Merchant Cash Advance: Get into the Cash Flow

From time to time in life and in business we all need some extra cash to cover expenses. I'm sure we've all been there, and I'm sure we will all be there again. That being said, I was interested to learn about a study commissioned by New York based Capital Access Network, Inc (CAN). The Study was conducted nationally among small to mid size business operators who accept credit cards as form of payment. For the sake of brevity I'll just highlight some key points:

77% of business polled used credit cards to make purchases over $5000 two or more times per year and make only minimum monthly payments.

50% of those individuals did not understand the long term implications of making large purchases on a credit card.

A purchase of $5000 with an 18% APR can amount to an actual cost of $18,000 and would take 46 years to pay off if only the minimum monthly payment is made

73% of those polled where not aware of all of the financing options available to them.

What this study indicates is that business owners are not fully aware of the tools available to them in times of monetary need. I'd like to do my part in correcting that - if you need money for new equipment, advertising, pay roll, cash flow or anything else and if traditional lending methods are not readily available, you do have another option:

Introducing the Merchant Cash Advance

Merchant cash advances are simple and they work like this: the cash advance provider purchases (advances you money for) a specified amount of your future credit card sales at a discount. Collection of the purchased credit is processed automatically through your credit card processing provider. The merchant cash advance provider receives a small, fixed and agreed upon percentage of your daily credit card sales. Since it is a set percentage the provider only gets paid when you do - I.E, when you're really busy your payments are larger and when business is slow your payments are much less. The best part is, you'll know exactly what the total cost of the funding will be upfront.

It's quick, easy, predictable and more affordable. For goodness sake, don't finance your next large project on a credit card--unless of course you want to earn a lot of mileage and can pay the balance off in full in a short amount of time!-- Learn more about cash advances and apply here.