Merchant Cash Advance as Alternative Small Business Loan
October 15, 2008 at 10:44am
In these tough economic times (we are all probably tired of hearing about), small business owners need to be even more on top of their game in order to survive. The ones who stay educated will even find the opportunity amidst the crisis and come out farther ahead. In a recent article from Entreprenuer.com which talks about "Controlling Your Cash Flow" a hot topic in the merchant service industry is suggested as a means to stay afloat or even surge ahead. The topic of a merchant cash advance.
The article reads:
Raise capital in innovative ways other than traditional banking. "If you accept credit cards, there is something called a merchant advance where a third party will come in and review what your revenues have been and advance you capital today that you pay back in anticipation of future credit card receipts," says Deborah Osgood, founder of BUZGate.org, a business networking site.
Merchant cash advances are not necessarily new but will no doubt gain more popularity at a time when businesses are finding bank loans harder and harder to come by. These cash advances, based on your businesses future credit card sales, can be a blessing for some small business if they do their research, know the contract terms inside and out, and are able to use the money toward a valuable investment. As always we here at Payex suggest shopping around, going into a negotiation with questions, evaluate your options, and choose confidently.
For more information on how to apply for a merchant cash advance or simply to learn more about the topic please contact us via phone at 888.729.3948 Mon-Fri 9am-6pm EST or anytime via our contact form.
We also suggest checking out the Merchant Cash Advance Blog.
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Reposted November 28, 2009: