There are lots of hoops through which you must jump if you want to gain a loan as a business owner. If you don't jump through these hoops the lender will refuse you the finance that you need, which could have huge implications for your business. Here are just a few of the common stipulations that lenders insist upon:
As you can see, it's not just a personal guarantee that a traditional lender such as a bank may ask for – they'll have you jumping through all kinds of other hoops, too. Remember that loan applications with banks tend to take a good few weeks to be considered, this is precious time your business may not have if your accounts are already in the red. At YellowStone you'll rarely wait more than 24 hours for an answer to your finance application.
When it comes to repaying your cash advance we know that fixed monthly payments can be very challenging for businesses to accommodate – especially if your business is in a seasonal market. For that reason the repayments that you make will be based directly on the sales that you make that month. So if sales are up you'll pay a larger repayment, but if sales are down, you'll pay less. Repayments are calculated by a percentage of your sales – which offers great flexibility.
Get in touch with us here at YellowStone Capital today. A business cash advance may well suit you better than a no personal guarantee loan.