Small business funding can make or break a service industry business. Because the service industry fluctuates, with the seasons and public demand waxing and waning, service industry businesses need a resource whereby they can obtain additional finances without having to wait interminably. Many business owners seek this financing via conventional routes to begin with; only to be severely disappointed - conventional financing options such as bank loans are rarely approved to businesses which really need the capital. The banks tend to lend to businesses which actually need the money less.

One of the cons to attempting to obtain finance from a bank in the form of a small business loan is that the lengthy waiting periods involved are not helpful to the service industry small business. Funding needs to be approved quickly when there are brief expansion opportunities, or when a slow month means that credit is needed in order to purchase inventory for a guaranteed turnover. A business cash advance is much more useful than a bank loan for a number of reasons, not least because it takes much quicker to repay the advanced amount - a bank loan may take years, but an advance only takes months.

Many people find the plethora of terminology used in the business world confusing, but a quick explanation of what a business cash advance is can help to clarify. A business cash advance is a small business funding option which is available to merchant businesses which accept credit card payment, such as Visa and MasterCard. What a business cash advance does is allow you to receive funds from future payments early, via a third party which advances your business the amount which will be paid back using future receivables. There are only a few requirements for your business to be eligible.

Businesses which hope to obtain small business funding in the form of a cash advance need the following: The business needs to belong to the service industry category (a restaurant, boutique or other establishment). The business needs to have been in operation for at least a full year.

The business must already accept $5000 in credit card payments per month, and should have accepted credit card payments for 5 or more preceding months. The business must not be tied to any bankruptcy and should have a at least one year's lease remaining.

Many merchant businesses benefit from the use of business cash advances. In addition to the fact that these are approved far quicker than business loans, a far higher percentage of cash advance applications are accepted, when compared to other small business funding applications. A cash advance will not require that your detail its intended use, and thus you can use the money received for obtaining decent advertising, building inventory, expansion purchases, or other urgent needs. An application form is quick to fill out, and with approval possible in as little as two days, you will not have to sit around waiting while great business opportunities pass you by.