A credit card advance has helped thousands of small business owners across the United States get funded when the banks that we helped save with the tax dollars refused to help all of them in their time of need.
If I sound a little upset about this, I apologize. We are approached every single day by struggling business owners who are worried that without funding, their business might fail as well. These business owners are not wealthy. These are hard working business people that have purchased into the American dream. They are said to be the “back-bone of our economy”.
I digress. What I would like to talk about is an alternative the traditional bank loan called credit cards advance (or merchant cash advance). Unlike bank loans; they are fast, easy, and do not require collateral or great credit.
Rather than using your credit history or even personal assets as the basis to approve or decline your mortgage; a cash advance provider relies on your own businesses sales records as the time frame for the merchant loan. If you have a proven track record of credit card transactions; chances are that you may be eligible for a merchant cash advance.
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Generally speaking, they will offer you 2 . 5 times the amount of your monthly Visa/MasterCard sales. As an example, if your business does 10 dollars thousand in credit cards sales within an average month; you would be eligible for $25 thousand.
There are many benefits to receiving a merchant loan. Not least which is the simple fact that you can get financed even when the banks have converted you down. Some of the other advantages include;
Get approved in 24 to 48 hours in most cases
Get a money in about 7 days – sometimes less
Good credit is not a requirement
No collateral needed
Easy application process
No restrictions on how you spend your money
No UCC-1 submitting
Flexible payback structure
No fees for late payment
There will regularly be a need for banks, but isn’t it great to have an alternative. We don’t think that merchant loans is going to take the place of banks, but it is usually my desire that if their customers are given an alternative; they may start treating small business owners the way they deserve to be treated.