Nationwide (PRWEB) January 13, 2014
Processing PayPal and need a business loan? Don't waste time going to the big banks; these traditional lenders are not approving small business loans because of the losses incurred through defaulted mortgages and commercial loans made before and during the Great Recession.
A recent business loan comparison found big banks are continuing a trend of tightening lending, and the go-to source has become cash advance for businesses. That's because banks are dealing with a slew of new federal regulations and are reducing risk by curtailing commercial funding.
"Forty-five percent of the 515 owners who took part in the advocacy group's survey said access to loans and credit at reasonable rates is a problem for their businesses. Access to loans was most difficult in the Northeast, where 53 percent of the owners said it was a problem. In the West, 49 percent called it a problem, followed by 44 percent in the South and 37 percent in the Midwest," according to a news report written by the Associated Press.
Stringent lending guidelines mean small businesses are not likely to qualify for loans or even lines of credit from traditional lenders. Big banks want a high credit score, a lot of collateral, and years worth of financial documentation in order to consider a loan application.
“CashFundsFast.Com makes obtaining financing approval as fast and as simple as completing a credit card application. The goal of providing access to business working capital swiftly and easily to small businesses across the country is realized through the alternative lender's release of its proprietary commercial funding system.”
Since big banks are not approving loans, CashFundsFast.Com has stepped-up to meet the needs of merchants processing PayPal. This lender offers competitive rates, starting at just 1.9 percent. It also has an approval rate of 98 percent. What's more, funds are made available via direct deposit in only a week. Funds can be used for any purpose, and there are tax benefits.
Payment installments are based on a percentage instead of a fixed dollar amount, automatically reducing during slow sales months. Business can apply online and do not have to go through a credit history review or pledge collateral to qualify for loans between $5,000 and $500,000. Loans are qualified based on monthly credit card sales, not credit files.
Common alternative business loan services that Cash Funds Fast now offers, through their nationwide expansion include:
More services are available in addition to the above list through the website at: http://www.CashFundsFast.com.
http://www.CashFundsFast.com is authorized by TieTechnology, LLC. TieTechnology, LLC, specializes in service based solutions for businesses. Services provided by TieTechnology are merchant credit card processing, business service telecommunications, business cash advances on credit card processing platforms and web based visibility marketing. The advantages of doing business with TieTechnology is their commitment to their customer service excellence and the offering of one stop solutions to all business to business service product needs for the customers’ convenience. To learn more about their wide assortment of business services, please visit http://www.tietechnology.com.