What an advance is
You receive a lump sum and repay it through daily or weekly withdrawals or a share of card sales. It is not a monthly loan, and payments continue when business is slow. We do not publish pricing here because it depends on the offer. The right comparison is total repayment against the amount received.
Los Angeles neighborhoods and daily deposits
Wikipedia lists Chinatown, Historic Filipinotown, Koreatown, Little Armenia, Little Ethiopia, Tehrangeles, Little Tokyo, Little Bangladesh and Thai Town as ethnic enclaves that show the multicultural character of the city, and notes that communities of people of Mexican and Central American descent are long established and spread throughout the metropolitan area. Each of these is also a local commercial district with restaurants, groceries, salons and shops. Such businesses have frequent card and cash deposits, and an advance can fit when they need money quickly for a repair, a restock or a lease deposit.
Why speed is the draw and the danger
An advance can be arranged quickly, and for a business with an urgent, specific need, that matters. The same speed means owners sometimes sign before working out what a bad week looks like. Take twenty minutes to check your slowest week of the last quarter against the daily payment, and decide in advance what you will cut if sales dip. That small amount of planning separates a useful advance from a painful one.
Fit check
| Sign | Fits | Does not fit |
|---|---|---|
| Deposits | Daily | Few and large |
| Purpose | Short, quick payback | Long-term asset |
| Existing advances | None | Several |
| Margin | Comfortable | Thin |
For illustration only: with a 15 percent margin, every extra dollar of withdrawal comes out of what is left after costs. Example, not our terms.
Reading the agreement
Before accepting, find four things in the document: the total amount to be repaid, the way payments are taken (share of sales or fixed amount), whether payments change in slow weeks, and what it says about taking additional funding. Ask for each in plain words. If the answers are unclear, or the person offering will not put them in writing, that is information too. A good offer survives a second read.
Alternatives
If you are paid by invoice, working capital or a line of credit suits you better. If sales swing sharply, see revenue-based financing. For existing advance trouble, MCA relief.
Who should wait
If your sales are mostly a few large invoices, if your margins are already thin, or if you have not yet had a full quarter of deposits, an advance may put pressure on a business that cannot absorb it. In those cases it is usually wise to look at the other options first, or to wait until the numbers are stronger.
What we ask for
Requests run from $25,000 to $5,000,000. About three months of business bank statements and a 5-minute application. FICO 500 and above is considered, no tax returns, a soft credit pull. Funding can arrive in as little as 24 hours after approval. Sole proprietors can apply. Apply here.