Small Business Financing
Compare Rates

This comes at a modest cost, however, in that a fixed-term loan is credit-based and requires a personal guarantee by the owner or owners.

A business loan with a fixed interest rate and term.

Not a loan, an asset purchase

For a $20,000 loan, typical payback is $23,800 over 6 months for daily payment of $132.

For a $20,000 advance, typical payback is $27,600 over 6 months for a daily payment of approximately $153.

No need to change credit card processor.

Typically must change credit card processor.

No interruption to credit card activity. Will collect a fixed daily payment from your business bank account.

Cash advances typically intercept your credit card receivables at the merchant processor and take a fluctuating percentage of your daily credit card volume.

Successful repayment of this loan will be positively reflected in your credit history.

Successful repayment of a cash advance will not be positively reflected in your credit history.

6

1.19

1.16-1.18

12

1.3

1.26-1.29

sized based on the volume of the credit card transactions for the business and typically have no personal repayment guarantee. The disadvantages are that they typically cost more than a loan and commonly require the business to switch credit card processing providers.

Not a loan, rather an asset purchase

Uses interest rates. For instance, with credit cards or many loans, underpayment may result in a growing amount that you need to pay back

No fixed payments. If your revenues slow down, the repayment slows down

No fixed payments. If your revenues slow down, the repayment slows down

No personal repayment guarantee

Typically require personal repayment guarantee

No credit bureau reporting (except fraud)

Shows up on your credit report

Can be used for any purpose

Typically, can be used for specific purposes only

6

1.35-1.39

This program is also called a Starter Merchant Cash Advance. The amounts advanced are typically smaller than the business cash advance, mainly because payback periods are shorter. Most of these programs do not require a credit inquiry.

Typically requires no credit inquiry

Requires a credit inquiry

Requires a switch in credit card processor

Frequently, though not always, requires a switch in credit card processor

Advance size is typically 1/3rd the size of a Business Cash Advance

Business Cash Advance based on monthly credit card volume

1-2

1.48-1.49

Fixed-Term Business Loan Rate Calculator
(1.19 / 6 months)

Business Cash Advance Rate Calculator
(1.35-1.39 / 6 months)

A restaurant that is planning to open or that has been open for less than a month may qualify for this cash advance program. You must demonstrate a plan to reach $25,000 per month in the future. Please contact us at 1-877-221-3003 for more information.