One of the most popular topics today is how does a small business secure financing during these difficult times. Traditional small business loans have dried up, as lenders are still shaken up by the financial downturn.
A fairly recent lending alternative is slowly creeping into the spotlight, it is called a business cash advance. The business cash advance program requires a minimal amount of paperwork and doesn't take into consideration your personal credit history. There are only 2 requirements: 1) the business must be open for more than 9 months 2) the business accepts credit cards.
If your business qualifies you could receive between 1-1.5 times your monthly credit card processing volume. The lender takes over your credit card processing (matching your current rates) and withholds a predetermined percentage of sales until they are paid back.
To discuss the program we suggest talking to Vista Advance, one of the leaders in the space. They can be reached by going to their website www.vistaadvance.com or by calling them at (212) 481-4100.
No comments:
Post a Comment