Eligible for RBF (the most popular form of alternative loan)

Revenue financing is not a loan; this is an advance payment for your earnings.

This is very similar to the cash advances in the consumer world, where:

1. Your current salary is analyzed

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2. Then borrow money based on the stability and amount of your salary

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3. Then you have a short time to pay back the borrowed things

With income financing, the lender will look at two main types of documents: bank statements and business statements [if you have a merchant account].

They will also want to see the usual driver's license and also verify the rent, lease or ownership information of the property.

Even if you run a family business, you can qualify.

Lenders are looking for very specific requirements when they qualify you.

Monthly deposit analysis of 8-30 euros on bank statements. The lender does not want to see only a few large deposits. Instead, they want to see many smaller deposits, such as retail stores that will have no real estate agents.

Positive bank balances at the end of the period are also important. If you don't have money every month now, lenders know that it will be difficult for you to repay the money, so they are looking for positive monthly cash flow.

They want to see that the bank account is responsible for management and there is almost no NSF fee. They also don't want to see a lot of refunds, and this may reflect unexpected future spending.

The longer you work, the better your chances of getting approval.

Most lenders require you to operate for 12 months or more. If you only operate for six months, some lenders will borrow money from you.

But in that case, they usually want to see compensation factors.

Personal credit is not a major factor in approval, but it is tied to the terms you are paying.

Lenders typically approve business owners with scores as low as 500. Lenders are most worried about your current troubles, such as impending bankruptcy or recent liens and judgments.

If you don't have these types of issues, you can get approval even if you use your most recent payment account and delayed payments. This is one of the best types of financing secured by credit issues.

Income financing is very easy and very fast. Due to file restrictions, you can get initial approval within 24 hours. After signing the terms and conditions, a 24-48-hour due diligence process will take place. In the process, they are looking for potential problems, such as: excellent progress that you didn't mention, signs that you are going to close down, and verifying that your lease/debt arrangement is good.

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