Charge card Advance in Today’s Economy

The concept of using your businesses future unprocessed charge card transactions to obtain immediate working funds has been around for about ten years now. Many businesses have already taken advantage of it, specifically now since it is becoming more and more hard to get a loan from the bank.

Life is rough for small businesses. Not only has business slowed down to a crawl; it has this been difficult to get a bank loan intended for even the most robust business, forcing many of these businesses to close their own doors forever.

Would these businesses still be open if they were able to get a bank loan? Not in all cases, but certainly in numerous. Working capital is needed to keep company running smoothly. Without it, numerous businesses will fail as we have seen.

If they cannot get money in the bank; these businesses start looking for option sources for working capital. This particular necessity is how a this sector came to be.
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What used to be a last resort for those with bad credit; is quickly becoming a reliable means of operating capital for any business that needs the resource for working capital.

How does a credit card advance work?

To establish the amount of your advance; a provider needs to take a look at your merchant statements.
Once the advance amount has been established and you have already been approved; they will need to set up your own card processor to automatically deduct a percentage of your daily credit card sales to pay back the advance.
As soon as your processor is set up; they will exchange the funds directly into your business checking account.
Each time you batch out; a percentage of your card sales goes toward repaying the advance until you are compensated in full.
The advantages of receiving a credit card improve
You are usually funded in 10 days or less
A credit card advance has a much higher approval rate than loans from banks
A merchant cash advance does not need collateral
There are no application fees
They offer an easy, flexible payback schedule
You are able to use the funds any way the truth is fit.
Once you have established yourself; you can generally get funded within 24 hours
There is no UCC1 filing

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