One of the best ways to obtain working capital for small business is also one of the least known. It’s called credit card factoring. Credit card factoring is a very unique solution for those who need a quick infusion of cash.
Every small business needs capital at some point. Small business loans are getting harder and harder to get from traditional lenders. In fact banks decline over 90% of all small business loan requests for various reasons including insufficient time in business, no collateral and less than perfect credit.
Credit card factoring utilizes an asset that is unrecognized by traditional financial institutions — a steady stream of credit card sales — to determine the financial viability of a business. Capital advances are based solely on the company’s future credit card sales. A Credit card factoring funding for your business may be just what you’ve been looking for.
According to the latest statistics from Equifax, there are more than 6 million small businesses in the
US. A high percentage of those small business owners are digging into personal savings, taking out home equity loans, borrowing from family and friends and running up credit card bills as forms of financing.
Credit card factoring companies can help small business owners avoid these financial black holes through purchasing a fixed amount of the businesses future credit card sales, at a small discount, and in turn, providing them with a lump sum of working capital.
Credit card factoring cash advances typically varies from $5,000 to $1,000,000. Small businesses will frequently benefit from converting future cash flow into immediate working capital.
The most likely candidates to benefit from this strategy are restaurants, bars, service businesses and retail stores. These loans can be used for expansion, buying out a partner, advertising, payroll, emergencies, anything related to business.
Credit card factoring companies work with both established and expanding businesses to provide working capital to companies in the small-to-medium-sized range who have difficulty securing funding from traditional financial institutions or prefer a funding option that aligns with their cash flow. Working capital can be in the hands of the business owner in 7-10 days.
Daniel Ollman is the CEO and President of Crown Financial Services, Inc.(dano@crownfinancialservices.net ). Information about a free no cost no obligation consultation is available at (www.crownfinancialservices.net)
Crown Financial Services, Inc. is based in
Nevada and provides assistance in obtaining working capital up to $1,000,000, in 5-7 business days, using credit card factoring for bars and restaurants, retail stores and service businesses.
This entry was posted
on Tuesday, August 21st, 2007 at 5:43 pm and is filed under Merchant Account Advances.
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