Page 2 of 2 FirstFirst 12
Results 11 to 12 of 12

Thread: Revenue Based Loan

  1. #11

    Default

    It really depends on the loan company and the type of loan you get.

    For small business owners that do a lot of sales through debit / credit cards, a merchant cash advance that takes a percentage of your daily (or weekly) of your payment card receivables. This is a good option for small business owners, since the amount you pay to the loan company will fluctuate with your sales. On a slow day with not many sales, you only pay a little bit. On a high-volume day with lots of sales, you pay more.

    Then theres the standard ACH loan, where the loan company will automatically withdraw a certain amount from your bank account on specific dates. This could be a good option if you're confident in your sales volume, and this type of loan can be paid off faster.

    There are also "hybrid" loans, which combine the above repayment options.

    Your only concern with these types of loans should be whether you can afford the loan. Are you taking out a loan against a sinking ship? IMO its better to cut your losses and try to start over, than sink further into debt.

  2. #12

    Default

    I know it's an old thread, but to add and summarize on what everyone's said, you should expect to be required a monthly sales minimum target (~$15,000), a minimum of about 4 months in business, no minimum credit score for some (depending on amount), and funding between $10,000 to a million $. If everything looks good, you could get funding 5-15 days.
    Last edited by Harold Mansfield; 08-19-2015 at 12:36 PM. Reason: Create a signature for yourself

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •