Our Take
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.
Bitty Advance
Max Loan Amount
$250,000
Min. credit score
500
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.
Full Review
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.
How much do you need?
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:
OnDeck
Best for: Short-term business loan for bad credit.
OnDeck
OnDeck - Online term loan
NerdWallet Rating
4.8
Min Credit
625
Read Review
Apply now
with Fundera by NerdWallet
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 27.2
% to 99.9
% (based on loans originated in the half-year ending March 31, 2024; minimums provided are rates that at least 5% of customers received).Read our review of OnDeck’s small-business loans.
Bluevine
Best for: Business line of credit with fast funding.
Bluevine
Bluevine - Line of credit
NerdWallet Rating
5.0
Min Credit
625
Read Review
Apply now
with Fundera by NerdWallet
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.Fundbox
Best for: New businesses in need of financing.
Fundbox
Fundbox - Line of credit
NerdWallet Rating
4.9
Min Credit
600
Read Review
Apply now
with Fundera by NerdWallet
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.
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