Securing financing can be a significant hurdle for small businesses, especially those with less-than-perfect credit histories. The Revenued Business Card offers an alternative by focusing on your business’s revenue rather than your personal credit score. Let’s explore how this funding solution works, its features, and whether it fits your business correctly.
What is the Revenued Business Card?
The Revenued Business Card is a financial tool designed for small businesses that may face challenges obtaining traditional financing due to credit issues. Instead of relying on credit scores, Revenued evaluates your business’s revenue to determine funding eligibility. This approach allows businesses with steady income streams to access necessary funds without the constraints of conventional credit assessments.
Key Features
Business card with no credit check, based on revenue instead
Flexible spending power that grows with your business
Cashback rewards on every purchase
Why We Recommend It
The Revenued Business Card is ideal for small businesses that need flexible funding but don’t qualify for traditional credit. It’s based on your revenue, not your credit score, making it easier to get approved and grow.
Pros & Cons
- No credit check required
- Cashback on all purchases
- Fast approval and access to funds
- Only available to businesses with consistent revenue
- Daily repayment model may not suit everyone
How Does It Work?
Unlike traditional credit cards with fixed limits, the Revenued Business Card offers a Flex Line—a flexible spending limit that adjusts based on your business’s monthly revenue. As your sales increase, so does your available funding, providing a scalable solution that grows with your business. Instead of standard interest rates, Revenued employs factor rates to calculate repayment amounts. A factor rate is a decimal figure (typically 1.1 to 1.5) determining the total repayment when multiplied by the borrowed amount. For example, borrowing $10,000 at a factor rate of 1.2 means you’ll repay $12,000.
For a visual demonstration and in-depth review, check out the following video:
Qualifications
To be eligible for the Revenued Business Card, your business must meet the following criteria:
- Monthly Revenue: At least $20,000 in monthly sales.
- Operational History: A minimum of one year in operation.
- Business Bank Account: Must have a separate business checking account.
- Business Structure: Entities such as LLCs, Corporations, and Partnerships qualify; Sole Proprietorships are not eligible.
Pros and Cons
Pros:
- Accessible Funding: Businesses with fair or damaged credit can access revenue-based funds.
- Quick Access: Potential for funding within 24 hours.
- No Hard Credit Check: Applying won’t impact your personal credit score.
- Flexible Limits: Credit limits that adjust with your sales performance.
Cons:
- Costly Factor Rates: Repayment amounts can be significantly higher than the borrowed sum.
- No Grace Period: Immediate finance charges without an interest-free period.
- High Revenue Requirement: Minimum of $20,000 in monthly sales to qualify.
- No Credit Building: This doesn’t contribute to personal credit history.
Application Process
Applying for the Revenued Business Card is straightforward:
- Online Application: Complete the application with basic business information.
- Bank Account Linking: Connect your business bank account to verify sales and revenue.
- Approval and Funding: Upon approval, access your funds potentially within 24 hours.
Final Verdict
The Revenued Business Card presents a viable funding option for businesses with steady revenue streams that may not qualify for traditional loans. Its revenue-based evaluation and flexible credit limits offer an alternative path to necessary capital. However, it’s crucial to carefully consider the cost implications of factor rates and ensure that your business can manage the repayment terms effectively. As with any financial decision, assess your business’s specific needs and consult with a financial advisor to determine if this solution aligns with your long-term financial strategy.
