Merchant Cash Advance For New Entrepreneurs

In a Dun & Bradstreet small business survey, released in May 2000, small business owners were asked why they decided to go into business for themselves and were given the option to name more than one reason. 41 percent said they joined a family business, 36 percent wanted more control over the future, 27 percent were tired of working for someone else, and 5 percent experienced downsizing or were laid off.

You may fall into one of these categories, or you may have your own reason for diving into entrepreneurialism, but one thing all small business owners have in common, is the need for business financing to grow their business.

According to the small business administration, commercial banks and other depository institutions are the largest lenders of debt capital to small businesses. The SBA says they accounted for almost 65 percent of total traditional credit to small businesses in 2003. And according to the U.S. Census Bureau, 77% of people use their own money or family assets for business startup funding.

Some entrepreneurs already have sufficient funds for their business. Others go to various sources to come up with the money they need, and still, many new entrepreneurs think they have enough money to operate a successful business, but a few months in to their ventures, they realize that they are going to need more if they want their businesses to succeed.

Fortunately, new owners of retail businesses have a special option for business financing; the merchant cash advance. A business owner who has owned his/her business for at least four months can receive a merchant cash advance by completing a short application and providing the last four months of his/her business's credit card statements.

Merchant cash advances make it possible for owners of retail businesses to get business funds, and repay them through their businesses' future credit card sales. These payments are made automatically, eliminating the need for a borrower to make fixed monthly payments. This may be an excellent benefit for small business owners, as in 2006, Focus Credit reported that 52 percent of people surveyed say they've made late payments on bills and/or credit cards.

Business financing should no longer be a problem for new owners of retail businesses. These problems may be able to be solved with a merchant cash advance.

Article Source: http://EzineArticles.com/1626253

Secured and Unsecured Small Business Loans for People With Bad Credit

If you run a small business but have a poor credit rating, either due to your business's struggle or your own financial hardships, you know that getting a loan for the next phase of your plan will be difficult. However, in today's changing financial landscape, many lenders understand that poor credit happens to more people and businesses, and they are more open than ever to grant small business loans for bad credit.

Here is a brief look at the two types of loans that you can shop around for as you seek to boost your small business: Secured Business Loans and Unsecured Business Loans

When having bad credit, a secured small business loan is easier to come by, obviously, because you are putting something up against the value of the loan. The types of collateral that you can use in obtaining these types of loans can range from inventory to equipment, from property to accounts receivable. The understanding is that if you are unable to pay the loan back, the lender will take your printing press or office building, for example.

The good news is that the interest rates for these secured loans are far better than the option described below. Many times, a business simply needs a cash infusion to get to the next level, so a secured loan might be just what the doctor ordered to set you on the road to prosperity. Remember the advice given by many moguls: expand when you can, but don't overreach. If you see the opportunity to set up shop in a second location that is primed for your wares, you need to seize it before the competition does. Getting a small business loan for bad credit could make or break your future.

Unsecured small business loans for bad credit can be considered a form of cash advance for your business. They are often based on your future credit card sales, so only certain types of businesses are eligible for these kinds of loans. You usually have to own a business that is in the retail sphere, or a restaurant or service-oriented business that accepts credit cards. You also usually need to provide the prospective lender with six or more months of bank statements, credit card statements and a lease agreement if you have one.

This type of loan is only for the desperate. The exorbitant interest rates charged (30+% at times) can easily drain away all profit, so you had better fall into one of two categories when seeking this kind of loan:

a) You have nowhere else to turn for a cash infusion,

b) You are sitting on a sure thing and looking to grow rapidly.

You also want to be very cautious about getting linked with a lender that gives unsecured loans. Make sure that the institution is legitimate and approved by the Better Business Bureau. There are many sharks out there, but you don't have to swim with them.

Small Personal Loans - Considering Cash Advance

If you are in dire and immediate need for money and the need could not wait until the day of your salary, you are left with one good option - take a cash advance loan. Cash advance has been designed to provide borrowers money at the soonest possible time. It is now one of the popular small personal loans available to borrowers.

Why People Need Such Loan

Many people search for small personal loans especially when they need cash abruptly. Some need such products on a regular basis especially if their needs could not wait until the next payday at work. Cash advance is one good available option, especially for employees whose companies or employers are offering such minor credit facilities as among employee perks. The payments are automatically debited from the paychecks of the employee/borrower.

Things That You Should Know

Statistics show that the number of people taking cash advance loans are constantly rising through the years. It is an indication that peoples' salaries are often not sufficient to cover the spending needs of many employees. Before you consider taking a cash advance loan, you must be equipped with the necessary knowledge. Here is the basic information you should know about such small personal loans.

