How Advance Syndicates Can Help You Avoid Business Loans
Advance syndicates can be a helpful source of working capital for businesses that do not wish to take on business loans. Advance syndicates can provide business financing in New York, NY , that is faster and more accessible than standard loan options. If your business needs working capital and you don’t want to go to the bank, here is a look at how seeking syndication investment could be the solution.
Get Capital Faster
When you need money to run your business, time is of the essence. A traditional business loan provided by a bank can require a lengthy application and several days to comb through your financial information. At the end of the process, you may not even be approved. Advance syndicates invest in businesses based on their future receivables, not their pasts. Because multiple investors are involved in advance syndicates, they can also take more investment risks without over-exposing a single investor. These factors allow advance syndicates to get the money your business needs into your hands faster, so you can get back to running your business.
Share Less Personal Information
The application process for a business loan from a traditional lender is extremely invasive. You are required to share years’ worth of personal and business data that is not only time-consuming to compile but also sensitive. Seeking an investment from an advance syndicate means that you can share less of your information while still getting access to working capital. You’ll be exposed to less risk and be able to preserve more of your personal information.
Simplify the Repayment Process
If you have gotten a business loan in the past, then you know that reading your statements and seeing where your payments are actually going can be difficult. With a cash advance from a syndicate, the repayments are simple. You repay an agreed-upon percentage of your future sales, and that’s all. There is no compounding interest to calculate or surprise fees, so you can more effectively budget for the repayment.