{"id":4584,"date":"2016-02-23T16:30:40","date_gmt":"2016-02-23T16:30:40","guid":{"rendered":"https:\/\/www.arffinancial.com\/development\/?p=4584"},"modified":"2023-11-06T17:13:44","modified_gmt":"2023-11-06T22:13:44","slug":"alternative-business-loans","status":"publish","type":"post","link":"https:\/\/www.arffinancial.com\/development\/alternative-business-loans\/","title":{"rendered":"4 Alternative Business Loans You May Qualify For"},"content":{"rendered":"

When your small business needs a quick influx of cash, an alternative lender may be your best choice.<\/p>\n

Online lending sites and other non-traditional lenders\u00a0offer an approval rate much higher than that of banks\u00a0and availability is increasing. If your business could use a little help, check out your options for alternative business loans<\/a>.<\/p>\n

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Micro Loans<\/h2>\n

So called because they start around $1,000 and rarely go over $50,000, micro loans give your business just enough money to cover immediate expenses for small purchases, inventory updates or minimal renovations.<\/p>\n

Merchant Cash Advance<\/h2>\n

You can borrow against future sales instead with a merchant cash advance. These loans are structured to give you money up front and take a percentage of every credit card sale you make after that until the loan is paid off.<\/p>\n

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Merchant cash advances <\/a>are easy to qualify for. However, interest rates are often predatory, and the required payments take away a portion of your profits until you pay off the advance.<\/p>\n

Factoring<\/h2>\n

You might not always be able to wait for customers to pay outstanding invoices before you need the money that they owe you. In these circumstances, you can sell your receivables to another party called a factor.<\/p>\n

These “factors” immediately provide you with 70 to 90 percent of what you\u2019re owed. Unfortunately the financing costs of factoring can easily exceed 20% of the value of your receivables.<\/p>\n

Working Capital Loan<\/h2>\n

A Working Capital Loan<\/a> through ARF Financial can be taken out to cover any number of small business expenses from purchasing new equipment, to financing a renovation or simply stabilizing cash flow. It’s also a great option for franchise owners who want to open a new location or need to meet upgrade requirements.<\/p>\n

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ARF Financial is not a factoring company or a cash advance – in fact, we have nothing to do with your credit card transactions. A Working Capital Loan comes with fixed terms and payments.<\/p>\n

The benefits of a Working Capital Loan include<\/strong>:<\/p>\n