Unsecured business loan based on business history and not credit score!
A Revenue Based Loan, called a Revenue Based Finance, is a transaction is which a business sells a percentage of sales over a period of time in exchange for up-front capital.
With a Revenue Based Loan, a business can secure as much as $2 Million in funding in as little as 72 hours with minimum paperwork, no collateral, and with owners credit history posing no obstacles.
A Revenue Based Loan is technically NOT a business loan. Business loans have a fixed repayment plan with a set interest rate so the loan payment is the same every month. A revenue based financing, however, is an agreement to purchase a portion of a business' future sales at a discount in exchange for up-front working capital. The lenders recover their money by taking a percentage of each month's sales revenues, so the amount paid back is greater in months where sales are higher and lower in months where sales lower.
This variable payment structure is one of the great appeals of the revenue based loan and merchant cash advance, especially for seasonal businesses and companies where sales tend to fluctuate greatly from month-to-month and are difficult to predict. The revenue based loan is also a great option for online businesses and other businesses that generate revenue but don't have the hard assetts that banks require for collateral.
The funds received can be used for things like marketing, purchasing new supplies & equipment, business expansion, and emergency needs such as the ability to meet payroll or make rent. A merchant cash advance, however, is generally not a good option for consolidating debt in which case a debt consolidation loan would be more suited.
Quick Funding, Minimal Paperwork, Less Risk & Good Credit Not Needed
A Revenue Based Loan typically has higher rates than a traditional bank loan, however it's much quicker, easier, less tedious, and lower risk to secure a Revenue Based Loan; and there are numerous business benefits including:
Get The Help You Need!
At CyoGate, because our success is based on your success, we are always happy to help. Our professional team of Business Funding Specialists are available to help you find the best business loan and credit card processing options available.