...the Small Business Assistance lending program does not rely on the business credit or personal credit of the applicant. In fact, the application process does not even involve a credit check...
New York, NY (PRWEB) July 30, 2011
The 2011 business loan denials of 92% small business applicants has resulted in an increase of bankruptcy filings among small businesses across America thus far, reports Merchant Cash in Advance.
Unsecured business loan provider, MerchantCashinAdvance unexpectedly announced a Small Business Assistance Campaign this week, giving a guarantee approval of funding any business in business for 6 months or more.
The popularity of this Small Business Assistance lending program was inevitable, as the terms of approval are a dream come true for small businesses.
For starters, the Small Business Assistance program does not rely on the business credit or personal credit of the applicant. In fact, the application process does not even involve a credit check. Additionally, the Small Business Assistance funds loaned to the business are unsecured- meaning the business applicant does not put down any collateral.
Uniquely, the program purely bases the loan amount on the business's performance for its last 6 months of business. Essentially, the dollar amount of the loan typically equates to 1 1/2 months of the business's gross sales. Although similar unsecured business loan programs have been presented in the past, this Small Business Assistance Lending Program differs greatly in its method of payback:
- All applicants has a 12 full months to pay back the amount of the loan, with the option to pay sooner.
- Business loan amount borrowed is paid back by a percentage of sales. This amount is chosen by the applicant, not the Small Business Assistance provider.
- Each applicant is not required to change merchant account providers or make credit card processing changes.
Since its release, this assistance program has grown exponentially in popularity, funding an upwards of $600,000 to small businesses this week.
Small Business Assistance Inquiries: 877-875-0231