February 16, 2019 | By Mason Roberts
If you're considering applying for a small business loan to give your business a boost, Nextwave Funding is a good option for small business owners in need of capital quickly. It has the potential to be the online-based lender you need to grow and improve your small business. Nextwave offers both merchant cash advances and commercial loan funding. The rate you could receive from either one of these options can vary anywhere from $10,000 to $2 million. Additionally, you can receive this funding in as little as 24 to 72 hours. Sound too good to be true? Keep reading to find out why more small business owners are using Nextwave Funding to boost their business, and get started with our online form today!
Why Should I Choose Nextwave Funding?
- Your credit score does not have to be great. With Nextwave, your credit score does not have to be top par. An associate will work with you to find a solution to your credit challenges.
- They manage your account. Nextwave has associates who will service and manage your account for you. That means you don't have to worry about any terminology you aren't completely clear on. They can help you with whatever you need.
- Nextwave Funding has a national reach. You can take advantage of Nextwave no matter what state you're in.
- The size of your business doesn't matter. No matter the size of your company, you can still receive the funding you need. Nextwave does not discriminate against any type of business.
- Nextwave has provided millions in small business loans. In only 5 years, Nextwave has funded businesses like yours all over the world with hundreds of millions of dollars in small business loans.
Business Funding Application Summary
- How long does the application process take? The for business funding from Nextwave will only take a couple of minutes. It asks a few necessary questions and then all you have to do is wait. Within 24 hours of receiving the application, a funding advisor will contact you with the amount of funding available to you and the terms that are tied to it, such as the time frame of the repayment and any additional costs.
- First Name
- Last Name
- Mobile Phone Number
How Did You Hear About Us?
- Legal Business Name
- Monthly Revenue
- Start of Ownership (Month/Year)
- Business Phone Number
- Business Address
- Zip Code
- Federal Tax ID
Confirmation of first name, last name, mobile number, and email address.
- Physical Address
- Apartment Number
- Zip Code
- D.O.B (Date of Birth)
- Social Security Number
- Ownership Percentage
These are the initial necessary details to be considered for business funding. It's just that easy!
Jumbo Funding Details
Nextwave Funding can help fund your small business with up to $2 million, or “Jumbo Funding”. When it comes to a jumbo merchant cash advance, there are some benefits Nextwave can offer you. These include:
- Easy application process
- Anywhere from $500,000 to $2 million in capital
- Security protocols with loan or cash advance
- Same-day approvals
- Funds delivered to you within 24-48 hours
Merchant Cash Advance Details
Merchant cash advances are unique because they are dependent upon the revenue your small business is bringing in. First, a review of your business’s most recent bank statements are taken into consideration. Then, cash advance decisions is made after a few factors are determined, such as:
- The timeline of your small business (minimum of one year in operation)
- The monthly revenue your small business rakes in (minimum of $10,000 per month)
- Review of active advances from other lenders (if any at all)
After all of these factors are considered, you could be well on your way to getting the small business funding you need to keep your business afloat, growing, and adapting to your current needs.
What Is the Difference Between a Merchant Cash Advance (MCA) and a Small Business Loan?
A merchant cash advance and a traditional, commercial small business loan are very different options, which means they offer different things and require different things. Before applying for a loan or cash advance, it's important to really understand the differences between the two, in order to make an informed decision where your business is concerned.
A merchant cash advance is funding that is given based upon your business’ sales or revenue. It is determined by the volume of cash your business is earning. Merchant cash advances are also paid back through your business sales in a percentage agreed upon when receiving the MCA. With that in mind, small business loans work differently than their MCA cousins. They are offered to business owners at a fixed rate and are repaid through a payback schedule determined initially at the start of the process, before any commitments are made.
Before applying to Nextwave Funding for your small business loan or cash advance, it is a good idea to be aware of the frequently asked questions by existing customers. Below are some helpful questions and answers that will assist you in deciding what is the best financial move for you and your business.
How quickly will you receive your money?
You can receive your money in as little as 24-72 hours after approved documentation is received and all requirements are met.
If your credit score is not great, can you still be approved?
Yes. Nextwave Funding does not have strict credit score requirements. They take into consideration more than just your standing credit score to determine if you are a reliable candidate.
Where does the capital that Nextwave Funding provides come from exactly?
Nextwave Funding funds privately. There are no outside sources within their business, and no brokers are used.
How will you receive your funds if approved?
Funds given with Nextwave are delivered to you electronically every time.
What kind of documentation will you need?
When applying, you will need four months of bank statements and a completed application. If applying for a larger loan, you may need to provide more requested documents.
How much money can you receive?
Nextwave Funding will typically offer you anywhere from $10,000 - $2 Million.
Should I Apply for Nextwave Funding?
Now that you have information about the application process through Nextwave Funding and are aware of what they offer, it's time to decide if this is the best financial step for your small business. Then you can make a smart, well-thought-out decision, and choose whether you want to receive a merchant cash advance (MCA) or a commercial business loan. They each entail different requirements in the long run - but it's up to you to determine which one is a better option for you and your small business needs. Regardless of what you decide, Nextwave Funding has a fast and simple application process that will take some of the stress off your shoulders. Apply today and see how fast Nextwave Funding really is and how it can help you meet your small business goals in 2019!