Ease Of Processing

Processing a cash advance loan is easier compared to processing other small personal loans from major financial institutions and banks. Step one would be finding a cash advance loan provider. Your office could be offering such facilities to employees or there might be a loan provider in your community.

Fill out the application forms, state the amount of loan and submit the required documents. Usually, for documentation purposes, you would be asked to furnish copies of your employment certificates, residency documents and identification papers.

Fast Payday Cash Advance Loan

Fast Payday

Obtaining a fast payday is a situation that many people find themselves in today. If you need fast cash or a quick loan I would recommend that you look into getting a payday loan. There seems to be a black cloud over the payday lending industry due to the high interest rates they charge consumers however they will extend you credit when nobody else will. Usually cash advance companies will not do an extensive credit check and can get you your funds in a timely manner unlike banks. You will then be expected to pay back the short term cash advance loan once you receive your next paycheck.

Also in many circumstances the cost of not doing anything and incurring fees on unpaid debt is much costlier than the interest incurred on the payday loan. As credit tightens, banks and credit card companies are aggressively increasing their penalties for bounced checks or late payments. These costs can easily be well over what a cash advance loan will cost you. So it is my belief that fast payday loans are the best sources for quick cash.

So when should you get a payday loan?

There are many situations when you should get a payday cash advance loan. The basic thing to remember is that when the cost to not get a payday loan is higher than the interest you will pay then it is financially wise to get the loan. Here are some common examples of when people need payday loans:

- You have important bills coming due and not enough cash to pay them.

- Your credit is maxed out and you need extra cash

- Your car broke down

- Death in the family

The list could go on and on but the point is that these things happen to everybody and fast payday loans are the best sources for quick cash to fill these voids.

If you are in need of some quick cash there are many payday lending companies who would offer you a loan. However they all would not charge you the same interest rate. Retail payday stores will typically charge you a higher rate on your payday loan than online payday loan lenders will charge you. This is because they assume they are more likely to close on you since they already have you in the store and in most cases know that you are somewhat desperate. Online payday lenders however have much more competition and have to deal with the vastness of cyberspace.

If you are in need of a fast cash payday loan I suggest that you go to a online website who is affiliated with multiple online lenders. This way you can fill out an application and have 2-3 payday lenders compete for your business instead of just going directly to a lenders website never knowing if you could've received a better rate. The website I have linked to below is affiliated with several of the most competitive lenders in the marketplace today and I would highly recommend using them for your  loan.

Financial Security cash advance loan

Will online cash advance loan to help offset what could be considered delinquent payments to other lenders / creditors ? There are many loan applications are processed every day so that people can keep up with the day-to- day payments . When revenues do not support the cost of basic living expenses , the financial path is clearly a rough one .

Using a short-term loan to support the often crucial stepping stone into further trouble . They are not intended to be the result of a large amount of debt . This short term loan is an alternative choice that money has different qualifying guidelines and practice results . There is not much space forgiving within two weeks of results . If someone is having trouble supporting the routine costs of living expenses , these loans will surely bring disaster to the mix . Cost effective to use this loan is to pay it off with your next paycheck . Pay close attention to your financial situation and future budgeted costs before applying for a short-term loan .

The key concept to remember about cash advance loans is that they work great for emergencies . Since the loan amount is set by state statute or by taking home a monthly income of a person , a small amount of the loan is not enough to cover the long -term debt problem . When the revenue does not suppot full payoff plus residual life expectancy , money became expensive and dangerous route to take in order financially to keep up with the cost of living .

Our services are designed to help you find a reputable payday lender to work with . iCashLoans has a large number of lenders in our network , and we are confident that we can assist you in obtaining the best payday loan to meet your needs .

Everyone hits hard times financially at some point , and payday loans are a great solution to short term cash flow problems . You do not have to worry about how you will pay unexpected bills or emergency load cover , between pay checks - iCashLoans is your source to search for a payday loan .

Using iCashLoans is 100 % free for you - we do not charge any fees for our services . When you use iCashLoans you will save time and money . All you have to do is provide us with basic information and we will search our network of lenders to find you a loan that meets your needs .

In iCashLoans we are proud to work with a lender that is fair and honest in their lending practices . Our main goal is to provide you with a great experience when looking for payday lenders . All lenders in our network are required by law to follow all the rules and regulations associated with payday loans .

Do not drive across town to visit shops payday loans , and forget about seeing website after website trying to find a loan with fair terms . iCashLoans is the only place you need to go to look for a payday loan . We will search our extensive netowrk instant lenders to find you a loan that you are looking for.readmore=>