Want to jump straight to the answer? The best merchant cash advance service for most businesses is Fundbox or PayPal Working Capital.
Managing cash flow is a challenge for many small business owners. Consider this—82% of businesses fail due to cash flow issues, and 84% of small businesses aren’t profitable until the fourth year.
Merchant cash advances offer a virtual lifeline for businesses with cash flow troubles. Alternative financing is a viable option for businesses that need money quickly without meeting rigorous qualification requirements.
The Top 8 Best Merchant Cash Advance Services
Read on to see our reviews of the top eight merchant cash advance services and learn how a cash advance works and how to choose the best one for your needs.
Fundbox – Best Merchant Cash Advance For Startups
- Good for entrepreneurs and startups
- Borrow as little as $1,000
- Up to $50,000 without collateral
- Credit score of at least 500
Most merchant cash advance services target relatively established businesses, making it difficult for new business owners to qualify. Fundbox has some of the lowest requirements to be eligible for a business line of credit.
You can borrow as little as $1000, which is perfect for solving day-to-day petty cash shortfalls quickly. You can also borrow up to $50,000 without collateral or a personal guarantee.
However, you will need to provide a personal guarantee and blanket lien for amounts exceeding $50,000. The maximum amount for borrowing is $150,000 with Fundbox.