These include franchisees who have exhausted their savings to purchase their first franchise and want to open a second one; merchants whose competitors have closed and have the chance to buy their competitor’s old inventory or move into a new location; expansions; buyouts; or simply the desire to move quickly on a perceived new opportunity.
Dan Ollman is President of cash advance Crown Financial Services. Crown Financial Services is a proud member of the American Cash Flow Association, Las Vegas Chamber of Commerce and the Las Vegas Better Business Bureau. They provide working capital to businesses by purchasing a small portion of their future credit card sales.
Crown Financial Services helps you turn your future credit card sales [http://www.crownfinancialservices.net] into cash. We provide small business cash advances for merchants who currently have credit card processing. You can get a cash advance on future credit card sales with a merchant account cash advance [http://www.crownfinancialservices.net] loan. Merchant account financing, also called credit card receivable factoring, is an excellent alternative to restaurant loans and other business loans.
Traditionally, cash advance loans were only available for people who had steady jobs, as one of the most important requirements in getting approved for a cash advance is a steady source of income. Although in recent years, lenders have now extended cash advances to people who do not meet the requirement of having a steady source of income from which the loan can be repaid. This is because there are now some lenders who offer cash advances to unemployed people. However, although the cash advances that people get is somewhat similar to the cash advances that are made available to unemployed people, there are very stark differences, which have become the reasons why lenders offer these loans in the first place.
In most cases, business owners put up no personal collateral and make no personal guarantee.
How Providers Make Money
Finance charges can vary widely, not just from one provider to another, but from one advance to another. As an example, the range of financing on a $10,000 advance could be as low as $1500 or as high as $4,000. That’s a 60% difference.
There is no fixed interest rate; the effective interest rate varies depending on the business. If the merchant’s business is doing well and sales are up, the a