Overview
The bottom line:
Bitty Advance offers merchant cash advances ranging from $2,000 to $35,000 in all 50 states. NerdWallet recommends exhausting other options before using MCAs.
Pros & Cons
Pros
Cash can be available quickly.
Borrowers with low credit scores may qualify.
All industries considered.
Cons
No transparency online about interest rates or loan terms.
Must have a business checking account.
Must have $5,000 monthly bank revenue.
Bitty Advance is a Florida-based business loan provider founded in 2018. The company does not accept applications directly; it only takes applications through affiliates and brokers.
Bitty Advance offers merchant cash advances ranging from $2,000 to $35,000 to businesses in all 50 states. Merchant cash advances, or MCAs, are one of the most expensive forms of business funding. NerdWallet recommends exhausting other small-business loans or alternative financing options before turning to an MCA.
We’ll start with a brief questionnaire to better understand the
unique needs of your business.
Once we uncover your personalized matches, our team will consult you
on the process moving forward.
Alternatives to Bitty Advance
If you don’t have ideal qualifications or you need cash fast, a merchant cash advance from a company like Bitty Advance may seem like your only option. But other lenders may offer funding that meets your needs. Consider these alternatives: Best for: Short-term business loan for bad credit.
If you need a bad credit business loan, consider OnDeck. The online lender will accept applicants with a minimum credit score of 625 (FICO defines bad credit as a score from 300 to 629). Additional qualifications include being in business for at least 12 months and having $100,000 in annual revenue. OnDeck takes term loan applications online or over the phone. Loan amounts range from $5000 to $250000, and the repayments are daily or weekly for up to 24 months. Annual percentage rates range from 31.3% to 99.9% (based on loans originated in the half-year ending Dec. 31, 2024; minimums provided are rates that at least 5% of customers received) .
Best for: Business line of credit with fast funding.
Bluevine is an online lender that offers business lines of credit up to $250000. If you need a fast business loan, funds can be available within a few hours, though transfers may take up to three business days. The application process is relatively simple: You provide basic information about your business and then request funds through an online dashboard. Bluevine considers borrowers with bad credit (minimum FICO score of 625), 12 or more months in business and $10,000 a month in revenue. Businesses in Nevada, North Dakota or South Dakota aren’t eligible. The repayment term is 6 months. Read our review of Bluevine business loans. Best for: New businesses in need of financing.
Fundbox is an online lender known for flexible eligibility requirements. It requires a short 3 months in business and $30000 per year in annual revenue to qualify, making it a potential fit for those who want a startup business line of credit. Fundbox requires a credit score of at least 600. Fundbox also has a fast application process. You can get a decision the same day, and funds may be available the next business day. Payments are weekly for a year or 24 months. Read our review of Fundbox business loans.