Many businesses cannot get approved a commercial bank for an SBA loan, and have also seen their normal sources of working capital severely restricted compared to recent years past. For many businesses, especially those that accept credit cards and may have difficult credit situations, have been forced to consider a merchant cash advance.
However, a new, more affordable option has recently come on the market for cost-effective, alternative sources of working capital. This option, known as credit card receivable financing, fills the gap left by the low approval rates of Commercial Banks and the sky-high interest rates, huge upfront fees, of a traditional merchant advance. Some of the key points to consider for credit card receivable financing:
- Rates that are 30-50% lower than a traditional merchant cash advance
- No Upfront Fees for a pre-approval
- A cost free Pre-Approval, complete with rate and payment, in 48 business hours
- No Requirement to switch credit card processors. Stay with current processor
- Option for those business don’t accept credit cards. Cash Businesses welcome, minimum average balance 4K
- Owner credit scores down to 550.
If you are a small business in need of working capital, click here.