Merchant Cash Advance Underwriting Change
Merchant Money Inc. announces a change in business cash advance lending criteria. Merchant Money has adjusted the approval criteria for small business owners in order to service more customers.
Merchant Money Inc. announces a change in business cash advance lending criteria. Over the last few years personal credit scores have deteriorated due to the economy.† Merchant Money has adjusted the approval criteria for small business owners in order to service more customers. The personal FICO credit score of the business owners has been reduced from 600 to 550. Small business owners are still struggling to get approved by local banks for business loans if they donít have a perfect credit and enough liquid assets to secure a loan.
A merchant cash advance is money borrowed from future credit card sales of a business. Merchant Money will lend you up to 85% of your average monthly credit card sales. The advance is repaid by taking a % of your future credit card sales. The % charged varies by industry and credit card transaction history of each merchant. This type borrowing is designed for merchant who have less than perfect credit and donít have the liquid assets traditional banks require to securitize a loan. This type of transaction is very similar to traditional invoice factoring.
Merchant Money started providing merchant cash advances to small business owners in June of 2004. Merchant Money started as Legacy Merchant Service providing credit card terminals and merchant accounts to small business owners. Merchant Money branched into the merchant cash advance industry to service their customers need to access working capital solutions.
The small businesses in the United States are continuing to struggle in todayís economic environment until the banks service the working capital needs of small businesses. Lack of adequate capital will continue to hinder economic growth in America. The life blood of a business is capital. Capital investment in small businesses is needed to help small business owners grow and our nation grow.
If youíre a small business in owner, who is in need of additional working capital, contact Merchant Money Inc. at http://www.merchantcashadvancer.net to learn more details about the program.
- Contact Information
- Jeff Jackson
- Merchant Money Inc.
- Contact via E-mail
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