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
Cash can be available quickly.
Borrowers with low credit scores may qualify.
All industries considered.
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.
How Much Do You Need?
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 a year and having $100,000 in annual revenue.
OnDeck takes term loan applications online or over the phone. Loan amounts range from $5,000 to $250,000, and the repayments are daily or weekly for up to 24 months. Annual percentage rates range from 29.9% to 97.3% (based on loans originated in the half-year ending March 31, 2022).
Read our review of OnDeck’s small-business loans.
Best for: Business line of credit with fast funding.
Bluevine is an online lender that offers business lines of credit up to $250,000. 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 600), six or more months in business and $10,000 a month in revenue. Businesses in Nevada, North Dakota or South Dakota aren’t eligible. Repayment terms are six or 12 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 relatively short six months in business and $100,000 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.