Small Business Loans From Rapid Advance

Some of the best names we have as clients include names like McDonalds, Subway, Domino’s Pizza, La Bella Vita, Inc., Dunkin Donuts, Saxby’s Coffee, New Horizons Computing Learning Centre, Country Hearth Inn, Tan Republic and so on. Some of the recent names include Lawn & Garden, Gas Station, Sporting Goods, Automotive, and Clothing& Apparel….. Well, yes we have no. of clients who can actually be converted into a list. It’s simply because people show faith in us and we do everything we can to keep their trust. 

We at Rapid Advance believe that normally a business needs money in two situations – one when it is beginning and secondly when it is going through a bad phase. We offer advances in both conditions.

Starter Advance or Small Business Loan Program

Starter Advance is something which we offer while you are at the phase of just beginning your business; that is when you are starting it. Small Business Loan Program is for those kinds of start-ups who have been in any kind of business for at least one year. We offer large amount of sums to those who have been running successfully for the past one year. (Yes we do, read any of the Rapid Advance Reviews…)

Computation of the loan amount is done on the basis of gross sales. We believe it is a showcase of how much cash you will require and also this is the meter as to how much you will repay within the stipulated time.

The manner in which you can apply for this kind of loan is simple

1. Fill in the application form
2. Enter your details like company name and details of your work
3. Get a free Quote from us.
4. Discuss details with our Financial Advisor and get the best plan for your business
5. Do the formalities and get approval with 48 hours of submitting all the documents. 
6. Once the loan amount is approved, chalk out a plan as to how you will repay the loan amount in a fixed manner.
7. Get free advice about how best you can run your business. 

This kind of program best fits for start-ups who generate sales through VISA or Merchant Card Processing. Rapid Advance provides you with a lump –sum loan amount with which you can run your business smoothly. For this you have to agree upon a set amount of future credit card transactions. 

This program has a lot of benefits like funding when you require it. 80% of the people doing business, who apply for this kind, get approval within 10 days of application. Repayment is easy as when credit card payments are low; our repayment amount automatically goes down. 

On the other hand, as and when your business transactions grow, your repayment amount too grows. This program does not require any kind of collateral, personal guarantee or security needs. 

Last but the least – the amount funded can be used for any kind of business and in any phase of the business – as long as it is legal. We do not interfere.(Ask any of Rapid Advance Reviews…)

That comes to the end of the story. However, practical part comes when you actually contact us and we began working. So, call us today….

Understanding the Differences Between Personal and Business Credit

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If you’re a business owner and you’re in the market for a business loan, it’s a good idea to understand that there are big differences between business credit and personal credit. 

Personal Credit

Let’s begin with your personal credit. Hopefully you are already aware of the fact that your personal credit score takes into account your credit history. A credit agency most commonly will calculate your score using the FICO method, which is based on several factors such as your payment history, outstanding debt, new credit, and the length of your credit history.

TransUnion, Experian, and Equifax are the top three personal credit bureaus in the US. It is required by law that these three agencies allow you to request a free credit report from each of them every 12 months. Additionally, if you find an error or discrepancy on your report, under the Fair Credit Reporting Act, the credit reporting company and the organization that provided the incorrect information must investigate the error in a timely manner.

It’s important to note that any accurate negative information on your credit report, like missed payments, will eventually disappear after seven to ten years. And although those marks stick around for several years, you always have the opportunity to build and repair your own credit in the meanwhile.

You want to maintain the best credit score possible because it is your passport to low interest rates and fees when you decide to apply for a car loan, take out a mortgage, request a credit card, and more. If you have a favorable credit history, companies will be more inclined to offer you good benefits and trust that you will make payments on time.

Business Credit

With that being said, if you’re looking to take out a loan for your business, it’s best to do it under your business’s credit. Regardless of how stable your business may be right now, business endeavors can be risky, so you don’t want any of your business’s potential debt or missed payments to reflect on your own personal credit report.

So that’s where business credit comes into play. If you don’t currently have business credit, you’ll want to first form a business entity, apply for a tax number, and then set up a business bank account. Once you’ve done that, you can register with business credit bureaus, so that vendors can begin reporting your business’s payment history to them. The top three business credit bureaus include Dun & Bradstreet, Business Experian, and Business Equifax.

These credit bureaus calculate your business’s Paydex Score, which is similar to the FICO scoring method. The Paydex score takes into various factors, but relies heavily on your business’s payment history.

One of the main differences between your business and personal credit, is that there is no way to repair your business’s credit report. Just a few missed payments, and your business credit could be tarnished forever.

Another big difference is that there are no rules or regulations in place that require the credit bureaus to fix errors on your business’s credit. While you can still report mistakes or dispute errors, there aren’t any laws in place to facilitate the process or protect your business like there are with personal credit.

Understanding some of these main differences between personal and business credit will make you more savvy when it comes time to take out a loan for your business.

Chloe Mulliner writes and edits for CreditSources.org, a website that focuses on bad credit unsecured loans, cash advances, and all things credit related.