Term Cash Advance Financing Programs: When Other Options Aren't Available

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Overview of Term Cash Advance Financing Programs:

Term Financing Programs Offer Several Compelling Advantages To Businesses:

They provide the businesses with substantial capital upfront, which can be used for a multitude of business operations such as expansion, investment in infrastructure, or bridging cash flow gaps.
Term programs offer the benefit of predictable repayments, allowing businesses to budget and plan their finances effectively.
Rates for term programs are generally lower than other forms of credit, making them a cost-effective solution for businesses.
Regular repayments on term programs can contribute positively towards the business's credit history, thereby enhancing its creditworthiness for future financing needs.
They provide longer repayment periods, reducing the financial burden on businesses and providing them greater flexibility.

What to Expect:

Term advance financing can be a reliable financing option for businesses of varying sizes based oin their unique circumstances.
They are characterized by specific repayment schedules, amounts, and interest, generally encompassing terms between three and ten years. The cost of this financing typically ranges from 10-60%, contingent on a number of qualifications.

Qualifications and Required Documents:

Monthly Gross Sales 100k+
Credit Score 650+
2 Years of Business Tax Returns
2 Years Personal Tax Returns
YTD Profit Loss Statement (P&L)
3-6 Months of the Most Recent Business Bank Statements

Some Funders May Require:

Recent Balance Sheet
YTD Cash Flow Statement
30-150 Days Aging Receivables Report

Why Do Funders Require Documentation for a Term Cash Advance Financing Program?

These documents provide a detailed overview of the business's financial history (revenues, costs, and expenses) and the business owner's personal financial standing.
Funders need the confidence in the business's capacity to return the financed amount.
They are a better reflection of the business owner's creditworthiness and financial responsibility over a longer period of time.
Deeper insights into the business's cash flow and overall financial behavior. .
Detailed financial statements provide funders with a comprehensive understanding of the business’s financial health, helping them make informed decisions.

Understanding term advance programs and their requirements can help businesses secure the necessary funding for growth and expansion. With the right preparation, businesses can position themselves favorably in the eyes of funders.

Why Choose Term Advance Financing Programs:

Term lengths are longer (up to five years)
Advance amounts can be much larger (as high as $5 Million)
The rates are generally lower
The factor rate tends to be five to ten points lower
This form of financing compared to standard receivables contracts or MCAs is more cost effective.

If you can't get can't get approved for a traditional bank loan or a traditional MCA doesnt work for you then you might want to consider applying for a cash advance term financing program that does suit your needs..

Ready?

The process can take 4-8 weeks from start to finish, so why not get started right away!

Want To See How Much You May Qualify For?

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A funding specialist will reach out within 24 hours to discuss your needs.

These programs could be subject to specific terms and conditions, a term loan could be available while working with an affiliated firm of SLS's but are not directly offered by SLS.

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