I am thankful that my Business Got a Second Chance with a Credit Card Advance

This has been a tough year for businesses. Actually, it has been one of the toughest years in decades. Thousands of businesses have had to shut their doors for forever.

I suppose it is easy for me to say that if they were able to get a bank loan they could have saved their business. I don’t know if that is true for all of them, In fact I sincerely doubt it. But I can tell you with absolute certainty that a business loan could have helped many of these businesses.

The problem stems from the banks unwillingness to loan money during a week economy; which completely exasperates the problem even more. I’m not going to blame the banks. They need to protect themselves... it is what it is.

Fortunately there is a way to get around banks when it comes to getting working capital for your business. What many businesses have already discovered is a credit card advance (or merchant cash advance). It is a way to get working capital much faster and easier without going through the bank.

What is a credit card advance?

It is a form of receivables factoring that uses your Visa/MasterCard sales as the basis of a cash advance. Receivables factoring has been around for centuries, but getting a cash advance against your future credit card sales is something new. What’s more; they use your credit card processor as a means to pay them back. It is for that reason that they are able to fund so many businesses that would otherwise not be eligible for a loan.

I can say with absolute certainty that a credit card advance has helped thousands of small business owners keep their business when they would have surely gone under in these tough financial times.

We receive letter from happy merchants all the time. I want to share with you a letter we got recently that sums this up pretty nicely;

Thank you so much for believing in us. After getting turned down for a loan yet again, I almost stopped believing in myself. This has been a tough year for us and we just needed money to get us through to Christmas (our busy season). We were behind on so many things, I’m sure that we would have had to close if it weren’t for the cash advance.

Happily we were able catch up on past due bills and purchase the inventory we needed to get ready for the Christmas season.

Thank you for believing in me,
Shawna Hudson – Fort Worth, Texas

All I can say is; you are welcome Shawna. It was our pleasure.