Melville, NY (PRWEB) December 11, 2012
Leading provider of merchant cash advances, Merchants Capital Access (MCA), has announced a strong increase in total advances for the third quarter of 2012, with a 44% increase in total amount financed year-over-year.
"We have continued to see a growing demand for our merchant cash advance product, accelerated by the further tightening of access to cash by the Great Recession," says Merchants Capital Access CFO Paul Snead. "Many of the businesses we fund were turned down by both big and small banks that they normally relied on for cash prior to the recession, so they had to search for alternative funding."
Located in New York, Merchants Capital Access provides cash advances to small and medium size businesses in as little as five days. A merchant cash advance from MCA allows businesses to free themselves from the constraints of traditional lending processes that involve lengthy wait times, personal collateral and pristine credit.
In response to the rapid growth, Merchants Capital Access has hired a dozen new call representatives to handle the increasing number of funding requests from small businesses, as well as manage their existing accounts.
"In addition to to our recent bolstering of professional staff, we have harnessed outside expertise to handle the increased business volume that is projected for the coming months," adds Mr. Snead.
With over 25 years experience in finance, Mr. Snead has seen first-hand the effects of the ups and downs of the economy on businesses. Conventional belief suggests that in the current global economic slowdown, small businesses will fare poorly.
"But this is generally not true," according to Mr. Snead. "Well-run businesses tend to hold their own during downturns. Despite global economic uncertainties, we have witnessed a growing need from small businesses for working capital to fulfill purchase orders, purchase equipment, or expand, and we are quite excited for what this trend portends for us and for the economy as a whole."
For more information on Merchants Capital Access, Paul Snead may be contacted at (877) 522-7410.
About Merchants Capital Access
Merchants Capital Access is a leading merchant cash advance provider located in Melville, New York, providing fast and easy access to working capital for a wide variety of small and medium size businesses since 2007. Learn more http://www.merchantscap.com.