The short answer
- A business cash advance is money now, paid back from your future sales. It is not a loan.
- It is based mostly on what your business brings in each month, so bad credit does not rule you out.
- If everything checks out, money can land as soon as the same day, usually within a few hours.
What a business cash advance is
With a business cash advance, you receive a lump sum today and agree to pay back a set total out of your future sales. Because it is a purchase of future sales and not a loan, the decision rests mostly on how your business is doing now: the money coming in each month and how steady it is.
You may also hear it called a merchant cash advance. It is the same idea.
How it is paid back
Payments come out automatically, usually daily or weekly, and some offers allow other schedules. The total you pay back is fixed and agreed before you sign, so you always know the final number.
If sales drop, talk to your advisor. Payments can often be worked out.
What it costs
A cash advance costs more than a bank loan, and you pay for the speed and the easier approval. Before you sign, you should know three numbers in dollars: what lands in your account, the total you pay back, and the size and timing of each payment. With Jade, you get all three in writing, and your advisor walks you through them.
Many offers also include a discount if you pay early. Ask your advisor whether yours does.
When it makes sense
- A job or order needs money up front and pays you back later.
- Payroll is due before a customer pays.
- Equipment broke and the business stops without it.
- A bank said no, or would take weeks.
The best use is something that earns its cost back. If it would only cover other debts, say so: your advisor will tell you plainly if an advance is the wrong fit.
How to apply
Apply online in a few minutes. There is no credit pull to apply. Your advisor may ask for a few documents you most likely already have, then walks you through every offer before you decide. One advisor stays with you from your first call until the money lands.
