Broadway Advance vs. Banks vs. SBA vs. Credit Cards
Every funding source is a trade-off between speed, cost, and access. Here's the honest version of how they stack up — including when we're not the right answer.
| Broadway Advance | Bank loan | SBA loan | Business credit card | |
|---|---|---|---|---|
| Funding speed | As fast as 24 hours | 2–6 weeks | 30–90 days | 1–2 weeks to open |
| Typical amounts | Up to $2M advance / $5M term | Varies by bank | Up to $5M (7(a)) | $5K–$100K limits |
| Approval based on | Real revenue & cash flow | Credit + collateral + financials | Credit + collateral + full underwriting | Personal credit score |
| Credit required | Flexible — bad credit OK | Good to excellent | Good, plus eligibility rules | Good to excellent |
| Paperwork | 1-page app + 3 months statements | Tax returns, financials, business plan | The heaviest of all | Short application |
| Cost | Factor rates from 1.10 — higher than banks, full cost shown upfront | Lowest rates if you qualify | Low rates, long terms | High APR if you carry a balance |
| Repayment | Flexes with your sales | Fixed monthly | Fixed monthly | Minimum payments — easy to revolve forever |
| Best for | Speed, flexibility, bank turn-downs | Cheap capital for strong files | Patient, well-documented borrowers | Small everyday purchases |
The honest verdict
Which one is right for you?
Choose a bank or SBA loan if...
You have strong credit, full documentation, real collateral, and — above all — time. If you can wait one to three months and clear underwriting, it's the cheapest capital available. We'll say that plainly, because it's true.
Choose a credit card if...
The need is small and you can pay the statement in full each month. Cards are a terrible way to finance payroll, inventory, or equipment — revolving five figures at high APR is one of the most expensive mistakes an owner can make.
Choose Broadway Advance if...
You need real capital this week, the banks said no (or said "maybe, in six weeks"), your credit doesn't tell the real story of your business, or your revenue swings and you want repayment that swings with it. One application, 50+ programs, full dollar cost upfront.
Common questions
Comparing your options
Why not just wait for the SBA loan?
If you can, you often should — SBA pricing is hard to beat. The problem is the wait and the decline rate. A busy-season inventory window, a contract that needs mobilization cash, or a broken machine doesn't sit politely for 90 days of underwriting. Many clients use us for speed now and refinance into cheaper debt later.
Can I use Broadway Advance funding to pay off other debt?
Sometimes that's exactly the right move — consolidating multiple expensive positions into one managed balance, or replacing maxed credit cards. Your advisor will run the math with you in real dollars before you decide.
Do banks really decline most small businesses?
Banks decline far more small-business applications than they approve, especially for younger businesses, thin-collateral files, and anyone with bumpy credit. It's not personal — bank underwriting is built for a profile most Main Street businesses don't fit. Ours is built for the ones that don't.