In our current economy, even large businesses close their doors unexpectedly - leaving hundreds or thousands of employees suddenly jobless. As hundreds of billions in mortgage-related investments went bad, mighty investment banks that once ruled high finance have crumbled or reinvented themselves as humdrum commercial banks.
With the Current Financial Crises, Merchant Cash Advance Companies Are Seeing a Spike in Busines
By Christopher Ronk
As anyone who has tried to get a loan recently knows, the lending institutions aren't exactly handing out their money to just anyone. It is being labeled as a lending freeze or a credit crunch; whatever you call it, it is difficult for business as usual in today's economy.
Photo: guim.co.uk
There is one financial business that is thriving during this economic downturn; and that is the merchant cash advance industry. Many businesses that can't get the working capital they need to operate are turning to this alternative type of business loan. One of the key differences between a merchant cash advance and a traditional business loan is that while a business loan from the bank looks at your past credit history, the merchant cash advance looks at your future sales potential as the deciding factor for your loan. Businesses with poor credit history and lack of collateral are turning to Merchant Cash Advances as well. Sometimes called a "bad credit business loan" a merchant cash advance offers a real solution for businesses suffering in these ha! rsh economic times.
When asked about his business: ! Ramin Am inian -- President of Merchant Resources International answered "I am very fortunate to be in position to help. I am also fortunate to be in a business that is doing well in this economy." He continues "I have actually seen a substantial increase in business over the past several months. People who are having difficulties trying to get business loans are turning to me." He concludes; "Those businesses who have never considered getting a merchant cash advance in the past are returning again and again. This is a situation where we both benefit."
How a merchant cash advance works;
* They take a look at your credit card receivables to determine the loan amount.
* Deposit the loan amount directly into your bank account in about a week.
* Take a percentage of your daily credit card sales until the loan is paid off.
Merchant credit card advances are relatively new to the financial services scene, but it looks like a market that is here to ! stay.
Follow this link to learn more about a Business Credit Card Advance
Chris R. writes articles about business loans and merchant cash advances for http://www.mybusinessloansite.com/
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