Revenue Advance: Interview With Siloam Lackey
A revenue based advance is ideal for small businesses who are unable to acquire funding through traditional banks due to poor personal credit ratings. This funding program determines the funding ability of your business based on your cash flow – not personal credit.
While interest rates are higher than a traditional loan, some business owners accept the riskier lending format because it enables them to retain ownership of their businesses while not requiring them to pledge collateral.
Whether your business is looking to purchase inventory, expand facilities, hire additional staff, launch a marketing campaign, buy or lease equipment, or need working capital; a revenue based advance can provide funding in as fast as 3 business days.
Here are some of the benefits of the RBA program:
- Funding range $5,000 – $1,000,000
- Funding in as little as 7 days
- Low FICO® Score allowed
- Based on revenues of the business
- Reports to the business credit reporting agencies
- Previous bankruptcies allowed
- Cash deposited directly into business bank account
- Repayment terms range from 4-24 months