Advice On Getting Cash For Your Business

by marco

posted on 10/13/2009

Does your small business need cash to purchase inventory, remodel your store, buy new equipment or expand your restaurant? If so, you might want to consider some other options than a traditional bank loan.

Qualifying for a traditional business loan from a bank has become very challenging in the current economy. Banks are tightening credit requirements, adding extra paperwork, lengthening the approval process, increasing interest rates, requiring collateral and even personal guarantees. All these hurdles make it very difficult for a small business owner to get a bank loan.

By comparison, commercial lenders and merchant cash advance providers offer a streamlined application process that could provide from $10,000 to $500,000 in immediate unsecured funding. Business owners who take advantage of these alternative funding sources can benefit from high approval rates, minimum credit requirements and flexible repayment schedules tied to their business sales volume.

These features provide a small business with immediate access to funds that can be used for any business purpose, including:
* Purchase Inventory or Seasonal Merchandise
* Remodel your Store or Office
* Purchase or Repair Equipment
* Pay off Debts or Overdue Taxes
* Expansion of your Restaurant
* Emergency Funding

Merchant cash advance providers will purchase your future credit card receipts for a discounted amount of cash advanced currently. The merchant cash provider takes a daily or weekly percentage of your business credit card receipts until the cash advance is repaid.

Alternatively, private commercial lenders do not tie the payback to credit card receipts and the interest on their commercial loan is tax deductible. Furthermore, commercial lenders offer payback terms of up to 18 months and do not require collateral.

So if your small business is looking for cash, and you're having a hard time getting a bank loan, try one of the alternatives out there. Either a merchant cash advance or commercial loan from a private lender might meet the cash needs of your business.

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