Something interesting has happened during the last few months of the credit crisis: credit profiles for merchant cash advances are on the rise. Near perfect FICO scores in the 700s and even 800s are all over applications we receive.
In the past, applicants with scores like these would first seek traditional bank loans. And typically, their loan needs would have been granted. But these days, applicants like these are turning to companies like Merchant Cash Advance for funding, while traditional financial institutions are scared to loan any money out, even to qualified candidates. Seems like every day we hear about another bank taking a tumble. Today, news is all about Citi Group’s predicament and the possibilities of its bailout.
Our current economic conditions present a unique environment to introduce businesses to merchant cash advances and how they can provide businesses the funding they seek. The economy may have slowed down dramatically, but businesses still require money for things like renovations, technology upgrades, etc., but with financial institutions high timidity, these business owners, CEOs, etc. will need alternative sources of funding, (i.e. a merchant cash advance).
A merchant cash advance is perfect for venture capital for a new start-up, too (just think of all the interesting business opportunities created from the economic crisis). We can get you the money you need fast!
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