funds, as they would have to do if they were applying for other types of business funding.

Business cash advance providers don't have to put restrictions on fund usage, because they use a business's proven track record to determine funding.

A business that processes at least ,500 in monthly credit card sales will very likely be able to support a cash advance. In fact, small business owners may be eligible to receive up to 0,000, depending on the amount of monthly credit card sales that their businesses process.

Small business owners that have received business cash advances have used their money to purchase inventory, to upgrade equipment and to finance renovations and expansions, just to name a few uses.

How you use your business cash advance is up to you.

Source: http://guypluspodcast.blogspot.com/2012/07/getting-funded-with-business-cash.html

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