It can be difficult running a small business, especially with banks scaling back lending to small businesses and seeking out alternative methods to pay their bills and employees is important to small business owners. Examples of these alternative financing options include lines of credit, merchant cash advances, or invoice factoring.
Many business owners, especially in times like these, can’t access a traditional bank loan or choose not to due to poor credit, application approval time restraints, or the need for cash right away. For these businesses, the Revenued Business Card could be a great option.
The Revenued Business Card requires no minimum FICO score, making it one of very few business financing options for companies with subprime credit scores. Read on to learn the purpose of the Revenued Card for Business.
Revenued Business Card Benefits
The Revenued Business Card is much easier to qualify for than traditional business loans, offering a distinct advantage to small businesses that cannot secure working capital through standard methods. The following are scenarios in which your company could benefit from the Revenue Business Card:
Your Company Does Not Have Years of Sales History
As a newer business, there is a good chance you could use a little extra funding to get by. Bank loans or traditional business credit cards can often require a minimum of two years of operation and healthy revenue numbers before handing over their money. The Revenued Business Card only requires a minimum of six months of business activity and $10,000 in monthly sales
Your Business Has a Low Credit Score
Often, small businesses struggle to get their credit score off the ground. They have not been in business long, have struggled to keep up with their bills, or are forced to dip into their personal finances to stay afloat during slower seasons or to survive the pandemic.
A low credit score can damage your company’s ability to qualify not only for a traditional bank loan but alternative financing options, including an MCA or a line of credit.
The Revenued Business Card is unique in that there are no minimum FICO score requirements. This makes it an excellent option for businesses or owners with any credit score — including subprime.
You Need Quick Access to Capital
There are many times when small businesses need fast access to funds. Here are some examples:
- An opportunity may come up for a speedy bulk goods purchase that won’t last into next week.
- Payroll is due on Friday, but you can’t cover it until next Monday when you receive payment for that large invoice.
- Building maintenance or repair emergencies cannot wait.
The Revenued Business Card’s speedy approval process does not require heavy paperwork or a traditional bank’s lengthy qualification procedure. The entire application can be completed online, and you can start spending upon approval.
Your Business Has Little to No Collateral
Traditional business loans usually require you to put up personal or business assets as collateral. This could be impossible for fledgling companies without much in their asset columns. The Revenued Business Card accounts are unsecured, so if your sales drop and you cannot make payments, you can ask for a true up to adjust your daily payments instead of losing your assets.
Your staff is a huge, but vital, expense to your small business. If you have to lay off employees during the slow season, they may not be available again when business picks up. It can cost money to onboard new workers for the busy season. Use your Revenued card to cover your other business expenses and free up the cash needed to make your payroll.
Getting Out of Debt
Starting or scaling your small business takes money, and you could quickly find yourself up to your ears in mounting debt. Often, business owners apply for zero-interest credit cards or take on new loans to cover debt payments. A Revenued Business Card gives you the money to pay down your obligations.
Revenued Cards Help Owners That Need Immediate Access to Capital
The Revenued Card application process happens online and can be completed all at once — without phone calls or paperwork. Once your application is approved, you can start making purchases as soon as you receive your card number.
Once your business obtains the Revenued Card, you can use it for any purchases you need as long as your bank account has no more than three negative days per month and an average daily balance of $1,000.
A Revenue Business Card’s advantages also include:
- An easy path to approval — Augment your business funding without a lengthy and intrusive qualification process.
- Poor to fair credit accepted — Your credit history and your company’s credit scores are a limited part of the equation. Qualify for a business card based on your current financials.
- Multipurpose flexibility — A Revenued Business Card has the flexibility of a traditional credit or debit card. Use it with any vendor or supplier that accepts credit card payments.
- Instant access to your funds — You can start utilizing your credit line immediately after receiving your card number.
- Available cash draw — Make a cash draw to pay merchants or individuals not set up to accept card payments. Select this option through your Revenued Card portal, and money will be deposited from your card account directly into your associated bank account.
Find Out if You Qualify for the Revenued Card Today
Time is money, and the purpose of the Revenued Business Card is to get you the money you need for your business, fast. The new Revenued Business Card is the quickest and easiest way to harness instant financing for your small business.
If you’re currently looking for alternative financing options like an MCA, invoice factoring, or a line of credit, consider how you can outperform your competition with the Revenued Business Card advantage instead.
Generally, any business that meets the below criteria is eligible for the Revenued Card.
- Must have an average of $10,000 in monthly sales
- Maintain an average balance of $1,000 in its business bank account
- Needs to be in business six months or more (no start-ups)
- Can’t have more than three negative days in a given month
Whether you’re struggling to stay afloat or ready to launch your company to new heights, our business card is the financial solution you are looking for. Learn more by filling out our online form or by calling (855) 943-5363.
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