A revenue-based business loan is an loan that your business receives in full upfront, and agrees to pay it back based on a percentage of your future monthly revenue. These payments continue until the principle + interest are repaid in full.
- Get access to funds quickly
- Approval process is easy
- Less than perfect credit accepted
- Use for a variety of business purposes
- Higher rates & fees than with traditional loans
- Might require collateral
- Gets more expensive with lower credit