Beyond the traditional methods of accessing business funding, there are several ways that a person or small business can acquire capital for a business venture, growth investment, inventory purchase, pay roll, or other such business needs.

Additional funding can be obtained through unsecured lines of credit, business cash advances, fast merchant cash advances, and small business loans.  The process is quick and easy and can solve funding issues when customers are in a crunch.

For example, a small business may obtain a line of credit by satisfying a few underwriting qualifications.  These lines of credit include small business micro loans and other alternative financing and funding options, including unsecured and secured business lines of credit, restaurant and QSR financing, bar financing, merchant cash advance, hard money loans, micro loans, collateralized and uncollateralized asset-based loans, SBA 7 (a) programs, corporate credit cards and new business credit cards.  Additionally, these lines of credit are available to cash and check only businesses as well as businesses with other sources of revenue.

To qualify for funding, credit card accepting businesses must have: (1) an average of at least $2,500 in monthly credit card sales; (2) at least four months of credit card statements available for review; and (3) been in business for at least 6 months.  Moreover, troubled business or troubled personal credit histories are not automatic disqualifyers.  Additionally, the business owner has the option of choosing either a portion of credit card sales or a fixed payment method for payback.

Second, cash and check only businesses may qualify for financing if: (1) they have an average of at least $10,000 in sales; (2) they have at least six month of bank statements available for review; (3) they have no existing bankruptcies; and (4) they are current on rent and mortgage payments.  Payments are fixed, but can occur on a daily, weekly or monthly basis.

Third, for medium-sized businesses, funding is available for cash only and check-only businesses.  Loan amounts may be from $10,000-$500,000, rates are between 6 and 28+ percent, and fixed payments are drawn from bank accounts or a percentage of credit card sales.  To qualify for such financing, businesses must supply their last six months of bank statements, a copy of their driver’s license for each principal, a copy of a lease or mortgage payment, and a current business license.

Fourth, businesses might consider applying for a merchant cash advance.  Via merchant cash advances, business owners can obtain instant access to funds quickly, often without a credit check and regardless of credit rating.  Additionally, merchant cash advances do not require a form of security or collateral.  Nor will creditors attempt to advise business owners on how to spend the finances.  Therefore, merchant cash advances are advantageous for the merchant because they require no personal guarantees, collateral, fixed payments, or coupons or checks; because they do not impact the business owner’s ability to qualify for other financing; because they come without use restrictions; and because they can be obtained quickly.