What Is A Business Cash Advance?
A business cash advance is an alternative, unsecured lending product that provides access to funding based on a company’s future card terminal sales. Typically, a hotel can borrow the equivalent of one month’s revenue with access to funding in as little as 24 hours.
A key benefit to this form of borrowing is that repayments are made as a pre-agreed percentage of a hotel’s daily card sales. As repayments are based on sales, this helps to ensure that they are manageable during both busier and quieter trading periods.
Business cash advances are generally taken out for a period of 6 months to 2 years and the repayment amount is fixed irrespective of how long it takes to repay.
Using Quote Goat, hotel owners can compare business cash advance quotes from across the market with just one form.