11
May
2016
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How It Works? Business Loan After Bankruptcy

Taking risks is imperative for businesses to succeed in their domain. A lot of business owners and young entrepreneurs have the capacity and daring to take risks for promoting their business. Sometimes, too much risk backfires and put ambitious entrepreneurs in a precarious position.

Often the financial position of the company starts getting worse because of the high risks and then it becomes important for a company to file for bankruptcy. New Age Business Loans believes that filing for insolvency is often a wise business decision and does in no way serve as a representation of failure. We understand that despite declaring bankruptcy, companies need funds and this is the reason we are here to help businesses secure business loans after bankruptcy.

Our Business Loans

New Age Business Loans can arrange funding solution for entrepreneurs with ownership of a business that have a past record of bankruptcy filing and resultantly possesses bad credit history. Our financing program is not based on your credit scores but loan amount is extended only after assessment of the monthly revenues of your business. Lending assistance can be facilitated to your business, irrespective of the circumstances your business faces. There are no costs involved in placing an application form and you can learn about the cash advance program for which you stand eligible by simply filling out our fast and easy online application form.

How It Works?

New Age Business Loans extend business loans to approved applicants upfront for improving their business in exchange of a small fraction of the estimated revenues shown to be earned by them. There is no accruing interest fee charged on the loan for our business borrowers. We offer a loan amount and purchase a small proportion of future sales receivables at a discounted rate. We can disburse loans amounts, ranging from anywhere between $1,000 and $500,000 or more. Our business financing options are primarily of two types- the first one are designed for businesses that process credit cards, and the second one is for those who get their payments in means other than the credit cards such as through checks or other deposits. Both funding solutions work in favor of businesses to improve their access to adequate working capital.

A merchant cash advance is extended to companies that process credit cards. Under this system, a small fraction of the daily sales will be determined and set before the exchange and this fraction of the revenues will be deducted electronically until the entire loan amount is cleared back by the borrower. Such a system works in the best interest of a borrower. The most advantageous feature of this loan system is that the borrower does not have to make bulk payments every month. It does away with the hassles entailed in writing check every month or maintaining a monthly record of payments done. The most beneficial feature is that the payments will be reduced when the business experiences a slow growth phase and as a result some stress will be taken off your business. The flexible terms of this financial product makes it easy for borrowers to secure it.

ACH Loans

ACH Loans are provided to business owners, who do not process credit cards. It functions in a similar manner as a business cash advance, with only differences being its need for a borrower to show a higher qualification requirement and deduction of payments through an ACH. In such a financing solution, deduction is made out of the business bank account of borrowers as is similar to any kind of direct deposit.

If you want to secure business financing despite having a record of bankruptcy filing then it is right to approach us. We are a leading provider of cash advance to businesses. We understand that business owners cannot be denied of financial assistance only on the grounds that they possess bad credit or have filed for bankruptcies. Place an online application and push forth your business on the right track.