How you can use a small business loan

Small business owners can use loans to grow their business. You can use the funds however you wish.

Cover Expenses

Pay for any unexpected expenses that arise.

Invest in your business

Use the loan to grow your business however you wish.

Payroll

Use the loan to pay your employees.

Liquid

Keep the cash on hand for future expenses.

Equipment

Buy new equipment to grow your business.

Staff

Use the loan to hire new employees.

We Fund Fast

24-48 Hours

Loans up to

$10 Million

Google Rating

5 Stars

Delancey Street Can Help

We're committed to building relationships and helping people all over the USA get access to the RIGHT loan for them. Regardless

Trusted

We're frequently interviewed by major media organizations.

Easy Application

Our app process is super easy. All it takes is one application, and we handle the rest for you.

Service

Service is key. You can ask for advice on ANYTHING and we'll bend over to help.

Experts

Many of our team members are former business owners, and understand your challenges.

Customized

We customize each loan for you, and to your unique specs. Everything is customized.

Universal

We help virtually any industry, any business, anywhere in the USA. It doesn't matter.

Nationwide

We fund business loans nationwide. It doesn't matter where you are, we can help you.

Honesty

This is crucial, and critical. We are 100% honest with our clients, and never strive for less.

Hear from people we’ve helped

“Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.”

- Leena, VP of Sales at Waist Karma

usinesses have a variety of ways to borrow money for their benefit. A merchant cash advance – or MCA – is a form of borrowing that allows a business to get an advance on their future debit and credit card sales. This type of borrowing isn’t usually considered a loan, and merchant cash advance companies are quick to point out that they don’t offer loans. Instead, businesses are getting a cash advance. As such, this type of borrowing isn’t something that affects your credit in any way, good or bad. Perhaps the biggest advantage of the merchant cash advance is that it’s quick to be approved for and quick to put cash in a business owner’s pocket (in as little as 24 hours).

A company who offers MCAs will look at the daily receipts from sales that are completed by credit or debit transactions. They will then offer an amount of money based on those daily sales, and over time, they’ll institute “holdbacks,” or a daily percentage of credit and debit sales. They keep this amount of money in order to repay the merchant cash advance. In addition, there will be interest implemented on the advance itself, and this can be quite a hefty sum for business owners. Because of the high interest rates and holdbacks, merchant cash advances are generally taken out by merchants who simply have no other way to borrow money. Sometimes bad credit will prevent them for qualifying for bank loans or other forms of business loans, and merchant cash advances might be the only way they can get a large sum of money at once. Unfortunately because of the high interest rates and daily holdbacks, it can be very expensive to take out an MCA. When they’re the only option you have, though, they can be appealing.

Alternatives to Merchant Cash Advances

Because merchant cash advances are so easy to qualify for, sometimes businesses resort to them, but there is a better alternative to these types of loans, and some short-term lenders like OnDeck are surprisingly forgiving of the average credit issues some businesses have over the years. OnDeck has an easy application, loan advisers who are there to advise live, and flexible terms for short-term loans. Thanks to flexible loans, you’re able to negotiate the types of terms you want and come up with a solution that works best for your business.

OnDeck has an A+ rating from the Better Business Bureau and as such, maintains a stellar reputation in the business community for offering short-term loans that have lower interest rates than your average MCA. Because of these facts, and the fact that a loan repaid to OnDeck can really help your credit rating, too, many people are turning to OnDeck instead of rushing to take out “easy” but costly merchant cash advances. Billions of dollars in funding have already been shelled out to business owners just like you who need a short-term learn that’s easier to qualify for and gives the same opportunities as merchant cash advances without having any of the costly side effects. Perhaps most inspiring to businesses is that the loan application at OnDeck is analyzed and approved quickly.

Merchant Advance or OnDeck?

Unless your credit is absolutely trashed, and most business owners don’t have credit like this, there is a great chance that you can be approved by OnDeck and not have to worry about taking out a merchant cash advance. You’ll get much lower interest rates with a business loan from OnDeck and then be able to repay the loan quickly, without costly holdbacks or anything else in addition to interest. Applying at OnDeck is simple, quick, and easy. If you would like to avoid the costliness of the MCA, then it’s time to apply at OnDeck and see what they have to offer your business today.