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Business Cash Advance Or a Loan?

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Borrow between £2,500 and £300,000 and choose to spread the cost of your loan over 4 - 18 Months with easy to manage instalments.
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Business Cash Advance Or a Loan?

A loan and a business cash advance are not the same thing, but to the untrained eye, they might seem so. If you have a business and you’re currently looking at financing options, you might have stumbled across both of these and may be wondering what the differences are and which one you should get. First, check out our article detailing all about the differences you should know about – Business Cash Advance: How Does it Differ From a Bank Loan? So, which one is better for your business? Let’s find out.

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Loan Vs Business Cash Advance: How Much Do You Want To Borrow?

Loan Vs Business Cash Advance: What Do You Need The Money For?

Loan Vs Business Cash Advance: For How Long Do You Want To Take The Money?

Loan Vs Business Cash Advance: How Much Interest Are You Willing To Pay?

Loan Vs Business Cash Advance: Do You Have Collateral?

Loan Vs Business Cash Advance: What Is Your Credit Score Like?

Loan Vs Business Cash Advance: Does Your Business Earn Income From Credit Card Transactions?

Loan Vs Business Cash Advance: How Do You Prefer To Repay The Money?

Based on the answers to your questions, you can either opt for a loan, which you will need to repay in fixed monthly instalments over a longer period, or you can choose a business cash advance, which you will repay in a fixed percentage of your everyday income from credit card transactions. The advantage of the former is consistency, while the latter offers flexibility.

All in all, a business cash advance or a bank loan are both suitable options for a business in need of financing; it's just a matter of circumstances and preference when choosing which one is better for your case. Whatever one you choose, make sure to review every possible aspect and look into things like business merchant cash advance dangers to avoid.

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