Nationwide (PRWEB) July 19, 2014
The landscape of traditional commercial lending continues to be a barren one, with the top five major banks denying small business loans at near-historic levels. However, there are merchant services cash advance options which come with affordable rates and flexible repayment installments.
Alternative lenders are making available merchant account cash advance loans without lengthy and arduous applications. What's more, existing merchant cash advance options are also available.
Big banks continue to hold back billions of dollars in their reserves, and state the primary reason for the lack of approved business funding is due to new federal regulations. The Frank-Dodd Act, which is intended to stymie fraudulent lending and curtail risk of legitimate loans, has negatively impacted small businesses. The result of such legislation has taken in-house decision making away from traditional lenders, and stricter qualification requirements are a harsh reality.
Corporate lending institutions now require more than just impeccable credit, but also, scores of certified financial documents. In addition, applicant businesses must have an established sales record and company owners must disclose all personal and business assets and liabilities. Loans are dependent on large collateral pledges, along with a personal guarantee. The application review period lasts several weeks and even if approved, funds are slow to become available.
However, it's now alternative lenders that are providing access to commercial level capital. These loans come with highly competitive rates and do not require a credit file review or collateral. Additionally, approvals are delivered in 24 hours, and funds are directly deposited into the applicant business' checking account in just three to five days. The rates of approvals are 98 percent and businesses can apply and borrow between $5,000 and $500,000. Funds may be used for any purpose and rates are based on a percentage of the total borrowed. Monthly installments are automatically adjusted downward during slow sales months.
Qualification is determined by monthly credit card receipts and not on a business' credit score. All types of businesses are able to qualify and be approved, from retail to merchant services, to restaurants and bars, to health care providers through this innovative quick merchant cash advance lender.
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 a 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.