MERCHANTS WHO ACCEPT CREDIT/DEBIT CARDS FOR THEIR DAILY TRANSACTIONS MAY BE ELIGIBLE FOR A CASH ADVANCE, BASED ON THEIR PREVIOUS YEAR'S PROCESSING STATEMENTS!
WHEN DOES A BUSINESS LOAN MAKE SENSE? WHEN IT WILL STRENGTHEN OR SAVE YOUR BUSINESS.
TRADITIONAL SOURCES OF CAPITAL ARE TOTALLY SECURED! So if you have available collateral, and the time it requires to investigate and secure it, first seek a low rate source.
Bank Loans and Lines of Credit - Low rates but require unrestricted registration against assets
Mortgages or Lease Backs - Low rates but equipment, building and/or land as collateral
Equity- No immediate cost, but you take on a partner to share in your success
Family or Friends - No immediate cost, but can have a tricky downside
ALTERNATIVE SOURCES - UNSECURED
Personal Credit Card - Rates are high but collateral not required. However, your credit rating will be affected if not honoured.
Merchant Financing - Rates are high, but Advantages are:
No collateral required - you are not personally affected
No reports to the Credit Bureau
No financials or tax returns required
Quick approval with no application fees or closing costs
NO FIXED PAYMENT - repayment is in direct proportion to daily receipts. If your business is seasonal or has a slow month, we receive less payment as well