Credit Card Advance – A Saving Grace for Small Business

Credit Card Advance – A Saving Grace for Small Business With the economy still in a downturn and credit still hard to get; where do small business owners go to get working capital to keep things running smoothly? The first choice for many small businesses is the bank. But what happens when they turn you down? Getting a loan has become increasingly difficult; especially if you have bad credit or lack sufficient collateral. The good news for many of these business owners is that they can still get funded even after the banks have turns them down. Businesses are discovering a new source for acquiring working capital called a credit card advance (or merchant cash advance). A credit card advance is a business loan alternative that is much faster and easier to get and does not require collateral or good credit. All you need to qualify for a merchant loan is;     You need to be a business owner You need to have been in business for more than 6 months You must accept credit cards You need to process at least $2,500 each month The only advantage that a business loan has over a cash advance is that it is less expensive. Which I confess is a big deal for many business owners. That said; there are many advantages to getting funded through a merchant loan. Some of these advantages include;        A 95% approval rate Approval takes less than 24 hours in most cases Many businesses receive funding in less than a week No collateral required Good credit not necessary Easy application process No restrictions on how you spend your money The reason they can fund your company when banks can’t is simple; they use your proven record of credit card sales instead of your credit history as a bases for the cash advance. They also work with your company to come up with a figure that doesn’t put too much of a strain on your business. The flexible payback structure uses the natural flow of your business making it much easier to pay back the cash advance. It is always a good idea to arm yourself with the facts and to keep your options open. Use the following link to see of a credit card advance is right for your business. For more information about a credit card advance, go to http://creditcardadvance.org