If you need cash to transform your idea into reality or keep an existing business’s doors open, you’ve probably looked into a bank loan. If you were turned down or didn’t want to agree to any conditions attached to their financing offer, a non-bank lender may give you a second chance at the money you need.
iAdvance Now was founded in 2013 by CEO Eddie Hamid to help entrepreneurs access the capital they need to grow their business without jumping through all of the hoops associated with a traditional bank. This New York City-based company offers a variety of funding solutions, including merchant cash advances (MCAs), term loans, invoice factoring, and traditional credit lines. This iAdvance Now Review will show you everything they may be able to do for your business!
What Is the Difference Between A Bank Vs. Non-Bank Lender?
Banks often require business owners to subject themselves to a lengthy application process demanding formal meetings and copious amounts of paperwork before they reach a decision. Worse, they can take weeks only to reject your application, often citing something on your credit history from before you even launched your business as the reason why. How is that fair?
iAdvance Now is a non-bank lender specializing in merchant cash advances, allowing them to approve and fund your request in as little as 48 hours. That makes them a great option for when you need quick cash to seize an opportunity.
If you’re unfamiliar with MCAs, they are the purchase of a small percentage of your future credit card-based receivables. This means that repayment is tied to your cash flow, allowing you to pay more when business is good without compromising your business’s integrity during slower periods. This is in stark contrast to a bank that demands X amount per month regardless of your business’s ability to pay it. Repayment with iAdvance Now can also be processed automatically, sparing you from another bill requiring manual repayment.
Your personal credit score is also irrelevant to your application, as it is your business and not you that is actually applying for financing. Instead, the experts at iAdvance Now will look at your receivables to determine your company’s ability to pay back a loan.
There are also no restrictions on how you may use the proceeds from an MCA, letting you run your company however you want. Of course, iAdvance Now is willing to lend a sympathetic ear or even offer business advice gleaned through years of working in a variety of industries if you want a little help.
What Industries Can Benefit from A Non-Bank Lender?
Nearly any company may potentially benefit from an MCA, especially if you do a lot of credit card-based business. iAdvance Now has extensive experience working with entrepreneurs in the retail, entertainment, automobile, wholesale, and construction industries, giving them particular expertise in these fields.
The experts at iAdvance Now are always eager to try their hand at a new industry, so don’t feel excluded if your industry isn’t listed above. They can also work with you to create a unique funding structure if an MCA isn’t a great fit for you.
Our Final Thoughts
Most importantly, iAdvance Now has a proven track record you can believe in. They enjoy an A+ rating from the Better Business Bureau, letting you rely on them whenever necessary. They also have five stars on Trustpilot, a review platform where past clients are free to express their thoughts on their experience with any given company.
In short, iAdvance Now is the best non-bank lender for entrepreneurs seeking fast capital. If you’re interested in learning more or starting their convenient application process, visit them online at iAdvanceNow.com today!