There are at least 50 Merchant Cash Advance transactions that have happened in almost every state of the US. In total, 21,000 Merchant Cash Advance deals made and the industry has funded over $500 million dollars to small businesses.
New York, NY (PRWEB) July 13, 2011
Quick money is needed by many small businesses that are not ready to wait it out for bank loans that can come with lots of restrictions and limitations. This desire for money among small businesses has now led to the boom in the merchant cash advance Industry.
The merchant cash advance industry has been an well-kept secret in the financing sector. Until recently, the media largely overlooked such options and focused mainly on bank loans.
Opposition for merchant aash advances still exists as many people think that it is too risky for a business to rely on merchant cash advance over the traditional bank loan.
Small businesses are now ready to risk it all, which has been reflected in the recent statistics released by MerchantCashinAdvance.com. Even though the figures are not exact, it shows that there has been strong growth of merchant cash advance industry in 2010.
According to MerchantCashInAdvance.com, the state of California tops with 2,768 Merchant Cash Advance deals with $69,200,000being funded by the merchant cash advance industry.
There are at least 50 Merchant Cash Advance transactions that have happened in almost every state of the US. In total, 21,000 Merchant Cash Advance deals made and the industry has funded over $ 500 million dollars to small businesses and others in 2010 alone.
“Part of the reason for this MCA boom is due to the fear created by the mainstream media about the failing US economy, owners of US companies have now started to think like Asian companies as most of the Asian companies get their funds from MCA type industry” said Mark Quinones, CEO of Merchantcashinadvance.com.