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BUSINESS CASH ADVANCE
A business cash advance (BCA) is also known as the Purchase of Future Sales Agreement. The business owner is responsible for paying back a fixed payback known as a specified amount, which is higher than the amount that was advanced to the company. This difference between the advance amount and the payback amount is called the Factor Rate or cost, which is a fixed cost. The advance is repaid by taking a fixed percentage of overall deposits called the specified percentage.
BUSINESS TERM LOAN
A Business Term Loan is a lump sum of capital (a specific amount) that you return over a set period of time with a fixed (or adjustable) principal and interest rate, as well as a “factor rate,” which is a fixed cost. A business term loan can be short (six to twelve months), intermediate (12 to 24 months) or 3 to 5 years. Payments are usually made on a monthly or bi-monthly basis.
SHORT TERM BUSINESS LOANS
The term "short term business loan" refers to a lump sum of money given to a firm for the purpose of funding a business opportunity. Working capital, equipment acquisitions, expansion or remodeling, and a variety of other demands are examples of such uses. A short-term company loan is often easier to secure than long-term business loans, which may necessitate a lengthy application process.