Nationwide (PRWEB) July 04, 2014
In a recent study conducted by a credit marketplace, over 1,000 small business loan application denials were analyzed. The findings reveal five major national chains, corporate banking institutions routinely turned down loans for small businesses. That's in line with the National Federation of Independent Business, which in its entrepreneur optimism survey, learned that more business owners have a negative outlook on obtaining financing.
However, the merchant cash advance is booming, lending money at a record rate, especially for its products which give small companies an business loan with bad credit. It's commonly referred to as a business cash advance, and increasingly, more and more entrepreneurs are applying to receive enough business money with a cash advance. The reason is simple; when asked by journalists why banks deny small business loan applications, the overwhelming response given was due to new federal regulations.
Prior to the national economic downturn, known as the Great Recession, small business lending was robust. Owners of small and medium-sized organizations could simply complete an application and provide a few financial documents for approval. That's changed drastically. Banks are now reeling from hundreds of millions of dollars in defaulted home mortgages, student loans, auto loans, small business loans, and many other credit debt instruments.
Combined with a wave of new federal banking regulations, which curtail commercial lending, big banks are turning away otherwise creditworthy business. Companies with credit blemishes or bad credit are being denied outright. However, alternative lenders are stepping up to fill the void. A business can apply for a loan online, simply by filling out a short form. Applicant businesses are approved in 24 hours for amounts ranging from $5,000 to $500,000 and receive funds via direct deposit in three to five days.
Funds may be used for any purpose, and there is no credit check or collateral required. With an approval rate of 98 percent, all types of businesses are receiving low-cost, flexible repayment loans which are based on a percentage, not a fixed dollar amount. That means these loans automatically adjust downward during slow sales months to make them more affordable for businesses.
BusinessCashAdvanceGuru.com expanded nationwide services are now available in the following geographical areas:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, West Virginia, Wisconsin, and Wyoming.
About Business Cash Advance Guru
http://www.BusinessCashAdvanceGuru.com is a division authorized by TieTechnology, LLC. Business Cash Advance Guru’s merchant cash advance division specializes in helping small business owners realize their dreams. That’s why we created our merchant cash advance program in 2003, and continue to be an merchant cash advance leader in the industry, offering the most flexible payment options and the lowest interest rates and in the business.
About TieTechnology, LLC
http://www.tietechnology.com specializes in small business service based solutions for businesses. Services provided by TieTechnology LLC, include: merchant credit card processing, business service telecommunications, and web based visibility marketing. The advantages of doing business with TieTechnology is their commitment to customer service excellence and their 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 and their specialized divisions, see the following links and descriptions.