How long does it take for my business cash advance to be approved?
Generally, GetBackd can provide feedback within minutes of receiving an application. Take note that sometimes we do require additional documentation to support an application.
What security do I have to provide?
GetBackd advances are unsecured. Through our broker network, we can provide you with secured loans or asset backed finance.
How long does it take to payback my advance?
The payback period of our advances range between 3 to 12 months. Business loans and advances secured through our broker network can have terms that are either longer or shorter depending or the needs of our clients
What documents do I need to provide?
In order to approve an application, we only need three months bank statements and details of your business. Sometimes we do ask for additional supporting documentation after the initial pre-approval.
What type of businesses qualify for a business cash advance?
You should have an existing business that has been operational for more than 6 months. In addition, your sales should be more than $15,000 per month. Unfortunately, we do not provide venture capital or personal loans for new ventures.
What can I use my cash advance for?
Our business advances are unsecured and can be used for any business need, including working capital, stock purchases and expansion.