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Business Finance Advance

Business Finance Advance has a free, quick quote option via their website that gives business owners an instant approval decision. They have a 95 percent approval rating, and their loans go as high as $2.5 million per location.

Also known as BFAdvance LLC, Nationwide Business Advance Companies, Merchant Cash Advance Companies, and Business Advance Companies. Business Finance Advance offers funding opportunities to small, mid-sized and large companies. BFA deals in alternatives to traditional bank loans as part of its mission to make funding more accessible to businesses.

  • Products: Accessed through the Future Credit Card, borrowers can fund accounts receivables, purchase orders, equipment, and merchant, as well as other business advance needs. BFA also offers alternative business funding programs.

  • Interest rates: BFA advertises rates as low as 12.99 percent as of April 2016 as well as variable interest rates. There are no application fees.

  • Service: Quick turnaround with unique computerized loan matching technology.

  • Borrower qualifications: No collateral, tax return or personal guarantee required. Borrowers must have credit card sales of at least $4,000 per month.

  • Fast approval process: Users can expect to receive loan funds deposited into their accounts within seven days of approval. Initial acceptance takes approximately 24 hours.

  • Large loan limits: Loan amounts are based on monthly credit card sales and range from $2,000 to $1,000,000.

  • Repayment options: There are no fixed payments. After receiving the loan, borrowers repay from the company’s future credit card proceeds. Instead of a fixed payment, the borrower repays BFA a fixed percent of their sales plus a pre-determined ‘factor fee.’ There is no loan term, and funds are repaid solely based on company credit card revenue.

  • Best for: Small and mid-sized business owners that accept credit card payments.

Business Finance Advance

1506 Kings Highway, Brooklyn, NY 11229, USA
Business Finance Advance
1506 Kings Highway, Brooklyn, NY 11229, USA
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