So, you've tried getting a business loan but hey turned you down because of bad credit. Believe me, you are not alone. Hundreds of small business owners are being turned away every single day because of issues related to bad credit.
The fact is; even business owners with good credit are being turned down for loans from the banks. A couple years ago, these people could have easily gotten a loan from any one of those same banks. Let's face it; finding someone to loan you money is getting harder and harder.
I've been telling people over and over that if they need cash for their business; a business cash advance is your their bet. A business cash advance (or merchant cash advance) is a business loan alternative that is faster, easier and requires no collateral. Basically you can get funded in 7 days even if you have bad credit. That is unbelievable when you consider how hard it is to get a loan from the bank and how long it usually takes to get the money.
You may be asking yourself; how they are able to do it. There is no secret to this. It is based on the centuries old practice of receivables factoring. They purchase a portion of your future credit card sales and give you the money up-front. What makes this unique is the manner in which you pay it back: You pay it back using a small percentage of your daily credit card sales directly through your processing machine. They take a small percentage each day until the advance is paid back
It may seem a bit confusing, but I assure you it is very straight forward and simple. In fact; business cash advances have over a 95% successful payback rate. Far higher than any bank loan. And over 80% of those people come back for additional funding.
There are many advantages to merchant cash advances. Probably the biggest advantage to businesses who are dealing with credit issues is the fact they can get funded even after being turned down by the banks. This is a big deal in these tough economic times when money is getting harder and harder to get.
Use the following link to discover how a business cash advance can help your business. Christopher Ronk writes articles about business loans and merchant cash advances for one of the leading providers in the USA http://merchantcashadvanced.com. He has helped thousands of small business secure funding so their business can continue to grow. Article Source: http://EzineArticles.com/?expert=Christopher_Ronk |
