When you need working capital, the options can feel overwhelming. Traditional banks, online lenders, merchant cash advance providers—each one promises "fast, easy funding." But the fine print is where business owners often get stuck.
At Spring Advance, we believe in giving business owners a clear view of their options before making a decision. Let's break down the three most common funding choices:
1️⃣ Bank Loans
Best for: Established businesses with strong credit and collateral
- ✅ Pros: Lower interest rates, longer repayment terms
- ❌ Cons: Lengthy approval process, strict requirements, heavy paperwork
- ⏳ Approval Time: Weeks (sometimes months)
If your credit is excellent and you're not in a rush, a bank loan can be a great fit. But for many small businesses, banks simply say "no."
2️⃣ Lines of Credit
Best for: Businesses that need flexible, ongoing access to funds
- ✅ Pros: Only pay interest on what you use, funds can be reused
- ❌ Cons: Requires strong credit and financials, lower limits than loans
- ⏳ Approval Time: A few days to weeks
Think of this as a "rainy day fund." Useful if your cash flow fluctuates and you want funds on standby.
3️⃣ Merchant Cash Advances (MCA)
Best for: Businesses with strong sales but limited credit history or collateral
- ✅ Pros: Fast approvals, minimal paperwork, repayment tied to revenue
- ❌ Cons: Shorter terms, higher cost of capital compared to traditional loans
- ⏳ Approval Time: 24–48 hours
With an MCA, you're essentially selling a portion of your future sales in exchange for immediate working capital. This makes it ideal for businesses that can't wait weeks for a bank to decide.
✅ Which Option Is Right for You?
- If you have great credit and time to wait → Bank Loan
- If you want flexibility for the future → Line of Credit
- If you need fast, straightforward capital now → MCA
At Spring Advance, we specialize in helping businesses secure merchant cash advances with no unnecessary broker fees, flexible terms, and quick approvals.
👉 Next Step: Let's talk about your business and walk through which option makes the most sense.
<%= link_to "Apply now", apply_now_path, class: "text-primary-600 hover:text-primary-700 font-medium" %> or give us a call today (732) 558-7312.