Unsecured Business Loans Are Taken to a New Level in 2011, MerchantCashinAdvance Announces 12 Month Payback No Credit Check Option
Unsecured Business Loans Are Taken to a New Level in 2011, MerchantCashinAdvance Announces 12 Month Payback No Credit Check Option
San Francisco, CA (PRWEB) July 28, 2011
For nearly a decade, merchant cash advances have carried the habit of requiring every small business to change merchant processors in order to receive their loan, while requiring the business to pay back the advance in only four months. Understandably, small businesses have seemed to prefer alternative unsecured business loans, while merchant cash advances have lacked popularity.
In 2011 however, as the demand for unsecured business loans peaked, MerchantCashinAdvance announced the release of the advance merchant cash advance program that differed than most unsecured business lending. Being the first of its kind- the program allows any business to continue processing with their existing merchant provider, while allowing the business to pay back the loan over the course of a full 12 months, reports MerchantCashinAdvance.
“We did it simply because business needed it. In 2011, 9 out of every 10 businesses are denied for traditional business loans. The majority of businesses rely heavily on their merchant account processing sales… an advance program without credit requirements and without merchant account restrictions is simply a necessity for American business at this point. It is important to keep any existing merchant processing relationship strong..” stated Mark Quinones, MerchantCashinAdvance’s CEO.
Most merchant cash advance providers only advance businesses who agree to change processors to maximize their own profits, which isn’t always good for small business owners. Unsecured business loans have certainly become less popular since the release of MerchantCashinAdvance’s new merchant cash advance program, because of the freedom it gives each business to access needed working capital.
But the popularity of MerchantCashinAdvance’s program arose with the length of the payback period: One full year. 99% of merchant cash advance providers make the business pay the full merchant cash advance within 4 months of receiving the advance, which probably explains why it has failed to reach its target audience over the years.
“The objective of the merchant cash advance is to grow business, not hinder it. I for one feel as though a four month period to pay back an entire cash advance would only make things more difficult for businesses to expand. Most merchant cash advance companies seem to forget that without businesses, we would not be in business- the objective is to keep business alive and healthy.” – Mark Quinones, MerchantCashinAdvance.
MerchantCashinAdvance certainly has the right idea. It is no wonder that other unsecured business loans of the past have become a thing of the past, and over 50,000 US based businesses have chosen this new Merchant Cash Advance program.
Unsecured Business Loan Inquiry: 877-875-0231
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Categories: Credit Card Processing Tags: 2011, Announces, Business, Check, Credit, Level, Loans, MerchantCashinAdvance, Month, Option, Payback, Taken, Unsecured
Merchant Cash Advance Usage Triples in 2011: Businesses in Need of Working Capital Steer Away From Business Loans, According to MerchantCashinAdvance.com
Merchant Cash Advance Usage Triples in 2011: Businesses in Need of Working Capital Steer Away From Business Loans, According to MerchantCashinAdvance.com
Chicago, IL (PRWEB) June 21, 2011
Both small and medium businesses have found a healthy alternative for access to cash when they need it the most, a merchant cash advance. Less than 10 percent of all businesses who applied for small business loans went home empty handed, reports MerchantCashinAdvance.com.
The economy is undoubtedly nearing its worst peak since the depression believe it or not, and although most media outlets claim things are getting better- blatant facts point otherwise. This explains why the rapid growth of the amount of merchant cash advance requests by business owners is no surprise.
Benefits of Merchant Cash Advances with MerchantCashinAdvance:
No collateral required.
Both business and personal credit is irrelevant .
Obtaining the merchant cash advance is purely based on the performance of your business, proven by your credit card processing transaction history.
The amount of cash you receive comes down to how much of your revenue is processed via credit card over a 6 month period; you are advanced an amount off future projected income.
Businesses receive merchant cash advances within 7 days of applying, MerchantCashinAdvance.com wires funds within 48 hours.
Merchant cash advance rates are minimal, MerchantCashinAdvance.com advocates their 0% interest campaign.
Essentially, a merchant cash advance is basically borrowed cash that is unsecured by assets, which explains why most merchant cash advance companies do not rely on your credit rating. The sales your business does via credit card processing is what determines the amount of funding you receive. It is automatically re-paid to the merchant cash advance provider over time in your future credit card transactions, this is referred to as credit card factoring.
Merchant Cash Advances in essence give businesses the ability to access working capital when they need it the most. In light of the continuous economic downturn, most small businesses need whatever they can get. Merchant cash advance services have surely been a reliable source for the working capital to expand a business, regardless of the size.
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Categories: Merchant Services Tags: 2011, According, Advance, away, Business, Businesses, Capital, Cash, From, Loans, Merchant, MerchantCashinAdvance.com, Need, Steer, Triples, Usage, Working
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