Credit Card Advance and the Successful Entrepreneur
How many of you have tried to get a business loan lately? It hasn’t been easy has it? What if your business really needs working capital to function and the banks won’t loan you money? Unfortunately this scenario has played out way too many times in recent months. Businesses are closing at an alarming rate. The problem is that if many of these businesses had access to working capital, they could have avoided it. So where does a business go to get working capital if they’ve been turned down by the bank? There is one business loan alternative called a credit card advance (or merchant cash advance). What is a credit card advance? It is a quick and easy way for businesses to get the working capital they need without collateral and without the need for perfect credit. What they do is purchase a portion your future unprocessed credit card sales and give you the cash upfront. You pay back them back automatically by using a percentage of your daily credit card sales until the balance is paid in full. In order to qualify for a merchant cash advance you must be in business for at least 4 months and you must process a minimum of $2,500 of credit card sales each month. Some of the key differences between a credit card advance and a business loan are: These are unsecured loans - collateral is not required Good credit is not mandatory to get a cash advance The paying back the cash advance is done automatically through your credit card processor The approval process only takes 2 days or less You are funded in about a week. That is a fraction of the time it takes to get a business loan Unlike banks loans; there are no restrictions on how you spend your money
Even if you are not currently looking for extra working capital; it makes sense to look at all of your options. Use the following link to see if a credit card advance is right for your business. For more information about a credit card advance, go to http://creditcardadvance.org