Business Loan Alternatives Expected to Increase in 2012
/PRNewswire/ -- As banks continue to place strict requirements on business loans for small businesses and merchants, BCA (BusinessCashAdvance.com) continues to grow its business loan alternative financing program to accommodate merchants in need of fast financing.In addition to the depreciation of equity, bad credit is still a major obstacle for small business owners. The majority of merchants approaching BCA are not even applying for bank business loans . A merchant cash advance, loan alternative has become a primary option for the majority of BCA customers over the last two years. The simplified application process and fast funding makes the cash advance program attractive for businesses.
Prior to the economic downturn, business loans and business lines of credit were readily available from a wide variety of banks, and lending institutions. In today's economy, the availability of loan financing has been reduced to accommodate a select few. "Our business cash advance is not actually a loan. The program is based on future sales offering a loan alternative that is available to all types of business owners and merchants, even with bad credit," explained Larry Yazen, business financing specialist. Unlike business loans, merchant cash advances do not require business planning and long applications. Funding approval is based on a small variety of simple indicators including credit card sales volume.
Business cash advances have proven to be an effective financing solution for many small businesses and merchants in need of a realistic alternative to small business loans. As the economy continues to struggle, BCA is fully committed to expanding small business financing in 2012 to accommodate business in need of working capital.
About BusinessCashAdvance:
Founded by financial professionals, BusinessCashAdvance.com offers financing to established small businesses. Visit http://www.businesscashadvance.com to apply online or call 866-411-0606.
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However, mainstream financial institutions are increasingly peddling similar loans. In California, payday lenders charge a 460 percent annual interest rate for a two-week cash advance on a borrower's pay or benefit check. The terms at major commercial
The simplified application process and fast funding makes the cash advance program attractive for businesses. Prior to the economic downturn, business loans and business lines of credit were readily available from a wide variety of banks,
Since 2007, Advance Funds Network has been offering financing to small- and medium-sized businesses nationwide. They offer unsecured business lines of credit, business cash advances, fast merchant cash advances and small business loans.
Sure, we need to make a profit, but it's only to stay in business to keep helping people get the lending they need for financial emergencies. As a business, we have done away with check cash advance services in favor of online payday loans.
Identity theft: An Elgin man told police Thursday that a collection agency has been calling him at least once a day lately because someone took out a paycheck-advance loan in his name and has fallen behind in payments on it. Debit fraud: An Elgin woman
Business Cash Advances vs. Business Loans | best loans
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5 Reasons Why A business Cash advance Is Better Than A Bank Loan.
One of the best part about receiving a business cash advance from Merchant Advisors is the speed of which you can receive your money. From the amount of time it takes to be approved to the amount of time it takes for the money to be funded into your account, we offer speed that the banks just can’t provide. You get approved in 48 hours and get the cash in 72 hours. Bad Credit Ok
Merchant Advisors small business cash advances are not funded based on personal information. Your credit score is not important to us. They are able to provide you with a business cash advance because we purchase your future credit card sales. Therefore, it doesn’t matter to us if you’ve made a few late credit card payments in your lifetime. No Hassle For Payments
Merchant Advisors don’t want to add “remember to make monthly payments” to the long list of things that you must do in order to run your business. A business cash advance known as merchant cash advance involves you receiving cash for selling a small portion of your future Master card and Visa receipts. Repayment is automatic, hassle free, and best of all, Merchant advisors only get paid when you get paid. No Collateral
It is often necessary to have collateral (assets that will be taken if the borrower can not pay back the loan) in order to receive a bank loan. Collateral can come in the form of a car, house, stocks, bonds, etc. However, not owning these things can make it difficult, sometimes even impossible to qualify for a bank’s small business loan. With Merchant Advisors , collateral is unnecessary, opening the doors of opportunity to a countless number of small business owners.
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