What Is A Revenue Based Financing?
Revenue Based Financing is an up front sum of cash that is based on a business's future sales. This is a great option for business's that need access to cash quickly.
Here are five top benefits of a Revenue Based Financing
A traditional bank requires a minimum FICO® score of 650 to qualify for this type of funding, we do not have any minimum requirements. This enables the un-bankable business owner to acquire the funding needed even with having personal credit challenges.
NO COLLATERAL REQUIRED
While many conventional business loans require some form of collateral, revenue based financing doesn’t. Although rates are slightly higher than traditional bank rates the fact that no collateral is required makes it an attractive funding program for many business owners.
SHORT FINANCING TERMS
SIMPLE APPLICATION PROCESS
With this type of financing terms range from 3-34 months enabling a business to pay off the loan in a much shorter period of time.
Once the application is submitted funding can take as little as 24 - 48 hours making it an extremely fast and convenient way for a business owner to get access to funds in a hurry.
Unlike the long and excessive amounts of information required with a traditional bank application; a revenue based financing application is a simple one page application. The only other documentation required is the company’s past 3 month’s bank merchant services statements.