Blursoft Merchant Cash Advance vs. AMP Advance: What’s The Difference?

Are you looking for working capital for your business? If so, you’re in the right place! This blog will compare Blursoft Merchant Cash Advance vs AMP Advance and explain what each has to offer. Blursoft is known for its content regarding its merchant cash advance products, while AMP offers an extensive array of financing options, we also educate our clients on matters such as business credit. So which company is the best choice for you? Read on to find out!

Business Funding Solutions

When comparing companies it’s always good to start with what loan options can that company provide, then compare rates & terms. Certain funding options may not always be the best suited for you so it’s always good to have options, even then it all comes down to cost. Below we will break down the multiple funding options each company offers.

1. Merchant Cash Advance

Merchant Cash Advance (MCA) is a business financing solution that can help small businesses that turns tomorrow’s revenue into a lump sum of cash today. Blursoft and AMP Advance both offer this popular option. Besides total costs as each MCA can be different for each borrower, it is important to note what payment methods are offered. AMP offers 2 payment options to collect payments from fixed daily / weekly payments to a split credit card payment option. Read more here about MCAs and how they can fit your business needs.

Result: AMP Advance

2. Equipment Loans

Need to upgrade your commercial kitchen equipment, lease a trailer or buy a new excavator? If you call it equipment, we call it fundable! Equipment loans are the best way to get a collateral-based loan to increase your business revenues. Equipment loans are secured by the asset being financed so this option makes it safer for the lender and can have better rates than unsecured options. Both Blursoft and AMP offer Equipment financing so be sure to compare rates and terms.

Cross-Collateral Loan- For companies that have trouble obtaining a traditional loan at a bank, cross-collateralized loans are handy a way to get money quickly. A cross-collateralized loan is secured by a valuable asset such as an auto title or real estate as an example.

Result: Blursoft

3. SBA 7a Loans

The three primary SBA loan programs allow you to borrow money for practically any business purpose, such as working capital, purchasing inventory, or equipment; refinancing other obligations, or buying real estate. SBA loans are guaranteed by the Small Business Administration which makes loans less risky for lenders. AMP Advance works with several institutional funds to provide qualified SBA loans to their clients.

Result: AMP Advance

4. Business Line of Credit

A company may be able to access a short-term credit facility from a small business line of credit, which may help it deal with unanticipated expenditures, buy more inventory, and pay its employees. Since the company owner may withdraw money as needed and only pay interest on utilized money, Lines of Credit are a fantastic source of flexible funding. Similar to a credit card, you are given a credit limit, however, the key difference with a line of credit is that you have access to cash. Both Blursoft and AMP offer this same option.

Result: Tie

5. Unsecured Business Loans

Unsecured loans are more reliant on the borrower’s creditworthiness and the company’s cash flow since they aren’t backed by collateral. When they don’t qualify for a conventional loan, small businesses often seek this kind of financing. For example, if they don’t have much in the form of collateral, they may seek this kind of financing. AMP offers term loans not collateralized by a specific asset which gives the flexibility for borrowers to apply who may or may not have qualified assets.

Result: AMP Advance

What to look for in a funding company?

You’re committed to the long term when you run a business. You should look around to find the best lender because you’ll have a payment for 6 months to 10 years. Finding the best business loan is about more than just securing the lowest interest rate. It’s also important to make sure you’re comfortable with the company that’s originating the loan.

While many aspects of the business loan process are consistent across all lenders, there are certain differences that you should consider when shopping around that may change the quality of service you get. Some items to consider when choosing the best lender are below:

  1. Online presence- do they have social media or any followers?
  2. Social proof- any reviews of their services?
  3. Communication- do they communicate via email only?
  4. Accreditation- are they accredited by any industry groups?
  5. Cost- comparing the same loan options, do they have the best overall cost?

How Does AMP Advance Compare?

If you’re looking for business loans and want a great team to guide you, AMP has many great options for you. Our financing is tailored specifically for small businesses, and the approval process is quick and easy. We are A+ rated with the BBB and have several 5-star google reviews making AMP a funding partner you can trust!

In Closing…

AMP Advance can cover all the important factors that you should consider when making a decision, such as fees, terms, and more. We also educate our clients on business credit so they can put themselves in the best financing position in the future. So whether you’re currently choosing between AMP or another competitor, be sure to check if they are credible, experienced, offer multiple loan options, and can help you navigate the funding process smoothly!

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