Working Capital Solutions - Alternative Types of Working Capital for Small & Medium Businesses

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Small and medium Business owners looking for working capital solutions have been hit hard by the large restriction of business credit during the financial downturn. Into this 'lending gap' have stepped different types of working capital that are flexible, but expensive alternatives. However, there is now a new business working capital solution with flexible underwriting, no upfront fees, and rates that are 30-50% less than a similar merchant cash advance. Read this Press Release for more information.

Neal Coxworth announces the launch of a new working capital loan option called credit card receivable loan (CCRL) for small businesses that may have been turned down by the SBA or a commercial bank. This new funding source serves as a quick, cost-effective, low documentation alternative to many of the traditional non-bank related funding sources that are currently available.

JR, an owner of a mini-mart in Alabama said "I had been approved by a merchant cash advance lender, but their rates were very high and they wanted me to purchase new swipe equipment and switch my credit card processor. I went online and got pre-approved for the CCRL and was surprised at how much easier and less expensive an option it was."

Coxworth, an 18 year veteran of the consumer loan industry said "Many small and medium retailers and restaurant owners who accept credit cards are being targeted by merchant cash advance companies due to the downturn. What many don't realize is that these largely unregulated 'advances' are not true loans, and because of this, sometimes carry effective rates as high as 70% on a short term loan along with high upfront fees and the requirement to switch their credit card processing company."

Coxworth stated that applying for the CCRL loan is available to most businesses that have been operating for at least 12 months. Owners with credit scores as low as 500 can be approved, and the interest rates are often 30-50% lower than that of a comparable merchant cash advance, with similar, flexible terms and no upfront fees or requirements to switch credit card processors. He also stated that because it is a true business loan, rather than a cash advance, it will allow a business to build a positive credit history and possibly allow them to qualify for a bank or SBA loan in the future.

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Neal Coxworth
Silverstreak Funding
(800) 793-0684
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