Bitty Advance Review, Application, Rate-Terms & Best Alternatives

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Are you a small business owner in need of quick funding? Whether you’re planning to apply for a loan with Bitty Advance or already have an approval in hand, it’s essential to understand how this funding option works. In this article, we’ll explore everything you need to know about Bitty Advance, a company that provides revenue-based business funding. We’ll cover its pros and cons, loan requirements, interest rates, repayment terms, application process, and customer service. Additionally, we’ll discuss whether Bitty Advance is legit and highlight some of the best alternatives lenders. By the end, you’ll have a clear understanding of whether Bitty Advance is the right choice for your business needs.

Table of Contents

Introduction

Bitty Advance is a legitimate financial company offering revenue-based business funding to small businesses. It provides loans ranging from 2,000 to 2,000to250,000, catering to businesses with poor credit scores or those in need of quick funding. With factor rates starting at 1.40 to 1.55 and flexible payback terms of 30 days to 6 months, they are a viable option for businesses seeking fast cash. However, its higher costs make it essential to explore alternatives like Vader Funding, Fora Financial, and others. While the rates are relatively high, the company offers an early payment discount, which can help minimize costs.

Bitty Advance Pros & Cons

Pros

  • Quick access to funds for businesses with poor credit.
  • Simple online application process with minimal documentation.
  • Flexible repayment options, including daily or weekly payback.
  • Funding amounts range from $2,500 to $250,000.
  • Suitable for businesses with at least $80,000 in annual gross sales.

Cons

  • Higher factor rates (1.40 to 1.55) make it expensive.
  • Short repayment terms (30 days to 6 months) may strain cash flow.
  • Daily or weekly repayments can be burdensome for some businesses.
  • Not ideal for businesses with very low revenue or new startups.

Bitty Advance Loans

Bitty Advance specializes in revenue-based business funding. This means the loan amount and repayment terms are tied to your business’s monthly revenue. The funding is designed for small businesses that need quick cash but may not qualify for traditional bank loans due to poor credit or lack of collateral.

Bitty Advance Requirements

To qualify for a Bitty Advance loan, your business must meet the following criteria:

  • Minimum annual gross sales volume of $80,000.
  • At least 6 months in business.
  • A personal FICO score of 500 or higher.

Required Paperwork

  • One page loan application (you can fill it out online)
  • Recent 4 months of business bank statements.

After approval and signing the contract, Bitty Advance may require additional documents for verification, such as:

  • Previous lender’s payoff letter (if you have an existing loan).
  • Proof of ownership (e.g., business registration documents).
  • Tax payment documents.
  • Month-to-date business bank statements.

Interest Rate and Payback Terms

The private lender offers loans with factor rates from 1.40 to 1.55. If you borrow $10,000 at a 1.40 factor rate, you’ll repay $14,000. Repayment terms range from 30 days to six months. If you are approved for a Bitty Advance Revenue Based Funding, based on your business performance, cash flow, personal fico, business nature you will qualify for daily or weekly.

Early Payment Benefits

Though rate is a little high but you can minimize the cost paying the loan early. Bitty offer early payment discount, if you get a loan for 3 months and you want to within 30 days or 60 days you will get a early payment discount on total cost.

Bitty Advance Application Process

The application process is simple and entirely online:

  • Fill out a one-page loan application on their website.
  • Provide the most recent 4 months of business bank statements.
  • Await approval, which is typically quick due to their streamlined process.

Bitty Advance Customer Service

The private lender offers reliable customer support. You can reach them at their office address: 1855 Griffin Road, Suite A-474, Dania Beach, FL 33004, or call (800) 324-3863. Their team is available to assist with queries about the application process, repayment terms, or general funding questions.

Is Bitty Advance Legit?

Yes, Bitty Advance is a legitimate loan provider. It is transparent about its terms, fees, and requirements. However, due to its higher costs, it is best suited for businesses that need quick funding and have exhausted other options. Always read the terms carefully before committing.

Bitty Advance Alternatives

If Bitty Advance doesn’t meet your needs, consider these alternatives:

  • Vader Mountain Capital: Offers flexible funding options with competitive rates.
  • Fora Financial: Provides fast funding for small businesses with simple requirements.
  • The Fund Works: Specializes in revenue-based financing with transparent terms.
  • Flash Advance: Offers quick cash advances for businesses in need of immediate funding.
  • LYNX Capital: Provides tailored funding solutions for small businesses.
  • Last Chance Funding: Ideal for businesses with poor credit seeking last-minute funding.

Conclusion

Bitty Advance is a reliable option for small businesses needing quick funding, especially those with poor credit. Its simple application process, flexible repayment terms, and early payment discounts make it accessible and cost-effective for businesses that can repay early. However, the higher costs may not suit everyone. Explore alternatives like Vader Funding or Fora Financial to find the best fit for your business needs. Always evaluate your financial situation and repayment capacity before opting for revenue-based funding.

By understanding Bitty Advance’s offerings and comparing them with alternatives, you can make an informed decision to support your business’s growth.

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