Looking for a Business Loan can be a Race Against Time!
The Times’ James Hurley talks to business owners who have struggled to obtain credit from traditional lenders. He meets Shami Kalra, the founder of watch designer Omologato, who says he accepted an offer of credit from PayPal after his bank took a week to tell him it would not provide him with a £5,000 overdraft.
The financing, called PayPal Working Capital is not something new and is not technically a loan but a “Business Cash Advance“, a form of unregulated factoring, says Mr Hurley of The Times.
The Business Cash Advance permits business owners to ‘Swap’ a small percentage of their future card income for a ‘Cash Advance’ for their business now. This ‘nontraditional’ type of short term funding for businesses is rapidly growing, putting business owners firmly in control of their own borrowing.
To learn more about an Unsecured Business Loan or the Business Cash Advance; call now for a free and fast assessment of what can be advanced and at what percentage of future card income is needed to fund your cash advance, its much less than you think!
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