Would Your Business Move Forward or Stay Afloat If You Could Receive an Advance on Future Credit Card Sales?
If the answer is “yes,” then a Merchant Credit Card Cash Advance may be the solution you have been looking for. This is simply one of the most aggressive and easiest means for a company to obtain funds on the market today. With this groundbreaking program, poor credit, late payments, and bank turndowns simply are not an issue.
There are 3 Simple Steps to the process.
1. See If You Qualify
Determine how much your average monthly credit card sales are for the last four to six months. Then check the simple requirements below:
· Have you been in business for at least 6 months?.
· Have you done least $2,500 in average monthly credit card sales?
· Do you have accept Visa, MasterCard, and Amex.
2. Contact Us
Call us at 1-800-541-0919 or contact us online so that we can assist you in completing a simple, one page application. We will also need the last 4 months merchant account statements, your last month’s business bank statement, and a copy of your driver’s license. THAT’S IT!
3. Repay Based Upon Your Ability
This is the best part of the program. We are banking on the fact that you will continue to do business as you did before. So we fix your payment at 15 to 20 percent of your future credit card receipts until the loan is repaid. This includes principal and interest.
That means you are able to keep 80% to 85% of your monthly credit card sales. So, if you do very well, your cash advance gets paid back sooner. If, however, business is slow you pay back less and over a longer period of time. THIS MEANS NO MORE WORRIES!
Once you have repaid 50% of the advance you can make a simple phone call to re-borrow the paid amount. It’s by far the quickest and easiest way to get cash short of going to your own ATM.
Use the funds for payroll, operating expenses, the purchase of inventory to take advantage of bulk-order discounts, for growth or expansion, to respond to seasonal demands and opportunities, or PERSONAL USE.
If this is something of interest to you or your company, kindly contact us at 1-800-541-0919 or visit us online at www.bayharborcapitalcorp.com.
Filed under: Merchant Credit Card Cash Advances | Tagged: alternative business financing, http://www.bayharborcapitalcorp.com/CCAdvance.html, merchant credit card cash advance
I have heard about this form of financing, but did not know if my business would qualify. Based upon your post it seems that all you need to do is to actually accept credit cards and do a minimum of $2,500 per month. Is that true?
Ostensibly, that is correct. The product is almost exclusively reliant upon the fact that you are a merchant regularly accepting credit cards. While there are some restrictions, this remains the primary criteria as repayment is based upon the continued use of credit cards for sales at your establishment.
Credit is very tight right now – just read the newspaper or watch the news. Has this type of loan been effected by the “credit crunch.”
I am a seasonal restaurant owner. What if my sales slow down once I take out this advance? How long do I have to repay the money that I borrow? Paying back a large amount in a slow month could really hurt my business.
Two excellent questions:
First – You are, needless to say, correct in stating that credit and lending are possibly as tight as they have ever been. However, this particular product, which has been around for nearly 3-decades, never fell prey to the lowering of lender guidelines that we have seen in the mortgage industry. As such, private funding sources like ours maintain strong, performing portfolios not mixed with mortgage backed securities.
As for the second question, the repayment of this advance – and it is an advance, not a loan – is truly made at the vendor’s own pace. Because repayment is made in the form of a percentage of each transaction, slower months yield smaller repayment amounts while busier months yield higher repayment amounts,
Thank you both for your questions / comments.
As a business owner this seems like an excellent product for today’s environment. Before going into a loan such as this though I think one of the best ways to judge it is to look at past performance. Do you have any idea how many merchants have taken out this type of loan multiple times? If it is a good number then I would feel more confortable pursuing it as an option. Thanks