Merchant Cash Advance Industry Gaining New Ground Against Bank Lending for Small Businesses
(PRWEB) July 09, 2011
According to MerchantCashInAdvance.com, 56% more small businesses would choose a merchant cash advance over a bank loan. In recent years, many small businesses are looking for cash to operate and expand as bank lending has dried up. Public outcry has added to governmental pressure to increase lending, but results have been limited.
Research from MerchantCashInAdvance.com shows that billions of dollars are available to many small business that accept credit card payments. An alternative financial product called Merchant Cash Advance is now available. Merchantcashinadvance.com offers cash to purchase future credit card sales of a business. This new product can bring cash to a business within a week.
MerchantCashInAdvance.com declares lack of mass media marketing is to blame for the low awareness of this new product. Over the last 3 years, there have been many complaints of banks not lending. Many entrepreneurs stop searching for capital almost immediately. Mark Quinones, founder or MerchantCashInAdvance.com says, “Recently a lot of small businesses have been closing without realizing there is another lifeline they can grab to weather the storm.”
Current news stories focus on the declining state of the economy, without noting that many business are still viable and those on the edge have other options then traditional bank lending. The tragic failure of marketing of the merchant cash advance industry is a big factor in many small businesses failing that would otherwise succeed.
MerchantCashInAdvance.com believes that many small businesses would take advantage of this new product. While it is not right for every business, it could mean the difference between success and failure for many.