Las Vegas, NV (PRWEB) August 2, 2007
Crown Financial Services, Inc, a Las Vegas based firm, has announced their new program "Working Capital to Grow Your Business". It utilizes one of the least-known merchant financing strategies for successful businesses. The use of a merchant cash advance program or credit card receivables funding.
According to the latest statistics from Equifax, there are more than 18 million small businesses in the US. A high percentage of those small business owners are digging into personal savings, taking out home equity loans, borrowing from family and friends and running up credit card bills as forms of financing. All of these options require the business to take on additional debt.
The reality of the economic climate facing business owners today is that traditional lenders are toughening the requirements needed to obtain working capital. Ninety-two percent of all small business owners cannot get money from banks. Reasons include length of time in business, lack of collateral and the owner's poor credit, just to name a few.
Dan Ollman, President of Crown Financial Services, Inc. (http://www.crownfinancialservices.net), says, "Any business that accepts credit cards as a method of payment, and has an average monthly credit card sales volume of $1,900 or more is eligible to receive a merchant cash advance." This is a critical business financing tool that is often overlooked. The capital advances are based solely on the predictability of a company's future credit card sales.
According to Ollman, "A merchant cash advance allows a business owner to get a large sum of cash now, without incurring any additional debt. The reason is simple; you are not receiving a loan. You are selling an asset at a small discount, your future credit card sales."
Some of the key advantages of credit card receivables funding over other forms of financing are: no long application process, 24 hour approvals, cash in 7-10 working days, no application fees, no tax returns needed, no business plan needed, no closing costs, no fixed payment terms, no fixed time, no hassles. Typically a merchant can obtain between $5,000 and $300,000 per location. The amount depends solely on your monthly VISA/MC sales volume.
The money can be used for buying out a partner, expansion, advertising campaign, hiring personnel, payroll, emergencies, almost anything related to your business.
Collection of the purchased credit card sales occurs automatically through the credit card processor, which sends the funding company a small fixed, predetermined percentage from each credit card sale. The seamless integration of processing and ease of obtaining working capital is a natural fit and an obvious benefit to businesses that can not acquire traditional funding.
Credit card factoring companies, as they are known in the industry, like Crown Financial Services, Inc. work with both established and expanding businesses to provide working capital to businesses in the small-to-medium sized range that prefer a funding option that aligns with their cash flow.
A credit card receivables funding, or merchant cash advance, can potentially be the single best working capital management strategy for obtaining needed cash. Ollman states, "This is a vital business financing tool that should not be overlooked by business owners."
For more information and to obtain a free no obligation booklet, "10 Ways to Get Working Capital", please log onto http://www.crownfinancialservices.net/apply.
Crown Financial Services, Inc.
2105 Mission Peak Circle
Las Vegas, NV 89146
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