Merchant Resources International Provides Business Funds as Bank Lending Decreases

Merchant Resources International continues to fund small business owners as bank lending declines.

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Quote startOur number one goal is to make sure small business owners have a realistic alternative to bank loans to fund their businessesQuote end

Los Angeles, CA (PRWEB) January 11, 2010

As bank loans remain scarce, MRI maintains its 90% approval rate, 85% renewal rate and excellent rating with the Better Business Bureau. In 2009, the leading merchant cash advance provider has allocated funds to well over 2,000 merchants, totaling over $35 million.

“Our number one goal is to make sure small business owners have a realistic alternative to bank loans to fund their businesses,” said Ramin Aminian, President of Merchant Resources International. “Our team of knowledgeable and friendly funding specialists and diligent underwriters works hard to make this happen every day.”

According to a December 15, 2009 report released by the Treasury Department, “The 22 banks that got the most help from the Treasury's bailout programs have decreased their small business lending by a collective $11.6 billion since April, when the Treasury began requiring them to file monthly reports. The banks' total lending has fallen 4.3% in that six-month period, to $257.7 billion,” (source, CNN Money).

And though the net percentages of banks that tightened standards and terms for most loan categories continued to decline from the peaks reached late last year, domestic banks indicated that they continued to tighten standards and terms over the past three months on all major types of loans to businesses, according to the Senior Loan Office Opinion Survey released by the Federal Reserve in October.

MRI, on the other hand, has maintained a steady lending pace without sacrificing underwriting standards. Merchants who are considered to be “higher risks” can take advantage of a special program, through which they will be advanced a small sum and given the opportunity to prove their credit worthiness and a chance to receive a larger merchant cash advance after reaching complete repayment.

“By creating a starter program, we’ve been able to keep our funds available to cash-strapped small business owners, without drastically increasing the risks on our end,” said Farzin Fazeli, CEO of Merchant Resources International. “We plan to continue these efforts as we embark upon the New Year.”

About Merchant Resources International

Merchant Resources International has been providing merchant cash advances to small business owners, including franchisees, in the United States and in Canada since 2003. Eligible small business owners can receive up to $500,000 in unsecured business funds.

For detailed requirements, program descriptions and more information, please visit http://www.cashprior.com.

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