The small business owners applying for the program seem to be in a win-win situation, as the risk of the borrowed amount falls onto the lender's shoulders...
Los Angeles, CA (PRWEB) October 13, 2011
A great deal of attention from American small business owners has gone to a newly innovated merchant cash advance program that now is offered at no credit check, announces Merchant Cash in Advance.
Merchant Cash Advance companies have certainly prospered in 2011, with the entire unsecured lending industry seeing a 40% growth in business in 2011. The launch of a new merchant cash advance lending program was launched by MerchantCashinAdvance.com this week, allowing any American small business owner to obtain funding without a credit check.
In only 4 days of its launch, the merchant cash advance program has already funded 300 businesses across the US, reports Merchant Cash in Advance.
The program differs from any other unsecured business lending product offered in recent years in a few ways.
For starters, the amount borrowed has an 18 month payback option, while not being tied to the business owners merchant account. This has allowed mostly cash-driven businesses to obtain funding based off their businesses performance without even have a merchant account to begin with.
Next, the cash advance is funded to the business owner the same day- which has been the most attractive part about the program for struggling small business owners.
The beauty of the program is that it is still considered an unsecured business loan, much like an evolved peer-to-peer lending product involving no collateral as well. The small business owners applying for the program seem to be in a win-win situation, as the risk of the borrowed amount falls onto the lender's shoulders.
"We minimize the risk of defaults by utilizing several funding sources to lend to one borrower. Instead of one bank lending $500,000 to one of our clients, 5 of our partners will lend $100,000 each immediately, thus minimizing risk by 75%. We are the only merchant cash advance provider in America who has implemented this tactic" stated Mike Butler, VP of operations for MerchantCashinAdvance.com.
The newly launched merchant cash advance program has grown exponentially in volume, and it isn't hard to see why.
Merchant Cash Advance Program Inquiries are to be made at 877-875-0231.